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Showing 741 - 750 of 4211 results for "Action"

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ACCC publishes draft guidance on greenwashing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.

Federal Reserve plans upping capital requirements

CASSANDRA BALDINI  |  TUESDAY, 11 JUL 2023
... insured and uninsured-and assets of the former SVB to a newly created, full-service FDIC-operated 'bridge bank' in an action designed to protect depositors. The US$209 billion SVB collapse marked the second largest failure in US history by assets. ...

Asset managers dismiss liquidity risks: FCA

KARREN VERGARA  |  FRIDAY, 7 JUL 2023
... their firms are not amongst the minority with serious gaps in managing liquidity risk. It's vital the outliers take quick action. They risk regulatory intervention if they don't take this opportunity to address weaknesses," she said. The FCA issued the ...

Openmarkets hit with largest ever MDP penalty

ANDREW MCKEAN  |  THURSDAY, 6 JUL 2023
Openmarkets Australia has paid a $4.5 million penalty, the largest sanction ever imposed by an ASIC Market Disciplinary Panel, after contravening market integrity rules. An ASIC investigation was triggered by a series of transgressions, most notably ...

Frontier calls for better unlisted asset valuations

ANDREW MCKEAN  |  WEDNESDAY, 5 JUL 2023
... to hold fund managers to account regarding the accurate valuation of unlisted assets. The consulting firm was spurned to action amid robust growth in the superannuation sector, with an increased focus on unlisted assets. This trend has caught the attention ...

AMP loses BOLR changes class action

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... longstanding adviser contracts with a view to saving shareholders' money. In July 2020, the advisers filed the class action against AMPFP. At the time of filing, The Advisers Association (TAA) chief executive Neil Macdonald said its AMPFP members ...