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Showing 51 - 60 of 1448 results for "STOP"

ASIC issues first-of-its-kind stop order

CASSANDRA BALDINI  |  MONDAY, 5 JUN 2023
Mitrade Global has been hit with the first stop order to be issued under the design and distribution obligations' (DDO) failure to take reasonable steps provision, with the order relating to its distribution of contracts for difference (CFD). The stop ...

Spaceship told to cease super, funds distribution

JAMIE WILLIAMSON  |  FRIDAY, 2 JUN 2023
Spaceship is the first superannuation fund to be slapped with stop orders, which have also been applied to its Voyager Funds series. The orders apply to the Spaceship Earth Portfolio, Spaceship Origin Portfolio, Spaceship Universe Portfolio, and Spaceship ...

HESTA pushes for gig worker super entitlements

ANDREW MCKEAN  |  MONDAY, 29 MAY 2023
... consultation. The super system was founded on the vision of universality, and as employment conditions evolve, its crucial to stop gig workers from falling through the gaps, Blakey said. "Super is for everyone, and we need to ensure that all workers ...

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
... referred to ASIC. CFDs and their issuers have faced significant regulatory scrutiny of late. Just last week, ASIC issued stop orders to Saxo Capital Markets which were then revoked after it made changes to its target market determinations in relation ...

BNPL to be regulated under Credit Act

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
The government has handed down its plan to regulate buy now, pay later (BNPL) providers and products under the Credit Act to strengthen consumer outcomes. Historically, BNPL schemes have been exempt from tough regulation as they do not charge interest ...

ASIC issues stop orders to Saxo

CASSANDRA BALDINI  |  FRIDAY, 19 MAY 2023
... Saxo Capital Markets was forced to amend its target market determinations after the regulator raised concerns. ASIC said the stop orders, handed down on Tuesday, prevented Saxo from issuing new contracts for difference (CFDs) to retail clients because ...

PwC chief exits over scandal

CASSANDRA BALDINI  |  TUESDAY, 9 MAY 2023
... obtained during a confidential consultation with Treasury in relation to tax law changes. This included introducing new rules to stop multinationals from avoiding tax by shifting profits from Australia to tax and secrecy havens. Last Friday, Seymour ...

UK to ban cold calling on all financial products

JAMIE WILLIAMSON  |  FRIDAY, 5 MAY 2023
... broader strategy for tackling scams. In an announcement from prime minister Rishi Sunak, the government said it is going to stop scams before they reach people. In part, this will be done by implementing a blanket ban on cold calling in relation to financial ...

Issuers must lift DDO game: ASIC

CASSANDRA BALDINI  |  THURSDAY, 4 MAY 2023
... found woeful compliance in meeting the design and distribution obligations (DDO). Since last July, ASIC has placed interim stop orders on 26 investment products from 18 issuers which totals $6.6 billion in funds backed by retail investors. These actions ...

RBA verdict on knife edge: Economists split

ANDREW MCKEAN  |  TUESDAY, 2 MAY 2023
As anticipation builds for today's Reserve Bank of Australia (RBA) meeting, economists are sharply divided on the outcome. Last month, the RBA held the cash rate steady at 3.6%. However, leading economists cautioned Australians not to discount the possibility ...