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Showing 671 - 680 of 6430 results for "Regulatory"

'Incompetent' adviser permanently banned by ASIC

MATTHEW WAI  |  FRIDAY, 14 MAR 2025
A Sydney-based financial adviser has been permanently banned for acting dishonestly and exhibiting a fundamental lack of knowledge, integrity, and professionalism, ASIC said. Peter Surtenich has been permanently banned on March 6 from providing any ...

BUSSQ abandons appeal, concedes to licence conditions

ANDREW MCKEAN  |  THURSDAY, 13 MAR 2025
BUSSQ has pulled the plug on its Federal Court appeal for a judicial review of APRA's additional licence conditions, caving to the regulator's edict. At the same time, APRA has tweaked the conditions it slapped on BUSSQ last August, which force ...

UK regulators abandon DEI reporting push

JAMIE WILLIAMSON  |  THURSDAY, 13 MAR 2025
... organisations, claiming they wish to "avoid additional burdens on firms at this time." The FCA and PRA - which is the regulatory arm of the Bank of England - launched a consultation in 2023 aimed at boosting diversity in financial services. It followed ...

ASIC slaps FIIG Securities with lawsuit

JAMIE WILLIAMSON  |  THURSDAY, 13 MAR 2025
FIIG Securities will face court over allegations of longstanding cybersecurity failures which saw the private data of more than 18,000 clients stolen and released on the dark web. According to ASIC, FIIG failed to have adequate cyber risk management ...

Quadrant Private Equity invests in LegalVision

ANDREW MCKEAN  |  WEDNESDAY, 12 MAR 2025
... the UK. LegalVision was advised by Gilbert + Tobin and Allier Capital. However, the transaction is still waiting on regulatory sign-off. Financial Standard sought comment from LegalVision on the terms of Quadrant's investment, including the size of the ...

AustralianSuper sued over death benefit delays

JAMIE WILLIAMSON  |  WEDNESDAY, 12 MAR 2025
Australia's largest super fund is being sued by ASIC over the delayed processing of close to 7000 death benefit claims, with some beneficiaries left waiting four years for a payout. The regulator has commenced federal court proceedings against AustralianSuper ...

Beware creep of cancel culture into super fund governance: Lawyer

ANDREW MCKEAN  |  FRIDAY, 7 MAR 2025
The prudential regulator is calling for the consideration of perceived conflicts of interest and reputational risks when appointing directors, and while it's easy to think of cases where this would be appropriate, Gilbert + Tobin partner Luke Barrett ...

Tokenisation can save US$135m in back-office costs: Study

KARREN VERGARA  |  FRIDAY, 7 MAR 2025
... cost saving on fund accounting, 25% on transfer agency costs, and 24% on compliance monitoring, client reporting, and regulatory reporting. Overall, asset managers could achieve savings of 23% in operating costs, equivalent to 0.13% of assets under management ...

ASIC bans adviser jailed for supplying drugs

MATTHEW WAI  |  FRIDAY, 7 MAR 2025
ASIC has banned Northern Territory financial adviser Harris Shortland for seven years, following his conviction for supplying dangerous drugs. In December 2021, Shortland was convicted on drug offences after having been arrested in July 2018 for importing ...

Super, insurance, and bank boards' 'poor practices' targeted by APRA

ANDREW MCKEAN  |  THURSDAY, 6 MAR 2025
The boards of superannuation trustees, insurers, and banks are on notice, with APRA proposing changes to "strengthen and streamline" governance requirements. The regulator has released eight proposals in what marks the first "significant update" of ...