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Showing 71 - 80 of 602 results for section

ACCC gives IOOF go ahead

ANNABELLE DICKSON  |  TUESDAY, 15 DEC 2020
... competition from AMP and smaller firms. "Despite the profile and size of this transaction, it does not raise concerns under section 50 of the Competition and Consumer Act largely due to the fragmented nature of most of the relevant markets and strong ...

Damning Rio report to shake mining industry

ELIZABETH MCARTHUR  |  THURSDAY, 10 DEC 2020
... clauses or restrictions on traditional owners rights under heritage and other laws, commit to pausing all actions under section 18 permissions until they are reviewed to ensure informed consent has been obtained from traditional owners and commit to ...

Key advice reforms tabled

KARREN VERGARA  |  THURSDAY, 10 DEC 2020
... disclose any lack of independence in writing, as foreshadowed by recommendation 2.2. The new law cites Corporations Act section 923A(2) of what an "impartial" or "independent" adviser is: does not receive a commission, remuneration based on the volume ...

Exemptions to AFSLs explained by ASIC

ELIZA BAVIN  |  THURSDAY, 26 NOV 2020
... trustee may rely on exemptions from the requirement to hold an AFSL. For example, an exemption can be claimed through section 911A(2)(a) and section 911A(2)(b) of the Corporations Act. These are the authorised representative and intermediary authorisation ...

Rest climate case dismissed

ELIZABETH MCARTHUR  |  MONDAY, 2 NOV 2020
... dismissal notice. McVeigh's case against Rest's trustee alleged that he had a right to certain information pursuant to section 1017C of the Corporations Act.The information McVeigh was interested in related to the impacts climate change could ...

APRA reduces ERS reporting for funds

ELIZA BAVIN  |  WEDNESDAY, 21 OCT 2020
The prudential regulator has announced it will cut down on the amount of information it requires funds to provide as part of the Early Release of Super reporting standards. From September 30, APRA said it will only require sections 6-8 of SRF 91.1 ...

TPB bans tax agent over COVID-19 fraud

ALLY SELBY  |  FRIDAY, 9 OCT 2020
The Tax Practitioners Board (TPB) has terminated the company registration of Sydney-based tax agent after she attempted to exploit a COVID-19 stimulus measure for over $20,000. The TPB determined TLL Tax Pty Ltd and its director Liying Tong breached ...

ASIC, IOSCO report on debt capital raisings

ALLY SELBY  |  THURSDAY, 24 SEP 2020
The corporate watchdog has released a report into its findings on debt capital raisings following two years of surveillance of market practices. ASIC's 668 Report noted that while a properly functioning debt capital market (DCM) is vital for the real ...

ASIC provides relief to Victorian advisers

ALLY SELBY  |  TUESDAY, 22 SEP 2020
The corporate watchdog has shifted to a no-action position on fee disclosure statements and renewal notice obligations for financial advice businesses in Victoria. The no-action applies to AFS licensees and representatives where their business is solely ...

State Street cops $1.25m fine from AUSTRAC

KANIKA SOOD  |  WEDNESDAY, 16 SEP 2020
... international transfers to the agency under Anti-Money Laundering and Counter-Terrorism Financing laws. Under the law (section 45 (2) of the AML/CTF Act 2006), any person who sends or receives an instruction to transfer funds in or out of Australia must ...