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Showing 891 - 900 of 5223 results for "2015-16 ASIC"

ASIC charges HESTA for misleading marketing

ANDREW MCKEAN  |  FRIDAY, 10 NOV 2023
... investment option, which boasted a 10-year performance track record without proper disclosure of the specific period in question. ASIC contends that HESTA's marketing could have led consumers to assume the performance figures were current, whereas ...

Adviser levy discount amounts to $8m saving

KARREN VERGARA  |  FRIDAY, 10 NOV 2023
... reduced by nearly $8 million to $47.6 million." In ASIC (Supervisory Cost Recovery Levy-Regulatory Costs) Instrument 2023/777, ASIC budgeted for licensees that provide personal advice on relevant financial products to retail clients to pay $47,593,147 ...

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON  |  THURSDAY, 9 NOV 2023
... clients affected by legal breaches by eight retail OTC derivative issuers, $13 million of which was paid by Binance alone. ASIC said the payments have been made to more than 2000 retail investors since March 2021. In addition to Binance, Capital Com ...

Fears grow around greenwashing litigation protections

ROSE MARY PETRASS  |  WEDNESDAY, 8 NOV 2023
Treasury's proposed three-year moratorium on private litigation related to Scope 3 reporting as part of its proposed mandatory climate-related financial disclosure package has raised fears that it would give companies the green light to greenwash. ...

Potential reporting relief for trustees: ASIC

CHLOE WALKER  |  TUESDAY, 7 NOV 2023
ASIC is proposing to extend the temporary relief for superannuation trustees' disclosure and reporting consistency obligations for two years. ASIC is seeking feedback on the potential extension, including whether the current arrangement is operating ...

ASIC updates qualified tax relevant provider definition

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... entrants into the financial advice industry and tax agents providing a tax (financial) advice service to retail clients. ASIC said it wrote to affected individuals and their AFSLs in October regarding the one-off update. "There is no cost to notify ASIC ...

Sterling Income Trust executives charged

CHLOE WALKER  |  MONDAY, 6 NOV 2023
... product or service. The maximum penalty for this type of offence is 10 years' imprisonment and/or a fine of nearly $100,000, ASIC said. The Sterling Income Trust was established in 2012 as a funding vehicle for the Perth-based Sterling Group. From 2016 ...

Westpac reports $7.2bn profit

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... neglecting more than 200 customer hardship requests over a seven-year period. Westpac blames it on "technology failure". ASIC has commenced civil penalty proceedings in the Federal Court, alleging that it failed to respond to hardship notices within ...

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... is taking TelstraSuper to the Federal Court for allegedly failing to comply with internal dispute resolution requirements. ASIC alleges that 40% of the corporate superannuation fund's responses to complainants during a specific period did not comply ...

Link revises financial reports after ASIC review

ANDREW MCKEAN  |  FRIDAY, 3 NOV 2023
... financial report that was released in August, following an ASIC review that identified potential "material misstatements." ASIC pinpointed discrepancies in the recorded value of Link's Fund Solutions business assets and provisions tied to its settlement ...