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Showing 671 - 680 of 722 results for "Misconduct"

Storm claim unfair and baseless: CBA

LAURA MILLAN  |  MONDAY, 15 JUL 2013
... action lawsuit against Commonwealth Bank that started in July 2010. ASIC's slow reaction on investigating cases of misconduct within the Commonwealth Bank financial planning unit prompted a Senate inquiry into ASIC's performance. The inquiry will take ...

Storm lawyers take ASIC and CBA to court over settlement

LAURA MILLAN  |  FRIDAY, 12 JUL 2013
... integrity in the performance of its role as a model litigant," Levitt said. ASIC's slow reaction on investigating cases of misconduct within the Commonwealth Bank financial planning unit prompted a Senate inquiry into ASIC's performance. The inquiry ...

ASIC far too slow to act on misconduct: Senator

LAURA MILLAN  |  FRIDAY, 21 JUN 2013
The Australian Securities and Investments Commission (ASIC) has been "far too slow to act" on misconduct in the financial services industry, Nationals senator John Williams told Financial Standard. Yesterday Williams introduced a motion into Parliament ...

ASIC to face parliamentary inquiry over CBA

LAURA MILLAN  |  THURSDAY, 20 JUN 2013
... Commission (ASIC), after it was revealed that the regulator took 16 months to act on information that suggested serious misconduct in Commonwealth Bank financial planning. The vote took place today following a notice of motion by senator John Williams ...

SPAA approves government's response to Trio reports

LAURA MILLAN  |  TUESDAY, 30 APR 2013
... counter-productive". "SPAA will continue to advocate for such a scheme where clients have suffered financial losses because of the misconduct or insolvency of an AFS licensee, and that the compensation should be funded by a levy imposed on that sector ...

ASIC speeds up misconduct probe

MARK SMITH  |  WEDNESDAY, 27 FEB 2013
... assumed responsibility for market supervision in August 2010, 42 were made within 30 days of identifying the possible misconduct, and 93 were made in less than 60 days. The regulator said that it also continues to refine its systems for flagging suspicious ...

Harsh ASIC ban on Seagrim slashed

BEN COLLINS  |  FRIDAY, 7 SEP 2012
... from 27 June 2011 to December 2011. It was found that their breach of the Corporations Act did not constitute serious misconduct. ASIC took action against the Seagrims after - in their capacity as sole directors of Seagrims Pty Ltd - they failed to disclose ...

Commbank knew of potential Storm collapse: lawyers

BEN COLLINS  |  WEDNESDAY, 22 AUG 2012
... if one is sought by ASIC. Levitt told Financial Standard that this would allow the banks to avoid scrutiny of their misconduct during the global financial crisis. He said the aims of the corporate regulator and those of his clients do not align as ASIC ...

Storm's victims counselled against settlement

BEN COLLINS  |  WEDNESDAY, 15 AUG 2012
... (ASIC) to accept an out of court settlement on the pretext that it would enable the banks to avoid scrutiny of their misconduct during the GFC. Levitt expects the value of the compensation claim against the banks associated with Storm to be higher than ...

Barclays fined $A451 million

BEN COLLINS  |  THURSDAY, 28 JUN 2012
... Authority (FSA) said. The FSA's acting director of enforcement and financial crime, Tracey McDermott, said Barclays' misconduct had been "serious, widespread and extended over a number of years." The FSA said that it was continuing "to pursue a number ...