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Showing 691 - 700 of 4166 results for "Action"

Industry grapples with looming cyber threats

CHLOE WALKER  |  THURSDAY, 27 JUL 2023
... are ramping up. "The proceedings against RI Advice are of interest because they show ASIC's appetite to take enforcement action against companies that fail to meet reasonable standards in managing cyber risks," he notes. And APRA regulations are now ...

ASIC acts against illegal investment scheme operator

JAMIE WILLIAMSON  |  WEDNESDAY, 26 JUL 2023
... that, among other investors, targeted SMSF members. Sasha Hopkins, director of The A Team Property Group, is facing civil action for alleged unlicensed conduct and running several unregistered schemes. ASIC is alleging that Hopkins offered clients property ...

Credit Suisse fined $575m by regulators

CASSANDRA BALDINI  |  TUESDAY, 25 JUL 2023
... announcement, the PRA stated that the fine imposed on the bank was its highest ever. Additionally, it was noted that this action also represented the first occurrence of an enforcement investigation exposing violations of four PRA Fundamental Rules. ...

ASIC continues to reprimand SMSF auditors

CHLOE WALKER  |  MONDAY, 24 JUL 2023
... and it is crucial that SMSF auditors comply with their regulatory obligations," Press said. "ASIC will continue to take action where the conduct of SMSF auditors is inadequate." In November last year, ASIC commissioner Sean Hughes said the regulator ...

IFM drops $50m on local infrastructure player

CASSANDRA BALDINI  |  FRIDAY, 21 JUL 2023
IFM Investors has backed utilities and communications provider Smart Urban Properties Australia (SUPA), making a $50 million investment. The global fund manager said it entered into a binding agreement with SUPA Group, which provides dual energy infrastructure ...

Trustees lack urgency, strategy on RIC: Regulators

KARREN VERGARA  |  TUESDAY, 18 JUL 2023
... insufficient urgency. As more members approach retirement, trustees must step up and deliver both well-considered strategies and action to support members in retirement," Cole said. ASIC commissioner Danielle Press reminded super funds that helping members ...

CFS settles super fees class action

JAMIE WILLIAMSON  |  FRIDAY, 14 JUL 2023
Colonial First State will pay $100 million to settle a class action over fees that were illegally charged to members to pay commissions to financial advisers. The action related to members of CFS FirstChoice and conduct carried out between July 2013 ...

ACCC publishes draft guidance on greenwashing

RACHEL ALEMBAKIS  |  FRIDAY, 14 JUL 2023
... assessing the steps taken to verify environmental claims," the guidance said. "The ACCC is more likely to take enforcement action in respect of representations about future matters regarding environmental claims where a business did not have reasonable ...

US regulators launch investigation into OpenAI

CASSANDRA BALDINI  |  FRIDAY, 14 JUL 2023
... of harm to consumers, including reputational harm, in violation of Section 5 of the FTC Act and whether the Commission action to obtain monetary relief would be in the public interest." In response to the investigation, OpenAI chief executive Sam Altman ...

UK pensions tapped to strengthen local startups

CASSANDRA BALDINI  |  TUESDAY, 11 JUL 2023
... than £5 billion had to pass a series of value-for-member tests. If they failed the test and didn't take immediate action, they would be forcibly wound up.