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Showing 71 - 80 of 256 results for "Financial Services Law"

ALRC should prioritise advice regulations: FPA

CASSANDRA BALDINI  |  THURSDAY, 8 DEC 2022
... the Australian Law Reform Commission (ALRC) should prioritise advice regulations in its ongoing review of financial services law. In its latest submission to the ALRC review of the Legislative Framework for Corporations, the FPA has suggested financial ...

ASIC sues crypto fintech over unlicensed advice

JAMIE WILLIAMSON  |  THURSDAY, 24 NOV 2022
... important protections. Simply because a product hinges on a crypto-asset, does not mean it falls outside financial services law," ASIC deputy chair Sarah Court said. "ASIC is aware that many consumers are interested in purchasing or investing in crypto-assets. ...

Another ban for Sirius Financial

CHLOE WALKER  |  THURSDAY, 3 NOV 2022
ASIC has banned former responsible manager of over-the-counter derivatives provider Sirius Financial, Mark Bringans, for eight years. Bringan's banning follows an ASIC investigation into the firm, which agreed to wind down its retail and wholesale operations ...

ASIC sues BPS Financial over crypto claims

CASSANDRA BALDINI  |  TUESDAY, 25 OCT 2022
ASIC has commenced civil penalty proceedings in the Federal Court against BPS Financial (BPS). The regulator alleged BPS made false, misleading, or deceptive representations and engaged in unlicensed conduct in relation to a non-cash payment facility ...

Throw out financial services law clutter: ALRC

ANDREW MCKEAN  |  WEDNESDAY, 5 OCT 2022
The Australian Law Reform Commission's (ALRC) second interim report to reduce complexity in financial services legislation proposes an alternative model that's more coherent and principled, and "embraces minimalism." The ALRC's proposed legislative ...

AMP cops $14.5m penalty over fees for no service

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
Five AMP companies will pay $14.5 million for charging close to 1500 superannuation members fees for no service over the course of about three years. The Federal Court handed the fine to AMP Superannuation, AMP Financial Planning, Charter Financial ...

ASIC issues warning over brokers' high-risk offers

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
ASIC has told brokers to be careful about or to reconsider offering high-risk products and services to retail investors as an increasing number offer securities trading. ASIC said it has seen increased instances of brokers offering securities trading ...

ASIC research guides retail investment regulations

ANDREW MCKEAN  |  THURSDAY, 11 AUG 2022
... products and the licensees who use them, threatening substantial penalties of their content contravenes financial services law. Cognisant of more than half of new investors being aged between 18 and 34 years old, Longo said: "It's encouraging to ...

Advisers receive guidance on rights under FSCP

JAMIE WILLIAMSON  |  THURSDAY, 4 AUG 2022
... panel include matters of insolvency, fraud, failure to approve a Statement of Advice, contraventions of financial services law, and refusal or failure to give effect to an Australian Financial Complaints Authority determination at least twice. However ...

Adviser banned over early release scheme

JAMIE WILLIAMSON  |  WEDNESDAY, 3 AUG 2022
... was not adequately trained or competent, was not a fit and proper person and was likely to contravene a financial services law in the future," ASIC said. In addition, the AFSL of his business Simeone Pty Ltd was also cancelled. He had held the licence ...