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Showing 731 - 740 of 1678 results for "Breach"

CommInsure charged over hawking

HARRISON WORLEY  |  FRIDAY, 4 OCT 2019
CommInsure has been charged with 87 counts of making unsolicited telephone calls to sell life insurance, and faces up to $1.8 million in penalties. ASIC is alleging the Commonwealth Bank subsidiary unlawfully sold life insurance policies over the phone ...

AUSTRAC orders audit of PayPal

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
... Australian community." PayPal Australia may be subject to fines or even possible criminal prosecution if found to be in breach of the Anti-Money Laundering and Counter -Terrorism Financing Act 2006. AUSTRAC said it will work closely with the company ...

UK insurer fined for annuity sales failings

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
UK-based insurer Prudential has been hit with a £24 million (AU$43.6 million) fine after failing to advise customers they may receive a better deal on annuities if they shopped around. The Financial Conduct Authority said Prudential failed to ensure ...

Adviser cops three-year ban

KANIKA SOOD  |  WEDNESDAY, 25 SEP 2019
The Australian Securities and Investments Commission banned a financial adviser from providing any financial services for a period of three years. The corporate regulator made a banning order against Kyle Jonothan Perry Marshall under the Corporations ...

APRA considers appeal in IOOF case

ELIZA BAVIN  |  MONDAY, 23 SEP 2019
... outcomes are inherently unpredictable, however APRA remains prepared to launch court action, where appropriate, when entities breach the law or fail to act in an open and cooperative manner," she said. APRA left the door open for an appeal and, despite ...

Major super funds caught in fraud scandal

ELIZA BAVIN, JAMIE WILLIAMSON  |  WEDNESDAY, 18 SEP 2019
Several of Australia's largest superannuation funds were targeted by an online fraud syndicate which siphoned millions from share-trading and super accounts. A Melbourne woman appeared in court yesterday after allegedly taking part in an online ...

Licensee faces hefty remediation bill

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 SEP 2019
Australian financial services license holder ClearView Financial Advice has been hit with a remediation bill for $730,000. ClearView's review and remediation program for over 200 clients who received poor life insurance advice resulted in the figure. ...

Dealer group to fight grandfathered commissions ban

ELIZABETH MCARTHUR  |  FRIDAY, 13 SEP 2019
... may be wiped out unilaterally by fund managers feeling obligated to stop paying grandfathered commissions, potentially in breach of their distribution agreements." He added that advisers may have to be prepared to litigate against fund managers if it ...

BT faces fees for no service class action

ELIZABETH MCARTHUR  |  FRIDAY, 6 SEP 2019
Westpac confirmed it has received a class action filed against BT Funds Management and Westpac Life Insurance Services in relation to BT's Super for Life cash investment option. Slater & Gordon filed the action on behalf of Tracey Ghee. Westpac ...

AMP hires head of whistleblowing

ELIZABETH MCARTHUR  |  MONDAY, 2 SEP 2019
AMP has appointed a group whistleblowing officer as it pumps $100 million into its governance, risk and controls. Anne-Marie Paterson steps into the role, joining AMP from Commonwealth Bank where she was the executive manager and whistleblower investigation ...