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|... are also restricted in what they can consider when providing intra-fund advice. Changes would need to be made to the regulatory framework to facilitate funds providing more guidance at retirement," the review said. "Automated or digital advice could ...|
|A court has found Theta Asset Management and its managing director contravened the Corporations Act on multiple occasions in authorising the issues of five defective Product Disclosure Statements (PDSs). The court has ordered Theta to pay a penalty ...|
|The Australian Prudential Regulation Authority (APRA) has made the decision to reduce Commonwealth Bank's additional capital requirement by half after improving governance concerns. The $1 billion capital add-on has been halved to $500 million with ...|
|ASIC senior staff including James Shipton resisted moving to a stronger internal governance structure, its acting chair Karen Chester has told the ASIC expenses enquiry. Liberal senator James Patterson, who is chairing the enquiry into ASIC expenses ...|
|The review of competition in the Australian funds management industry is officially underway between the corporate regulator and Deloitte Access Economics. ASIC acting chair Karen Chester said the review seeks to identify where "competition is effective ...|
|... Samuel revealed, he has witnessed several instances that prove that there are deep cultural issues within government regulatory bodies. For example, Samuel said he saw the chair of a regulator (which he did not name) at the Australian Open as a guest ...|
|The former BitConnect Australian national promoter has been charged by ASIC for operating an unregistered investment scheme and making false statements. John Bigatton promoted the online cryptocurrency platform prior to its collapse in early 2018. It ...|
|A former financial adviser has pleaded guilty to misappropriating $2.9 million of client funds by transferring the money to his own accounts for personal use. Ross Hopkins from NSW, appeared at the Downing Centre Local Court, where he pleaded guilty ...|
|... effects. Clearly, businesses alone won't raise the bar and with COVID-19's compounding impact, there is a real need for regulatory action, as planned by the European Union, as well as increased investor pressure to force change." Among the group of investors ...|
|... method. While working for the majority of users, some consumers are suffering harm," ASIC said in a statement. "There are regulatory changes coming that will impact the industry, with the design and distribution obligations coming into effect in October ...|
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BlackRock will push companies to disclose plans for their transition to a net-zero carbon economy, chief executive Larry Fink stated in his annual letter to company leaders
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The $171 billion sovereign wealth fund increased its cash position to 19.8% or about $34 billion, as it reports a positive year for returns ending December.
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IFM Investors has made a EUR 5 billion offer for a 22% stake in Spanish energy company Naturgy Energy Group.
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Corporate watchdog ASIC was hit with a cybersecurity breach on January 15 that has potentially exposed personal information.
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