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Search ResultsShowing 71 - 80 of 100+ results for "Regulatory"
Give the people advisers: Retirement Income Review
ELIZABETH MCARTHUR  |  FRIDAY, 20 NOV 2020
... 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 ...
Responsible entity fined $2m
ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
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 ...
APRA reduces CBA capital requirement
ANNABELLE DICKSON  |  FRIDAY, 20 NOV 2020
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 ...
Why has ASIC still not got a chief executive?
KANIKA SOOD  |  THURSDAY, 19 NOV 2020
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 ...
Funds management in ASIC spotlight
ELIZA BAVIN  |  THURSDAY, 19 NOV 2020
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 ...
Shipton's tax bill under scrutiny
ELIZABETH MCARTHUR  |  WEDNESDAY, 18 NOV 2020
... 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 ...
ASIC charges BitConnect Australia lead
ELIZA BAVIN  |  WEDNESDAY, 18 NOV 2020
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 ...
Former adviser pleads guilty to stealing client funds
ELIZA BAVIN  |  WEDNESDAY, 18 NOV 2020
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 ...
Poor progress on human rights revealed
ELIZABETH MCARTHUR  |  TUESDAY, 17 NOV 2020
... 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 ...
ASIC sounds the alarm on buy-now-pay-later
KANIKA SOOD  |  MONDAY, 16 NOV 2020
... 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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