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Showing 661 - 670 of 1337 results for "Corporations"

PJC doubts life insurance industry can self-regulate

KARREN VERGARA  |  WEDNESDAY, 28 MAR 2018
... self-regulate and is recommending the co-regulatory approach foreshadowed by ASIC. In its final report, the PJC on Corporations and Financial Services for the Life Insurance Industry said while it welcomed the industry's two nascent codes of practice ...

ASIC closes doors on Storm charges with two fines

ALEX BURKE  |  FRIDAY, 23 MAR 2018
... fined $70,000 each for breach of duties. Emmanuel and Julie Cassimatis were previously disqualified from managing corporations for seven years. When they were directors at Storm, they created the system of financial advice where clients invested money ...

Former Provident Capital MD still banned but allowed procedural fairness

DARREN SNYDER  |  THURSDAY, 22 MAR 2018
... fairness in its hearing. ASIC explained that on 20 February 2015, Michael Roger O'Sullivan was banned from managing corporations for five-years. It is the maximum banning period ASIC can impose under section 206F of the Corporations Act. On 7 March 2018 ...

FASEA releases draft degree equivalence, Code of Ethics

JAMIE WILLIAMSON  |  TUESDAY, 20 MAR 2018
... a degree in an unrelated field, the completion of a bridging course of eight units covering topics including the Corporations Act and behavioural finance will be required. FASEA said the full content for advisers with no current degree will be confirmed ...

ASIC seeks Deloitte to liquidate SMSF business

ALEX BURKE  |  TUESDAY, 27 FEB 2018
... Deloitte's Jason Tracy to liquidate the company. According to ASIC's statement, Superfunded may have breached the Corporations Act and parts of the Superannuation Industry (Supervision) Act relating to schemes that promote the "illegal early release ...

ASIC successfully files injunction against Melbourne advice provider

JAMIE WILLIAMSON  |  MONDAY, 15 JAN 2018
... Financial Circle's conduct as misleading, deceptive and unconscionable, alleging Financial Circle Pty Ltd breached the Corporations Act 2001, the National Consumer Credit Protection Act 2009 and the Australian Securities and Investments Commission Act ...

Getting better and betterer

BENJAMIN ONG  |  TUESDAY, 9 JAN 2018
... anticipation of it sent stocks rising in 2017, what more this year when it has become law? Just think of the many ways US corporations can do with the savings derived from paying less taxes - increase investment, pay for share buybacks, raise dividend ...

AAT upholds ruling against ex-Macquarie and ex-Credit Suisse advisers

EMMA RAPAPORT  |  TUESDAY, 12 DEC 2017
... and transparent markets for financial products," the AAT said. The AAT found that Davidof contravened s1041A of the Corporations Act 2001 and that a three-year ban was appropriate in the circumstances. The AAT noted that "Davidof was aware...that the ...

Court shuts down listed investment manager lawsuit

ALEX BURKE  |  FRIDAY, 8 DEC 2017
... another, and because their combined shareholding in Molopo is 37.33%, this is a contravention of section 606 of the Corporations Act. Molopo's response to Keybridge suggested the latter was seeking the removal of incumbent directors; Keybridge disputed ...

ASIC widens conflicted adviser remuneration rules

ALEX BURKE  |  THURSDAY, 7 DEC 2017
... deadline on January 1, Regulatory Guide 246 (RG 246) takes into account the additional provisions introduced in the Corporations Amendment (Life Insurance Remuneration Arrangements) Act 2017. Aside from the broad ban on commissions involved in the sale ...