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Showing 801 - 810 of 2779 results for "OCC"

Government opens consultation on key advice reforms

JAMIE WILLIAMSON  |  MONDAY, 19 APR 2021
The federal government has released draft legislation outlining the function of ASIC's Financial Services and Credit Panel as the single disciplinary body for financial advisers. The government is proposing the ASIC FSCP exercise the functions of ...

Bernie Madoff dies in prison

ELIZABETH MCARTHUR  |  THURSDAY, 15 APR 2021
The architect of the largest Ponzi scheme in US history has died in prison aged 82. Bernie Madoff had been serving his sentence at FMC Butner, an administrative security federal medical centre for male offenders located in North Carolina, at the time ...

Climate change worse than pandemic: UK regulator

JAMIE WILLIAMSON  |  THURSDAY, 8 APR 2021
The chief executive of the UK's Pensions Regulator believes climate change will be more catastrophic to populations' way of life than the COVID-19 pandemic if no action is taken. The comments came as The Pensions Regulator chief executive Charles ...

Mercer calls for delay to super reforms

JAMIE WILLIAMSON  |  THURSDAY, 8 APR 2021
Appearing before the Senate Economics Legislation Committee this morning, Mercer implored the government to consider a delay to the implementation of the super fund stapling mechanism slated to come into effect from July 1. In opening, Mercer senior ...

CBA to pay $7m for overcharged interest

ANNABELLE DICKSON  |  THURSDAY, 8 APR 2021
The Federal Court has imposed a $7 million penalty on Commonwealth Bank for charging higher interest rates on business overdraft accounts than what it advised its customers over a four-year period. Following an investigation by ASIC, CBA admitted to ...

Chief economist update: RBA promises support over the next three years

BENJAMIN ONG  |  WEDNESDAY, 7 APR 2021
"Come on, Barbie, let's go party"... until 2024. In Reserve Bank of Australia (RBA) parlance: "The board is committed to maintaining highly supportive monetary conditions until its goals are achieved. The board will not increase the cash rate until ...

ASIC cracks down on binary options

ELIZABETH MCARTHUR  |  THURSDAY, 1 APR 2021
ASIC has banned the sale of binary options to retail clients, effective from 3 May 2021. The decision comes after ASIC found that binary options have resulted in significant losses for retail clients. In 2018, ASIC estimated that net losses from retail ...

ASIC sues CBA over monthly fees

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
The corporate regulator has commenced civil proceedings against Commonwealth Bank over allegations it wrongly charged monthly fees to customers over a nine-year period. ASIC alleges CBA incorrectly charged $55 million in monthly access fees to nearly ...

Risk inflows stagnant, satisfaction varies

ANNABELLE DICKSON  |  WEDNESDAY, 31 MAR 2021
Risk premium inflows experienced marginal decreases in the 12 months to December 2020 as the gap in consumer satisfaction grows, new research shows. The latest data from Plan For Life showed total inflows increased 0.5% to $16.3 billion with just a ...

Insider trading four times more common

ELIZABETH MCARTHUR  |  TUESDAY, 23 MAR 2021
New research estimates that the actual prevalence of illegal insider trading is much higher than regulators think, at least four times greater than the number of prosecutions. The research was conducted by Vinay Patel and Talis Putnins from the University ...