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Showing 51 - 60 of 499 results for harm

ASIC revises IDR reporting framework

JAMIE WILLIAMSON  |  MONDAY, 8 MAY 2023
ASIC has further staged the implementation timeframe for internal dispute resolution data reporting. In total, 8600 financial firms will report their customer complaints data for the first time under the framework. The first group to do so comprised ...

Issuers must lift DDO game: ASIC

CASSANDRA BALDINI  |  THURSDAY, 4 MAY 2023
... alike," said ASIC deputy chair Karen Chester. "Poor product design or distribution puts retail investors at risk of financial harm, ending up in products that don't meet their needs. The fact that we have issued 26 stop orders on investment products ...

Modern slavery on the rise a decade on from Rana Plaza

RACHEL ALEMBAKIS  |  FRIDAY, 21 APR 2023
It is 10 years since more than 1000 people died in the Rana Plaza textile factory collapse in Bangladesh in April 2013. In the intervening years, regulations to improve factory safety has been introduced in Bangladesh, and issues related to worker safety ...

Apple dives deeper into financial services

CASSANDRA BALDINI  |  TUESDAY, 18 APR 2023
... inquiry into big tech firms like Google, Facebook Amazon and Apple entering financial markets with fears the competition could harm the space. At the time, Consumers and Competition executive director Sheldon Millis said in recent years, big tech's entry ...

Brighter Super forges ahead with SFT

KARREN VERGARA  |  MONDAY, 17 APR 2023
Brighter Super has provided an update about its pending merger with Suncorp's superannuation business, which will officially occur on June 1. Suncorp Super or the SPSL Master Trust members will be transferred to Brighter Super and see their account ...

ASIC cans Binance AFSL

KARREN VERGARA  |  TUESDAY, 11 APR 2023
ASIC cancelled the financial services licence of Binance following concerns about the cryptocurrency exchange's operations in Australia. Effective April 6, the AFSL of Oztures Trading, which trades as Binance Australia Derivatives, was cancelled. From ...

Australians want super safeguard: ISA

CASSANDRA BALDINI  |  MONDAY, 3 APR 2023
According to new data, 80% of Australians agree that super is for providing financial security in retirement and support law changes that will deter early release. As the government's consultation on legislating super objectives closes, Industry ...

Taskforce exposes rising dangers for retail investors

ANDREW MCKEAN  |  FRIDAY, 31 MAR 2023
... of escalating threats to retail investors. The findings will shape ASIC's strategic priorities concerning retail investor harm, focusing on crypto assets, sustainable finance, scams, and Australia's design and distribution (DDO) laws. The report revealed ...

New Australian digital assets bill to regulate crypto

ANDREW MCKEAN  |  THURSDAY, 30 MAR 2023
... tackle parts of the industry that mirror tradefi and regulating inherently negative human behaviour and limiting investor harm, she said. "At first read, it does not seem to address the wider issues on DeFi, or the varying nature of digital assets. It's ...

Kapstream wins new mandate

KARREN VERGARA  |  TUESDAY, 28 MAR 2023
Kapstream Capital has scored a new mandate from an $8.4 billion fund manager. Australian Ethical has appointed the fixed income specialist to its stable. In selecting Kapstream, Australian Ethical deputy chief investment officer and head of multi assets ...