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Showing 791 - 800 of 5615 results for "ASIC"

Retirement Income Covenant still weak: APRA, ASIC

KARREN VERGARA  |  TUESDAY, 2 JUL 2024
... regulation uncertainty, costs, and the lack of member engagement as major barriers. This is according to joint oversight by ASIC and APRA, which surveyed 48 trustees who conceded that they have only made "incremental progress" to track their retirement ...

ASIC calls out sloppy adviser data

KARREN VERGARA  |  MONDAY, 1 JUL 2024
ASIC is reprimanding AFS licensees (AFSL) for submitting inaccurate information about their financial advisers and will ramp up its enforcement from August. AFSLs are making numerous errors when it comes to providing data on the Financial Advisers Register ...

New recruits top advice industry priority: FAAA

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
... Last Resort (CSLR) will soon charge the advice sector $18.5 million to cover the period July 1 to 30 June 2025. The upcoming ASIC funding levy, which is divvied up among the number of advisers registered as at 30 June 2024, is scheduled to land in August. ...

ASIC takes action against Guildfords FM, director

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
ASIC has cancelled the licence of Guildfords Funds Management and banned its managing director Robert Payne for their involvement in the collapse of Magnolia Capital Group. ASIC found "significant and systemic failures of oversight and compliance" upon ...

ASIC freezes assets of Melbourne based licensee

ELIZA BAVIN  |  THURSDAY, 27 JUN 2024
The Australian Securities and Investments Commission (ASIC) has obtained interim orders from the Federal Court freezing the assets of financial advice licensee United Global Capital and related property investment company Global Capital Property Fund ...

ASIC alerts licensees to experienced pathway deadlines

ANDREW MCKEAN  |  WEDNESDAY, 26 JUN 2024
ASIC has issued a reminder to the Australian Financial Services (AFS) licensees regarding the upcoming notification obligations related to the new experienced provider pathway. Starting from next week, AFS licensees must notify ASIC by lodging a notice ...

Former AMP advice lead sues The Australian

ELIZA BAVIN  |  MONDAY, 24 JUN 2024
... claiming an article published by the news outlet inferred he misled the Australian Investments and Securities Commission (ASIC). Regan claimed the article, which was published back in January this year, falsely implied he had misled the corporate watchdog ...

Super account advice fees a sticking point for advice bill: Senate inquiry

KARREN VERGARA  |  FRIDAY, 21 JUN 2024
... an excessive obligation on trustees to ensure that advice and fee arrangements are compliant with the sole purpose test. ASIC said in its submission that amid potential changes to s99FA, "it is not our view that the provision would require trustees to ...

Ascot Securities hit with infringement notice for 'serious failures'

ANDREW MCKEAN  |  THURSDAY, 20 JUN 2024
... ceased operating as a market participant. It has also surrendered its Australian Financial Services (AFS) licence and notified ASIC of its decision to be wound up. The MDP had reasonable grounds to believe that Ascot had breached s798H(1) of the Corporations ...

Court freezes assets of Keystone AM managed fund

ELIZA BAVIN  |  THURSDAY, 20 JUN 2024
The Australian Securities and Investments Commission (ASIC) has obtained interim orders from the Federal Court to freeze the assets of the Shield Master Fund (Shield), a registered managed fund overseen by Keystone Asset Management. ASIC said it sought ...