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Showing 661 - 670 of 894 results for "Failing"

ASIC begins legal action against LM Investment Management

MARK SMITH  |  THURSDAY, 20 NOV 2014
... Drake used his position to gain an advantage for himself and the former directors breached their director's duties for failing to act with the proper degree of care and diligence regarding transactions involving the LM Managed Performance Fund (MPF). ...

ASIC intervenes non-compliant Aurora listed funds

LAURA MILLAN  |  FRIDAY, 14 NOV 2014
Aurora Funds Management has entered into an enforceable undertaking (EU) with the Australian Securities and Investments Commission (ASIC) after the regulator identified compliance failings in some of its listed investment schemes. ASIC is concerned ...

Australians miss out on billions in unpaid super

JAMES FERNYHOUGH  |  WEDNESDAY, 8 OCT 2014
... undermines the majority of employers who are doing the right thing in a highly competitive bidding process for work. "Employers failing in their superannuation payment obligation is also especially dangerous in construction given the level of entries ...

ASIC bans former Synchron adviser

STAFF WRITER  |  TUESDAY, 23 SEP 2014
... Commission (ASIC) has banned a former Synchron financial adviser from providing financial services for five years for failing to provide Statements of Advice (SOAs). Michael Richard Irwin, a Rockhampton-based former financial adviser was banned on the ...

Merrill Lynch Equities Australia handed $96,000 fine

MARK SMITH  |  FRIDAY, 12 SEP 2014
... Disciplinary Panel. The Australian Securities and Investments Commission (ASIC) said the company received the penalty for failing to have in place an appropriate automated price filter in relation to automated order processing for one client account ...

Penalties for fund managers too lenient

MARK SMITH  |  WEDNESDAY, 10 SEP 2014
The penalties dealt out to fund managers who commit fraud are not a severe enough deterrent, according to a senior university lecturer. Dr Pelma Rajapakse of Griffith University was commissioned to write a report by the Australian Centre for Financial ...

Big four fail in cross-selling retail super funds

LAURA MILLAN  |  THURSDAY, 4 SEP 2014
Australia's big four banks are failing to cross-sell their retail superannuation products to their existing banking customers, the latest Roy Morgan research shows. Each of the banks is capturing less than 20% of their customers' superannuation balances ...

ASIC cracks down on advisers over PI insurance

LAURA MILLAN  |  THURSDAY, 7 AUG 2014
... remaining licensees. ASIC deputy chairman Peter Kell said: "This review has assisted ASIC to remove licensees which are failing to meet their professional indemnity obligations and further, to identify licensees that are no longer active."

Claims against advice arm have no factual basis: Macquarie

LAURA MILLAN  |  MONDAY, 4 AUG 2014
Macquarie Group has denied recent media reports claiming its advisers cheated on competency tests and exposed clients to high-risk investments, saying that it would refer the matter to the Australian Press Council (APC). In a statement on its website ...

ASIC cancels 8 AFSLs after review

LAURA MILLAN  |  TUESDAY, 22 JUL 2014
... longer operating a financial services business. A further seven licensees face possible suspension or cancellation for failing to lodge audited annual statements. The annual lodgement of audited accounts is an important part of a licensee demonstrating ...