Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 901 - 910 of 5223 results for "2015-16 ASIC"

Licensees flout breach reporting regime: ASIC

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
ASIC warned it is taking tougher action on licensees as they fail to comply with the reportable situations regime two years on. Of the 16,836 reports ASIC received from financial services and credit licensees in the year to June 2023, 17% took over ...

'Critical shortcomings' demand urgent action from trustees: APRA

ANDREW MCKEAN  |  TUESDAY, 31 OCT 2023
APRA deputy chair Margaret Cole has sounded the alarm on gaps in superannuation trustees' plans to assist the "tidal wave of fund members" heading toward retirement. At the Australian Financial Review's Super and Wealth Summit today, Cole outlined ...

Financial services firms hit with criminal charges

CHLOE WALKER  |  TUESDAY, 31 OCT 2023
... Capital, formerly Dayton Way Securities, face multiple charges for failing to submit financial accounts to ASIC. Specifically, ASIC alleges that both APC Securities and Brava Capital neglected to file financial accounts and auditor's reports for ...

Caddick victims sue auditors in class action

KARREN VERGARA  |  MONDAY, 30 OCT 2023
... essentially running a Ponzi scheme. She disappeared on 12 November 2020, the day after ASIC raided her home. In March 2021, ASIC dropped the 38 criminal charges it was pursuing after the police confirmed that a shoe containing human remains washed up ...

Federal Court freezes assets of pension platform

CASSANDRA BALDINI  |  MONDAY, 30 OCT 2023
ASIC has obtained interim orders from the Federal Court to freeze the funds and assets of Brite Advisors (Brite), a specialist in moving private UK pension savings offshore. The global advisory, pension administration and asset management provider came ...

ASIC's pursuit of Mayfair 101 founder faces setback

JAMIE WILLIAMSON  |  THURSDAY, 26 OCT 2023
... overturned by the Full Federal Court last year, where the regulator was deemed to have brought a "mistaken" and "absurd", ASIC filed an amended originating process in March. However, Mawhinney argued the amended documents filed by ASIC included additional ...

Piper Alderman investigates second CFD class action

CHLOE WALKER  |  WEDNESDAY, 25 OCT 2023
... other countries, with the Federal Court of Australia describing these products as "financial heroin hits". In March 2021, ASIC imposed strict new conditions on CFDs after reviews by the regulator found that 72% of retail clients who traded CFDs lost ...

Life insurance complaints drop 24%

KARREN VERGARA  |  WEDNESDAY, 25 OCT 2023
The number of life insurance complaints may have declined 24% in the 2023 financial year, but policyholders continue to complain about claims-handling delays and insurers peddling misleading information. According to the Australian Financial Complaints ...

ASIC loses case against Diversa

JAMIE WILLIAMSON  |  TUESDAY, 24 OCT 2023
... 2021 which alleged the trustee knew about a now banned adviser's dodgy behaviour but failed to act. In October 2021, ASIC commenced civil penalty proceedings against Diversa, alleging it had breached the law by allowed Australian Super Find, the ...

Super fund, insurer admin issues draw AFCA complaints

KARREN VERGARA  |  MONDAY, 23 OCT 2023
Life insurers and superannuation funds continue to pin systemic issues on administrative and legacy systems that have drawn customer complaints and, in some cases, led to large compensation payouts, according to the Australian Financial Complaints Authority ...