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Showing 921 - 930 of 6073 results for "Commission"

Advisers win annual renew law relief

KARREN VERGARA  |  FRIDAY, 11 JUN 2021
... advice that reduces costly red tape on industry and maximises outcomes for consumers. The financial services Royal Commission recommended the annual renewal obligations in a bid to stamp out the fee-for-no-service problem that plagued the advice industry. ...

Aussies lose $328m to investment scams

KARREN VERGARA  |  MONDAY, 7 JUN 2021
Fake investment opportunities fleeced Australians $328 million and accounted for the largest scams in 2020. This is according to the Australian Competition & Consumer Commission's (ACCC) latest report Targeting Scams, which unveiled a recording-breaking ...

LIBOR phased out by year end

ELIZABETH MCARTHUR  |  FRIDAY, 4 JUN 2021
Australian regulators expect institutions to cease the use of LIBOR in new contracts before the end of 2021. ASIC, APRA and the Reserve Bank of Australia have reiterated the importance of ensuring a timely transition away from the London Interbank Offered ...

ASIC increases short selling surveillance

KARREN VERGARA  |  THURSDAY, 3 JUN 2021
ASIC is putting short sellers on notice, warning them that any information released on a target company must be accurate and objective. The corporate watchdog outlined several areas that it will keep an eye on in the newly released Information Sheet ...

Forex CT cops $20 million fine

ANNABELLE DICKSON  |  WEDNESDAY, 2 JUN 2021
The Federal Court has handed down a $20 million penalty to Forex Capital Trading for engaging in a system of unconscionable conduct, including the use of high-pressure sales tactics, conflicted remuneration and failing to act in the best interests of ...

Research on education standards and morals launches

KARREN VERGARA  |  WEDNESDAY, 2 JUN 2021
... determine the impact that these changes may have had on the moral reasoning of advisers. The financial services Royal Commission mandated the professionalisation of advisers, forcing them to undertake further study and abide by a national code of ethics. ...

ATO cracks down on crypto

ANNABELLE DICKSON  |  MONDAY, 31 MAY 2021
The Australian Taxation Office is cracking down on cryptocurrency investors to report capital gains and losses in their tax returns after fears investors may think they are tax-free. The ATO estimates that 600,000 taxpayers have invested in crypto assets ...

AMP sued for charging dead clients

JAMIE WILLIAMSON  |  THURSDAY, 27 MAY 2021
... deducted in advice fees, with $75,000 received during the period. The misconduct was first revealed by the Hayne Royal Commission in 2018, where it was made public that staff were aware deceased client accounts were being charged. According to ASIC's ...

Research reveals factors influencing advice

JAMIE WILLIAMSON  |  WEDNESDAY, 26 MAY 2021
A study which saw financial advisers providing advice for hypothetical clients found glaring inconsistencies in risk assessments, with suggestions an adviser's own circumstances can influence the advice provided. The data from Oxford Risk shows, when ...

Former adviser jailed for six years

KARREN VERGARA  |  WEDNESDAY, 26 MAY 2021
A former financial adviser will spend six years in prison for stealing nearly $3 million of clients' superannuation money. The District Court of New South Wales found Ross Andrew Hopkins, from Killara, guilty of 15 offences. Hopkins was the sole ...