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Showing 671 - 680 of 1713 results for "Breach"

Sole purpose test poses SMSF rent relief issue

ELIZABETH MCARTHUR  |  TUESDAY, 26 MAY 2020
... lease and any deviation from the lease terms, or altering the terms of the lease in favour of the related tenant, could breach the superannuation laws," SISFA said. "However, during the COVID-19 crises there is arguably no normal and, therefore, arm's ...

IOOF settles class action

JAMIE WILLIAMSON  |  MONDAY, 25 MAY 2020
IOOF has settled one of the class actions brought against it on the back of the Royal Commission. The wealth group announced to the ASX this morning it has settled in the class action brought by Quinn Emanuel Urqhart & Sullivan in April 2019. The class ...

Boutique launches sustainable Aussie equities strategy

KANIKA SOOD  |  TUESDAY, 19 MAY 2020
A Legg Mason boutique that manages $20 billion has launched a new sustainable equity strategy that will use proprietary sustainability analysis instead of just relying on negative screening. Martin Currie Australia Sustainable Equity Strategy will be ...

ASIC revokes AFSL suspension, cancels another

ELIZA BAVIN  |  TUESDAY, 19 MAY 2020
ASIC has cancelled the AFSL of a financial services provider and revoked its suspension of a separate AFSL. The regulator revoked the ASFL of NSW-based Tailormade Financial Strategies, effective 9 April 2020. ASIC said it cancelled the AFSL because ...

Westpac admits to failures

ELIZABETH MCARTHUR  |  MONDAY, 18 MAY 2020
On Friday, Westpac filed its defence in the Federal Court in relation to proceedings brought by AUSTRAC regarding alleged breaches of anti-money laundering and counter terrorism financing laws. "Westpac accepts the gravity of the issues raised by the ...

Trust in big four improves

ALLY SELBY  |  MONDAY, 11 MAY 2020
Consumer trust in Australia's big four banks has made headways during the COVID-19 crisis, yet despite the improvement they still don't make the top 10. Surveying 1250 Australians in relation to 31 banks, the Australian Banking Brand and Trust index ...

ASIC releases weekly regulatory tracker

ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
... key business as usual functions will be maintained including registry operations and services, receipt of whistleblower, breach and misconduct reports and general contact points for industry.

ERS paused as AFP investigates fraud

ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
Deputy Treasurer Michael Sukkar confirmed the ATO has paused requests for early release being sent to super funds, as the AFP investigates identity theft. Speaking to Sky News this morning, Sukkar emphasised that the ATO has not been compromised and ...

AFSL pleads guilty to mishandling client money

KANIKA SOOD  |  THURSDAY, 7 MAY 2020
... offence carries a maximum penalty of 250 penalty units (approximately $45,000). "PSAL also admitted guilt to a third s993B(1) breach that took place on 21 August 2017. As part of the plea, PSAL will not be sentenced on this breach but it will be taken ...

QSuper not to appeal AFCA win

KANIKA SOOD  |  THURSDAY, 7 MAY 2020
The $110 billion superannuation fund has decided to not appeal a Federal Court order upholding an AFCA decision but says it creates further obligations for superannuation trustees. In April, QSuper's board appealed unsuccessfully to the Federal ...