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Showing 751 - 760 of 4214 results for "Action"

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 ...

Allegro unveils PwC entity as Scyne Advisory

CASSANDRA BALDINI  |  TUESDAY, 4 JUL 2023
... Australia & New Zealand (CAANZ), and other relevant professional bodies. "It would also be appropriate for PwC to indicate what action they are undertaking to hold to account the PwC Australia leadership team, including former chief executive Luke Sayers ...

Technology top threat to company culture: Report

CASSANDRA BALDINI  |  MONDAY, 3 JUL 2023
New and emerging technology is the biggest threat to company culture within financial services firms, more than 60% of senior leaders say. According to a report by Allen & Overy (A&O Consulting), Organisational culture in financial services, 62% of ...

AUSTRAC drops action after Bell FG audit

CASSANDRA BALDINI  |  FRIDAY, 30 JUN 2023
The regulator confirmed it will not take further action against Bell Financial Group's three subsidiaries following an audit of its financial crime law compliance. Last February, AUSTRAC ordered an external auditor assess Bell Potter Securities ...

Adviser levy tripled, labelled "deeply unfair"

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... Have they simply gone into consolidated revenue? If that is in fact the case - that financial advisers are funding ASIC action against these participants, and yet the government is keeping all the proceeds - then this breaches really fundamental principles ...

Trustees must do better on account consolidation: ASIC

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... with the law. We are concerned about some of the failures uncovered in our review and are considering other regulatory action for more serious concerns," she said. "We expect all trustees to closely review their policies and procedures against the issues ...

FSCP hands down second order, audits adviser

KARREN VERGARA  |  WEDNESDAY, 28 JUN 2023
The Financial Services and Credit Panel has ordered an audit of a financial adviser who carelessly recommended a client switch superannuation funds. Releasing its second determination since it launched, the FSCP said the unnamed adviser, only referred ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... will pay. The industry has also raised concerns about the unfairness of smaller entities funding ASIC's enforcement action taken by against larger entities. Jones recommends that ASIC is delegated fee-setting powers to ensure fee amounts continue ...