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Showing 71 - 80 of 2629 results for %22ASIC Act%22

ANZ fined $900k over shares disclosure failure

CHLOE WALKER  |  MONDAY, 11 DEC 2023
... placing downward pressure on ANZ's share price. He added that the fine was needed to "deter similar actions." Meanwhile, ASIC deputy chair Karen Chester said the fine confirms the paramount importance of continuous disclosure. "The penalty and remarks ...

FSCP serves up registration prohibition order

KARREN VERGARA  |  MONDAY, 11 DEC 2023
... bankruptcy. As a result, his registration as a financial adviser has been cancelled and is prohibited from being registered with ASIC. He is also banned from giving personal advice to retail clients on relevant financial products during the prohibition ...

'Significant deficiencies' lead APRA to act against NGS Super

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... (across all sectors) believed their organisation had sufficient resources to monitor and respond to its cybersecurity needs. ASIC chair Joe Longo has also made clear that boards will be held to account when things go wrong on the cyber front. "ASIC expects ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... Financial Counselling Australia, and the Ecstra Foundation. In her executive career, she held senior roles with the ACCC and ASIC. It is a requirement that someone from the AFCA board also sit on the board of the CSLR. Rickard will take up the role in ...

Adviser with Investport links sees ban affirmed

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
... non-compliant, lacking additional disclosures around costs and benefits lost because of switching between products. The AAT "accepted ASIC's submissions that Ms Anderson was under independent and distinct obligations than those owed by her licensee to ...

Nomura offshoot fined by ASIC disciplinary panel

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
ASIC's Markets Disciplinary Panel (MDP) has fined a Nomura subsidiary almost $700,000 for failing to comply with market integrity rules. Instinet Australia, the local arm of the global, Nomura-owned stockbroker, was issued the infringement notice after ...

ASIC curbs high-risk offers from online trading providers

ANDREW MCKEAN  |  WEDNESDAY, 6 DEC 2023
ASIC has identified a trend among some online trading providers, presenting high-risk investment opportunities to retail investors, a shift emerging amid the fluctuating market conditions and the decline in retail trading activity post-pandemic. In ...

Advice firms must scale up to meet demand: AZ NGA

CASSANDRA BALDINI  |  WEDNESDAY, 6 DEC 2023
... reaching the 12.4 million Australians in need of professional advice but are still awaiting assistance. The paper drew on ASIC data that shows 41% of Australians intend to get personal financial advice in the future, but only around 12% currently do. ...

'Should have known better': AAT tells auditor

JAMIE WILLIAMSON  |  FRIDAY, 1 DEC 2023
... in cross-examination that her misunderstanding was compounded by the failure of her professional association (and perhaps ASIC) to bring the detail and meaning of the independence requirements to her attention"; an argument the AAT described as "untenable". ...

Morningstar cops greenwashing fine

KARREN VERGARA  |  FRIDAY, 1 DEC 2023
ASIC slapped Morningstar with a fine for allegedly exposing investors to controversial weapons companies after proclaiming that its environmental, social, and governance (ESG) policy strictly excludes such investments. Morningstar's International Shares ...