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Showing 51 - 60 of 2629 results for %22ASIC Act%22

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN  |  FRIDAY, 2 FEB 2024
ASIC deputy chair Sarah Court has reaffirmed that the corporate regulator is targeting member service failures, greenwashing, and inappropriate fees and charges, cautioning the superannuation industry to lift its game. At an industry event, Court said ...

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... the coming months and will also review RSE licensees' self-assessments in relation to the Retirement Income Covenant and ASIC and APRA's joint report on progress of implementation from July last year. Following that, it will engage with entities to address ...

AI is not the 'Wild West': Longo

CHLOE WALKER  |  THURSDAY, 1 FEB 2024
... intelligence (AI), existing obligations around good governance and the provision of financial services remain robust, according to ASIC chair Joe Longo. Addressing the crowd yesterday at the UTS Human Technology Institute 'Shaping Our Future' Symposium ...

Australian Ethical super chief goes for growth in 2024

ANDREW MCKEAN  |  TUESDAY, 23 JAN 2024
Australian Ethical is transitioning its administration to Grow Inc in 2024, while also aspiring to accelerate growth in response to an increasing preference for ethical investments, says chief executive of superannuation Ross Piper. In an interview ...

ME Bank fined $820k for misleading borrowers

CHLOE WALKER  |  MONDAY, 22 JAN 2024
... customers. The matter, prosecuted by the Commonwealth Director of Public Prosecutions, followed an investigation and referral by ASIC. The regulator found the bank sent 589 letters to home loan customers between 25 May 2018 and 3 September 2018, informing ...

Adviser registration deadline moves to February 16

KARREN VERGARA  |  FRIDAY, 19 JAN 2024
ASIC has again pushed back the financial adviser registration deadline in fear that many relevant providers will not make the February 1 cut off. The 4036 advisers who as of January 18 have outstanding registrations, according to ASIC, now have until ...

Advisers urged to check ASIC registration status

JAMIE WILLIAMSON  |  THURSDAY, 18 JAN 2024
... Financial Advice Association Australia (FAAA) says there's close to 6000 financial advisers who are still not registered with ASIC. Under the Financial Sector Reform (Hayne Royal Commission Response - Better Advice) Act 2021, all relevant providers must ...

Government proposes framework for clearing and settlement services regulation

ANDREW MCKEAN  |  WEDNESDAY, 17 JAN 2024
... services. The proposed instrument, issued under the authority of assistant treasurer Stephen Jones, outlines the framework for ASIC to enforce rules governing the conduct and activities of CS facility licensees and associated entities. However, the imposition ...

Treasury releases climate disclosure draft legislation

RACHEL ALEMBAKIS  |  TUESDAY, 16 JAN 2024
... see the government listening to market concerns and introducing a sensible period of regulator-only enforcement. We trust ASIC to take action based on the public interest." Much like the Modern Slavery Act, the government will conduct a review of climate ...

Court fines Linchpin, Endeavour directors

KARREN VERGARA  |  THURSDAY, 11 JAN 2024
... years. Raftery will pay a $40,000 penalty and be banned from managing a corporation for three years. The trio did not contest ASIC's suggested penalty amount that they should pay. Daly, however, contested ASIC's penalty submissions, and will pay $150,000. ...