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Showing 51 - 60 of 890 results for "Failing"

ASIC raises alarm on auditor independence, conflicts of interest

KARREN VERGARA  |  WEDNESDAY, 8 OCT 2025
Too many auditors are failing the independence test and breaching conflicts of interest obligations, according to an ASIC investigation. A review of 15 audit firms saw nine did not meet rotation requirements while five of them had "relevant relationships" ...

ASIC sues Fiducian for ESG failures

ELIZA BAVIN  |  FRIDAY, 3 OCT 2025
... perfunctory approach to its oversight of the fund, attracting investors with claims it made no effort to validate, and in failing to independently monitor investments in the underlying funds to ensure they were consistent with the representations in ...

Hostplus slams Lendlease over $2bn fund

ELIZA BAVIN  |  TUESDAY, 30 SEP 2025
... sovereign wealth funds and other member-based organisations, to absent themselves from these meeting," Hostplus said. "By failing to attend, those other investors have denied their own stakeholders a voice in how their capital will be managed. Fiduciary ...

Macquarie to pay Shield victims in full

JAMIE WILLIAMSON  |  THURSDAY, 25 SEP 2025
... was done so via platforms tied to Equity Trustees. ASIC has already commenced proceedings against Equity Trustees for failing to exercise the degree of care and diligence expected of a super trustee. Equity Trustees vowed to fight the claims, saying ...

ANZ fined $240m for bond trading, retail misconduct

KARREN VERGARA  |  MONDAY, 15 SEP 2025
... lion's share of the civil penalty relates to ANZ admitting it acted unconscionably and misled the government, as well as failing to meet its AFSL obligations when it managed the 10-year treasury bond deal and produced inaccurate reporting. For this ...

Fewer global equity managers underperform: SPIVA

KARREN VERGARA  |  TUESDAY, 9 SEP 2025
... at an average of 2%. Fund liquidation has stabilised among Australian equity A-REITs after nine (18%) out of 51 funds failing to survive during 2024. The attrition rate increased over the long run, with 52% of funds across all categories having merged ...

Federal Court slaps Mawhinney with 15-year ban

KARREN VERGARA  |  MONDAY, 8 SEP 2025
... 2020. Mayfair 101 Group also engaged in misleading or deceptive conduct from 11 March 2020 and prior to 2 April 2020 by failing to disclose in marketing material that investor redemptions had been suspended. The latest decision shows Justice Button's ...

FAAA calls for other sectors to help pay $67m CSLR bill

ELIZA BAVIN  |  WEDNESDAY, 3 SEP 2025
In its submission to the Treasury consultation on the Compensation Scheme of Last Resort (CSLR) Special Levy for 2025/26, the Financial Advice Association Australia (FAAA) said financial advisers should not be expected to pay more than the $20 million ...

Societe Generale fined $3.88m

ELIZA BAVIN  |  TUESDAY, 2 SEP 2025
... Generale (SocGen) has been fined $3.88 million by the Market Disciplinary Panel (MDP), following an ASIC investigation, for failing to prevent suspicious orders from being placed on the electricity and wheat futures market. ASIC said SocGen breached ...

Shield-linked advice firm director, compliance manager banned

JAMIE WILLIAMSON  |  THURSDAY, 28 AUG 2025
... templated Statements of Advice (SOAs) to advisers that contained misleading representations of Shield's performance; and failing to properly assess Shield before adding it to the firm's approved product list. ASIC said MWL also did not disclose ...