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

Search Results

Showing 961 - 970 of 1680 results for "Breach"

Super funds embrace crowdsourced cybersecurity

JAMIE WILLIAMSON  |  FRIDAY, 2 MAR 2018
Two of Australia's biggest industry superannuation funds have backed a San Francisco-based crowdsourced cybersecurity startup, taking part in a $33 million capital raise. Hostplus and First State Super have invested in Bugcrowd, a security platform ...

SMSF trustees warned on non-compliant crypto

JAMIE WILLIAMSON  |  THURSDAY, 1 MAR 2018
Inexperienced self-managed superannuation fund trustees are being warned to do their homework before investing in cryptocurrency as they risk inadvertently breaching crucial compliance regulations. According to Bitcoin Trader partner Warrick Pleash ...

Conflicted SMSF auditor disqualified

JAMIE WILLIAMSON  |  WEDNESDAY, 28 FEB 2018
A self-managed superannuation fund auditor found to be in breach of basic independence rules was disqualified by ASIC. Robert Mark Taylor was disqualified for breaching auditor independence requirements outlined in APES 110 Code of Ethics for Professional ...

ASIC seeks Deloitte to liquidate SMSF business

ALEX BURKE  |  TUESDAY, 27 FEB 2018
ASIC applied to the Federal Court to appoint a Deloitte partner to liquidate a Perth-based self-managed super fund business. The regulator commenced proceedings against Superfunded - along with sole director Max Goldenberg and sole shareholder Mark ...

CBA denies majority of latest AUSTRAC allegations

KARREN VERGARA  |  FRIDAY, 23 FEB 2018
CBA said it denies most of the additional 100 anti-money laundering and counter-terrorism financing allegations handed down from AUSTRAC last December. In its submission to the Federal Court, CBA said it "denies 89 allegations in full and admits 11 ...

ATO closely monitoring SMSF balance caps

KARREN VERGARA  |  MONDAY, 19 FEB 2018
The ATO is closely monitoring self-managed super funds (SMSF) that breach the transfer balance cap and has already issued several alerts to members close to breaching the cap. ATO deputy commissioner for superannuation James O'Halloran told the 2018 ...

IFAs tackling bank-owned competitors head on

KARREN VERGARA  |  FRIDAY, 16 FEB 2018
... adviser was access to a wide range of investment options. This is in direct contrast to ASIC's finding that banks continue to breach the best interest duty and are more likely to recommend products manufactured by their parent companies, intentionally ...

Court fines advice firm $7.8m

KARREN VERGARA  |  FRIDAY, 9 FEB 2018
The Federal Court has banned financial advice firm Wealth and Risk Management (WRM) and its related companies from operating in financial services for 18 years, and ordered the group to pay $7.8 million for engaging in unconscionable conduct. The court ...

Small advice firms face big data breach penalties

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2018
Small financial advice practices that breach new cybersecurity laws coming into effect next month can face penalties of up to $1.8 million. The stark warning comes from the Australian Small Business and Family Enterprise Ombudsman, which is urging small ...

CBA embroiled in rate-rigging allegations

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2018
The Commonwealth Bank is disputing allegations made by ASIC that it rigged the bank bill swap reference rate (BBSW) and engaged in unconscionable conduct. ASIC initiated civil penalty proceedings yesterday, alleging CBA traded a large number of its ...