Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 71 - 80 of 460 results for "Conflicts of interest"

Westpac loses Ausgrid rate swap case

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... price. Further, the Court said Westpac failed to ensure it had adequate arrangements in place to manage conflicts of interest between itself and the consortium, adding that it did not do all things necessary to ensure the transaction was provided to ...

ASIC takes action on EverBlu, director

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... investment bank EverBlu Capital, for alleged market rigging and failing in his duties as a director to manage conflicts of interest. The case will also look at Blumenthal's duties as a director of ASX-listed Creso Pharma (now Melodiol Global Health). ...

Federal Court approves BT Super $30m settlement

KARREN VERGARA  |  TUESDAY, 12 DEC 2023
... subsidiaries BT Funds Management (BTFM) and Westpac Life Insurance Services (WLIS) allegedly failed to manage conflicts of interest when investing BT Super member money in a cash option. Last week, Justice Murphy determined that the amount was "fair ...

Final QAR reforms open door to super funds

CASSANDRA BALDINI  |  THURSDAY, 7 DEC 2023
... hasn't pursued this recommendation is a win for consumers. "The best interests duty is vital in light of conflicts of interest which have riddled the financial advice sector. Australians deserve independent and high-quality advice," SCA acting director ...

SEC sues Kraken exchange again

CASSANDRA BALDINI  |  WEDNESDAY, 22 NOV 2023
... significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others, the SEC said. Through its platform's services, the SEC said Kraken allegedly provides a marketplace ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
... and were not in clients' best interest. Further, Shine alleged that the plaintiffs failed to address conflicts of interest in such practices. "The settlement is without admission of liability and is subject to the approval of the Federal Court of ...

Crypto exchanges to obey financial services rulebook

ANDREW MCKEAN  |  MONDAY, 16 OCT 2023
... will be obligated to operate "efficiently, honestly, and fairly." Further, they'll be required to manage conflicts of interest and establish a compensation mechanism for retail clients who incur loss or damage due to breaches of AFSL obligations. In ...

Veteran adviser cops permanent ban

KARREN VERGARA  |  TUESDAY, 15 AUG 2023
... efficiently, honestly and fairly". He also did not ensure that there were adequate arrangements in place to manage conflicts of interest. Further, total liabilities of PWMS exceeded total assets as per the licensee's most recent balance sheet lodged ...

ASX appoints former ASIC chair to lead advisory group

CASSANDRA BALDINI  |  THURSDAY, 3 AUG 2023
... assessing ASX's stakeholder engagement and governance practices, including their management of intragroup conflicts of interest. ASIC chair Joe Longo welcomed the appointment and the establishment of the new group. "There was a consensus that ASX ...

Review forces ASX to fix intra-group conflicts

KARREN VERGARA  |  MONDAY, 31 JUL 2023
... fallout of the bungled CHESS replacement saga will force the ASX to implement 13 recommendations to manage conflicts of interest among its subsidiaries. The review, conducted by Herbert Smith Freehills (HSF), found prevalence of conflicting commercial ...