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Showing 661 - 670 of 5215 results for "2015-16 ASIC"

ASIC intends to extend legislative instruments

MATTHEW WAI  |  FRIDAY, 9 AUG 2024
ASIC is set to extend three legislative instruments for five years, one of which relates to record keeping for financial advisers. The instruments are: Class Order [CO 14/923] Record-keeping obligations for Australian financial services licensees when ...

Australia sees jump in zombie companies

ELIZA BAVIN  |  THURSDAY, 8 AUG 2024
A new study from global consulting firm Kearney revealed the number of zombie companies in Australia increased 13.6% in the past year. Zombie companies - those which don't produce enough profits to cover debt obligations - now account for 5.8% of ...

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
... say, 'whatever's going on in the background, you need to pay'," Singh said. If the determination remains unpaid, ASIC is then informed. "Once it's referred to ASIC, it is a matter for ASIC as to what they do in their timeframes...Ultimately ...

Mercer Super cops landmark $11.3m greenwashing penalty

KARREN VERGARA  |  FRIDAY, 2 AUG 2024
... were not intentional and we apologise to our members and clients" and that it will not use member funds to pay the penalty. ASIC took Mercer to the Federal Court in early 2023 when it alleged that it made false and misleading statements and engaged in ...

Former wealth management chief ousted from financial services

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
... details including those obtained from a third-party website operator, offering them a free superannuation 'health check,'" ASIC said. "[UGC] through its authorised representatives, recommended investments to clients that included speculative investments ...

Court rejects former fund manager's appeal

KARREN VERGARA  |  WEDNESDAY, 31 JUL 2024
... miscarriage of justice occurred when the primary judge refused to allow Munro to withdraw his guilty pleas in April 2022," ASIC said. "This was the sole basis advanced by Munro on appeal." The Commonwealth Director of Public Prosecutions prosecuted this ...

ASIC proposes cash equity clearing and settlement rules

ANDREW MCKEAN  |  TUESDAY, 30 JUL 2024
ASIC has released a consultation paper on proposed rules to facilitate competitive outcomes in cash equity clearing and settlement (CS) services provided by the ASX Group. The corporate regulator's release of the consultation paper marks the first exercise ...

Trend among young Aussies highlights need for affordable advice

ELIZA BAVIN  |  MONDAY, 29 JUL 2024
The Association of Superannuation Funds of Australia (ASFA) has released new research highlighting that young Australians are increasingly relying on social media for financial advice. ASFA said a major concern with this trend is the growing risk of ...

More than 11k businesses call in administrators

MATTHEW WAI  |  FRIDAY, 26 JUL 2024
ASIC's annual insolvency data shows more than 11,000 companies entered external administration for the first time last financial year. While the figure is higher than previous peaks in 2011-12 and 2012-13, ASIC clarified that there are more businesses ...

IPO conversations 'sparking interest': Barrenjoey

ANDREW MCKEAN  |  FRIDAY, 26 JUL 2024
... trading in two weeks. It's longer here. We should examine that and things we can change and do better. That would help." ASIC chair Joe Longo said the regulator is very engaged with market participants, including the ASX, hedge funds, key players, and ...