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Showing 751 - 760 of 5609 results for "ASIC"

ASIC intends to extend legislative instruments

MATTHEW WAI  |  FRIDAY, 9 AUG 2024
ASIC is set to extend three legislative instruments for five years, one of which relates to record keeping for financial advisers. The instruments are: Class Order [CO 14/923] Record-keeping obligations for Australian financial services licensees when ...

FAAA calls on advisers: 'We ask for your support'

ELIZA BAVIN  |  FRIDAY, 9 AUG 2024
... regulation impact statement for the CSLR. The FAAA also took aim at the Australian Securities and Investments Commission (ASIC) for "failing to take action against Dixon Advisory in a timely manner" and for postponing the end date of Dixon's AFCA membership. ...

Australia sees jump in zombie companies

ELIZA BAVIN  |  THURSDAY, 8 AUG 2024
... risks for Australian businesses," Kearney said. The report comes after the Australian Securities and Investments Commission (ASIC) said fewer than one in 10 liquidators have adopted a simplified liquidation process when winding up companies with debts ...

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
... compensation up to $150,000. We effectively step in on behalf of the organisation. But as we do that, we're required to let ASIC know that we've made the payment and under that legislation ASIC is then required to cancel the licence of that entity." ...

Mercer Super cops landmark $11.3m greenwashing penalty

KARREN VERGARA  |  FRIDAY, 2 AUG 2024
... Mercer Superannuation Australia has been slapped with a whopping $11.3 million penalty by the Federal Court on the back of an ASIC-led greenwashing investigation. Mercer was found to make misleading statements on its website about seven Sustainable Plus ...

Former wealth management chief ousted from financial services

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
... regulator's decision to cancel United Global Capital's (UGC's) AFS licence. UGC's AFS licence was revoked following a damning ASIC investigation which revealed that the firm's authorised representatives had contacted prospective clients, urged them to ...

Court rejects former fund manager's appeal

KARREN VERGARA  |  WEDNESDAY, 31 JUL 2024
... as transfer funds into a trading account held in his wife's name, Kathleen Susan Munro. He was arrested in 2015 following ASIC's allegation of five counts of fraud under s408c of the Queensland Criminal Code and that he operated a financial services ...

ASIC proposes cash equity clearing and settlement rules

ANDREW MCKEAN  |  TUESDAY, 30 JUL 2024
ASIC has released a consultation paper on proposed rules to facilitate competitive outcomes in cash equity clearing and settlement (CS) services provided by the ASX Group. The corporate regulator's release of the consultation paper marks the first exercise ...

Trend among young Aussies highlights need for affordable advice

ELIZA BAVIN  |  MONDAY, 29 JUL 2024
... a number of examples of high-pressure marketing tactics, including targeting account holders through social media, which ASIC has identified as a growing concern. "Most scams begin through interactions over platforms like Reddit, TikTok, and X (formerly ...

More than 11k businesses call in administrators

MATTHEW WAI  |  FRIDAY, 26 JUL 2024
... administration for the first time last financial year. While the figure is higher than previous peaks in 2011-12 and 2012-13, ASIC clarified that there are more businesses in Australia today; there were 3.4 million businesses in FY24 compared to two ...