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Showing 71 - 80 of 4766 results for "ASIC"

Westpac loses Ausgrid rate swap case

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... associated with the consortium's acquisition of a majority stake in Ausgrid, purchased from the NSW government. In May 2021, ASIC commenced civil proceedings against Westpac for insider trading, unconscionable conduct, and breaches of its obligations ...

AI is not the 'Wild West': Longo

CHLOE WALKER  |  THURSDAY, 1 FEB 2024
... intelligence (AI), existing obligations around good governance and the provision of financial services remain robust, according to ASIC chair Joe Longo. Addressing the crowd yesterday at the UTS Human Technology Institute 'Shaping Our Future' Symposium ...

ASIC files contempt orders against repeat offender

CHLOE WALKER  |  MONDAY, 29 JAN 2024
ASIC has filed a contempt application in the Federal Court against former Wealth & Risk Management (WRM) director Joshua David Fuoco. In February 2018, the Melbourne-based wealth manager was ordered by the Federal Court not to carry on or be involved ...

ASIC makes adviser exam changes

JAMIE WILLIAMSON  |  THURSDAY, 25 JAN 2024
ASIC confirmed it is amending the financial adviser exam in accordance with the government's changes. Amendments to the exam were registered last week, following a consultation that wrapped up on January 10. ASIC has now also updated the relevant guidance. ...

Australian Ethical super chief goes for growth in 2024

ANDREW MCKEAN  |  TUESDAY, 23 JAN 2024
Australian Ethical is transitioning its administration to Grow Inc in 2024, while also aspiring to accelerate growth in response to an increasing preference for ethical investments, says chief executive of superannuation Ross Piper. In an interview ...

ME Bank fined $820k for misleading borrowers

CHLOE WALKER  |  MONDAY, 22 JAN 2024
... customers. The matter, prosecuted by the Commonwealth Director of Public Prosecutions, followed an investigation and referral by ASIC. The regulator found the bank sent 589 letters to home loan customers between 25 May 2018 and 3 September 2018, informing ...

Penta Capital fined for fabricated FUM

KARREN VERGARA  |  MONDAY, 22 JAN 2024
ASIC has fined a firm for making several false statements that included claims it managed nearly $7 billion in assets when it does not. Queensland-based Penta Capital boasted on its website between May 2022 and February 2023 that it managed $6.9 billion ...

AMP names new group insurer

KARREN VERGARA  |  MONDAY, 22 JAN 2024
... industry. Some two years later, Resolution Life bought the life insurance unit for $3 billion. According to data from APRA and ASIC, TAL is the largest player in the group insurance sector in Australia. TAL has a 40.4% market share that insures 3.9 million ...

Adviser registration deadline moves to February 16

KARREN VERGARA  |  FRIDAY, 19 JAN 2024
ASIC has again pushed back the financial adviser registration deadline in fear that many relevant providers will not make the February 1 cut off. The 4036 advisers who as of January 18 have outstanding registrations, according to ASIC, now have until ...

Advisers urged to check ASIC registration status

JAMIE WILLIAMSON  |  THURSDAY, 18 JAN 2024
... Financial Advice Association Australia (FAAA) says there's close to 6000 financial advisers who are still not registered with ASIC. Under the Financial Sector Reform (Hayne Royal Commission Response - Better Advice) Act 2021, all relevant providers must ...