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Showing 61 - 70 of 502 results for "CIV"

Insurers are 'fishing' for non-disclosures: ASIC

ANDREW MCKEAN  |  FRIDAY, 2 SEP 2022
An ASIC review of individual disability income insurance claims has determined that more work is needed by insurers to ensure customers are protected from unfair practices. ASIC has longstanding concerns about the potential consumer harm resulting from ...

ASIC issues warning over brokers' high-risk offers

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
ASIC has told brokers to be careful about or to reconsider offering high-risk products and services to retail investors as an increasing number offer securities trading. ASIC said it has seen increased instances of brokers offering securities trading ...

Unlicensed forex trader extradited from Poland

CHLOE WALKER  |  FRIDAY, 19 AUG 2022
Unlicensed foreign exchange trader Daniel Farook Ali has faced the Brisbane Magistrates Court charged with eight counts of fraud, after being extradited from Poland and arrested following an ASIC investigation. The corporate regulator alleges that between ...

Contact AFCA now: ASIC urges Dixon Advisory clients

JAMIE WILLIAMSON  |  THURSDAY, 4 AUG 2022
Former clients of Dixon Advisory and Superannuation Services have been told to get in quick with their complaints to the Australian Financial Complaints Authority to ensure they're eligible for compensation. ASIC plans to write to former clients of ...

Consultation on faith-based products opens

JAMIE WILLIAMSON  |  THURSDAY, 21 JUL 2022
Treasury has commenced consultation on adjusting how the Your Future, Your Super performance test is applied to faith-based products, releasing draft legislation. Under the legislation, APRA would be allowed to consider the religious affiliation of ...

ASIC takes Lanterne Fund Services to court

ANDREW MCKEAN  |  THURSDAY, 7 JUL 2022
ASIC has issued civil penalty proceedings against wholesale licensee Lanterne Fund Services, saying it operated with almost no compliance staff or risk management processes. The regulator alleges that Lanterne has on multiple occasions failed to meet ...

SEC fines UBS Financial Services over fraud charges

JAMIE WILLIAMSON  |  THURSDAY, 30 JUN 2022
In the US, UBS Financial Services has agreed to pay US$25 million to settle fraud charges related to a complex options trading strategy it sold to investors without adequately educating their financial advisers on the product's risks. The Yield Enhancement ...

MSC Group launches Singaporean fund service

CASSANDRA BALDINI  |  FRIDAY, 17 JUN 2022
... the monetary authority of Singapore at the end of May. In Singapore, MSC Group will initially service funds such as trusts, CIV and VCC structures from its newly CMS-licensed business, MSC Capital Partners. Optional fund administration, registry and ...

GDP rises but headwinds abound

ANDREW MCKEAN  |  THURSDAY, 2 JUN 2022
Beating consensus estimates, the Australian GDP rose 0.8% in Q1 and 3.3% year on year. While more positive than expected, the latest figures represented a slowdown from the 3.4% GDP growth realised last quarter. Barclays said the most recent GDP numbers ...

ANZ sued by ASIC

CASSANDRA BALDINI  |  MONDAY, 30 MAY 2022
ANZ has acknowledged the civil penalty proceedings launched against it in Federal Court by ASIC for allegedly misleading and overcharging thousands of customers. The corporate watchdog today alleged that between May 2016 and November 2016 around 165,750 ...