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Showing 661 - 670 of 1678 results for "Breach"

ASIC drags CFS to court over MySuper

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
ASIC has commenced civil proceedings in the Federal Court against Colonial First State, alleging that it engaged in misleading communication with members. Following the introduction of legislation in 2012 that required trustees to offer members a default ...

CBA in court over RC case studies

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
ASIC has commenced proceedings against Commonwealth Bank over the AgriAdvantage Plus Package and credit services provided to problem gamblers. Both cases were Royal Commission case studies and are being pursued by the regulator in the Federal Court. ...

Westpac hit with another class action

ELIZA BAVIN  |  FRIDAY, 13 MAR 2020
Westpac confirmed it has been hit with another class action relating to the AUSTRAC scandal. The class action, brought by Johnson Winter & Slattery, has been filed on behalf of certain shareholders who acquired interest in Westpac securities or equity ...

Life insurers are doing their best: FSC

ELIZABETH MCARTHUR  |  THURSDAY, 12 MAR 2020
The Financial Services Council has responded to a largely damning report from the Life Code Compliance Committee, arguing it is silent on positive changes the industry has made. The report looked at cases dating back to June 2017 and found that timeframes ...

Life insurers breach own code consistently

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 MAR 2020
... interest." The LCCC identified systematic issues which caused the delays in claims processing at insurers. About 315 of the 700 breach notices were upheld, but Maurice Blackburn remains of the view that all 700 were genuine. The LCCC also criticised ...

Chief economist update: The cure for Italy's tourism problem

BENJAMIN ONG  |  WEDNESDAY, 11 MAR 2020
... over a year ago. Brussels was worried that Italy's big spending promises would put its budget deficit to GDP ratio in breach of the Maastricht Treaty that limits the ratio of member Eurozone countries to 3% of GDP. Italy's already in breach of ...

InPayTech's ClickSuper grows

HARRISON WORLEY  |  MONDAY, 9 MAR 2020
InPayTech's superannuation payment solution has picked up new payroll provider clients, as cybercrime continues to threaten the super sector. The payment technology company has confirmed seven new payroll providers have joined the firm's integrated ...

Accountant convicted in fee no service scam

ELIZA BAVIN  |  MONDAY, 9 MAR 2020
A Melbourne-based accountant has been sentenced in the County Court of Victoria after pleading guilty to two charges of making false or misleading statements. The court found Jason Cullen, an accountant employed by an accounting and financial advisory ...

Advice groups criticise rushed legislation

ELIZABETH MCARTHUR  |  WEDNESDAY, 4 MAR 2020
... to Treasury on ongoing fee arrangements and disclosure of lack of independence, advice fees in super and strengthening breach reporting. "The AFA is concerned that what has been proposed with annual renewal will significantly add to the cost of financial ...

ASIC turns up the heat on enforcement

HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
One year on from a Royal Commission lambasting, ASIC is continuing to increase its efforts to chasten large institutions for misconduct, latest enforcement activity numbers show. In its latest six monthly report into its enforcement and regulatory work ...