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Showing 71 - 80 of 718 results for "Misconduct"

ASIC warns of 'sharp rise' in financial misconduct

MATTHEW WAI | THURSDAY, 21 AUG 2025

New data shows a significant rise in the number of misconduct reports made to ASIC, with more than half of the complaints impacting retail investors. ASIC's half-year reports of misconduct data shows that there were 7561 reports of misconduct from 1 ...

Superannuation fraudster sentenced to prison

ELIZA BAVIN | MONDAY, 11 AUG 2025

... monies were repaid to the investors. "The sentence imposed by the Court demonstrates the seriousness of Mr Steele's misconduct," ASIC deputy chair Sarah Court said. "When individuals misappropriate funds for personal gain, they not only harm their investors ...

Treasury launches consultation on CSLR breaching sub-sector levy caps

KARREN VERGARA | FRIDAY, 1 AUG 2025

... announced Labor would undertake a post-implementation, comprehensive review of the CSLR to ensure victims of financial misconduct have a sustainable avenue for redress. The first round of consultation took place between January 31 and February 28. That ...

FAAA fights to reignite Dixon inquiry

MATTHEW WAI | THURSDAY, 24 JUL 2025

... who are primarily affected by malpractice, it is completed at the expense of advisers who were not involved in the misconduct. "At the moment, the scheme's designed on the basis of there being a $20 million sector cap, and that's worked out for ...

Funeral insurer fined $4.75m

MATTHEW WAI | FRIDAY, 11 JUL 2025

... ordered against ACBF to $4.7 million. Additionally, Youpla was the subject of a case study in the Royal Commission into misconduct in the banking, superannuation and financial services industry. ASIC chair Joe Longo said the penalty is a "strong deterrent" ...

Licensee compliance head banned over fees for no service

MATTHEW WAI | WEDNESDAY, 9 JUL 2025

... defunct advice licensee has been banned for three years over the way he dealt with an adviser's fees for no service misconduct. Former Crown Wealth Group director and head of compliance Andrew Moore has been banned for three years for failing to recognise ...

Adviser receives permanent ban over 'dishonest' conduct

MATTHEW WAI | TUESDAY, 8 JUL 2025

... following several years of misusing client funds and falsifying documents. King was found to have engaged in serious misconduct, including concealing information from clients, making false representations to ASIC, falsifying documents to clients, managing ...

ASIC targets advisers, platforms, research houses in super switching scams

KARREN VERGARA | THURSDAY, 3 JUL 2025

... generator to the financial adviser and super fund to platforms such as Macquarie and Equity Trustees - there is evidence of misconduct and the pocketing of commissions and incentive payments. "So, we are investigating every step in the web, including ...

ASIC releases new relief for reportable situations regime

KARREN VERGARA | MONDAY, 30 JUN 2025

... submissions from individual consumers who were opposed to the relief on the basis that some licensees still engage in misconduct. In response to feedback, ASIC broadened the types of reports that are exempt by increasing the time allowed for rectification ...

Brite Advisors auditor admits failures, surrenders registration

ANDREW MCKEAN | FRIDAY, 27 JUN 2025

... maintaining the integrity of our capital markets and enabling investors to make informed decisions," she said. "Auditor misconduct is an enforcement priority for ASIC, and we will continue to investigate where we identify potential misconduct or non-compliance." ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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