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Showing 841 - 850 of 5611 results for "ASIC"

ASIC slams funds' serious deficiencies over advice fee charges

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
A review by ASIC has found evidence of poor oversight of advice fee deductions by superannuation trustees, with some allowing charges of up to $20,000 before raising concerns and some not conducting any checks of advice documents at all. ASIC is calling ...

APRA 'continuing to monitor' UniSuper outage

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
... the outcome - which is the inability of customers to lodge claims or access other services." Meanwhile, corporate regulator ASIC said that the matter "predominantly concerns APRA," but offered a general comment on member services failures. "Member services ...

J.P. Morgan hit with $775k penalty

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
... the Markets Disciplinary Panel (MDP) following an investigation by the Australian Securities and Investments Commission (ASIC). The MDP found JPMSAL permitted suspicious client orders to be placed on the futures market, ASX 24. The MDP said it should ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds. An overwhelming number of members are goaded into leaving ...

ASIC prevails in landmark case against BPS Financial

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
ASIC has won a case against BPS Financial, following a Federal Court ruling that found the latter guilty of offering 'Qoin Wallet,' a non-cash payment facility that used the 'Qoin' cryptocurrency token, without an Australian Financial Services Licence ...

ASIC issues warning over scammers using fake AFSLs

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
ASIC has issued a fresh warning over the increase in the sophistication of fake bond and term deposit scams. ASIC said scammers are impersonating little-known legitimate financial services businesses, often those without a website or digital footprint. ...

Almost one third fail adviser exam

KARREN VERGARA  |  TUESDAY, 30 APR 2024
... those who want to practice as a financial adviser. The majority (77%) sat the exam in March for the first time, according to ASIC, with 21,102 candidates sitting the exam to date. Those who keep failing the exam can resit it as many times until they ...

ASIC hits back at parliament: 'Simply not realistic'

ELIZA BAVIN  |  TUESDAY, 30 APR 2024
Australian Securities and Investments Commission (ASIC) chair Joe Longo had some choice words when addressing the Parliamentary Joint Committee on Corporations and Financial Services today. When questioned over its capacity to respond to people who ...

Adviser fakes exam certificate, cops ASIC ban

KARREN VERGARA  |  FRIDAY, 26 APR 2024
ASIC has slapped a permanent ban on a financial adviser who doctored her exam certificate and continued to provide advice without the proper qualifications. Adele Baaini, while working as a representative for licensee AAN Wealth Management, has been ...

Auditors lambast mandatory climate reporting requirements

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... hardship as a result of these planned new reporting requirements." Meantime, Australian Securities and Investments Commission (ASIC) chair Joe Longo said growing interest in environmental, social, and governance issues had driven the need for more thorough ...