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Showing 51 - 60 of 4981 results for "ASIC"

Systemic issues impact 20k consumers: AFCA

MATTHEW WAI  |  MONDAY, 11 NOV 2024
... firm's settlement agreement was "inconsistent" with AFCA's approach in investments and advice and has since consulted with ASIC to investigate the matter further. The financial firm was using a "deed of release" to settle AFCA complaints, but the terms ...

ASIC chair defends Chairman's Lounge memberships

JAMIE WILLIAMSON  |  THURSDAY, 7 NOV 2024
ASIC's leadership team has been questioned over their respective Qantas Chairman's Lounge memberships and whether they believe it's appropriate to maintain them. Appearing before the Economics Legislation Committee today, chair Joe Longo - who appeared ...

Federal Court quashes case against ex-Dixon Advisory director

ANDREW MCKEAN  |  WEDNESDAY, 6 NOV 2024
The Federal Court has dealt ASIC a legal blow, dismissing its case against former Dixon Advisory director Paul Ryan and ordering the corporate regulator to cover his legal costs. The regulator accused Ryan of contravening his statutory duties as a director ...

Federal Court appoints receivers to ALAMMC Developments

ANDREW MCKEAN  |  TUESDAY, 5 NOV 2024
... within 28 days. The appointment of receivers over the 13 ALAMMC Developments corporate entities follows urgent action taken by ASIC to obtain asset preservation orders, and the appointment of the same receivers over the personal property of McWilliams ...

ACCC urges parliament to pass new merger laws

ELIZA BAVIN  |  MONDAY, 4 NOV 2024
... and services. "While the government is yet to consult on the potential for an unfair trading practices prohibition in the ASIC Act to cover financial products and services as well, the ACCC strongly supports a mirror reform being implemented in the ASIC ...

ANZ suspected of more mistakes amid bond saga

MATTHEW WAI  |  MONDAY, 4 NOV 2024
... investigation, commenced April last year, is currently ongoing. Appearing before the Parliamentary Joint Committee last Friday, ASIC chair Joe Longo said: "Our investigation concerns suspected market manipulation and contraventions of a number of provisions ...

Licensees pay $92m in compensation

ELIZA BAVIN  |  FRIDAY, 1 NOV 2024
ASIC has released its third publication on information lodged under the reportable situations regime. The publication provides high-level insights into reporting trends from 1 July 2023 to 30 June 2024, and covers licensee population reporting, breach ...

Non-bank lender sued for dodging Credit Code

JAMIE WILLIAMSON  |  THURSDAY, 31 OCT 2024
... sophisticated investors, the Oak Capital Mortgage Fund and Oak Capital Wholesale Fund. Filing a case with the Federal Court, ASIC alleges Oak Capital made close to 50 loans over a four-year period to companies that it had no reason to believe were the ...

Gap exists between licensees' AI use and governance processes: ASIC

MATTHEW WAI  |  TUESDAY, 29 OCT 2024
... found instances of artificial intelligence (AI) use that was at risk of being at odds with their regulatory obligations. ASIC reviewed more than 600 AI use cases across 23 licensees as at the end of 2023, which included operations in the financial advice ...

ASIC secures win against HCF Life

ELIZA BAVIN  |  TUESDAY, 29 OCT 2024
The Federal Court has ruled in ASIC's favour, finding that a 'pre-existing condition' term in certain HCF Life policies was liable to mislead the public. The term was used in three contracts issued under HCF Life's 'Recover' range of products. ASIC ...