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Showing 971 - 980 of 5615 results for "ASIC"

Mercer fined $12m over advice failures

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
... in the market for financial services to ensure that conduct of the kind which has occurred in this case does not occur." ASIC had proposed to the court that Mercer be fined $20 million, while Mercer claimed a penalty of $8.5 million was sufficient, adding ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
ASIC has accepted a court enforceable undertaking from iExtend Holdings Company (iExtend) after investigating concerns that it was operating without an AFSL. The undertaking also relates to iExi Pty Ltd, which trades as iExtend. Documents show the investigation ...

Small, large entity regulation needs balance: APRA

KARREN VERGARA  |  WEDNESDAY, 22 NOV 2023
... was done to build that system; the responsiveness; we've been able to maintain confidence in the [system]," he told the ASIC Annual Forum this morning. While the major banks are raking in massive profits from a higher interest rate environment, many ...

ASIC freezes out former Magnolia Capital director

ANDREW MCKEAN  |  WEDNESDAY, 22 NOV 2023
ASIC has banned former Magnolia Capital Group director Mitchel Atkins from managing corporations and providing financial services. Atkins was a director of Magnolia Capital, which went bankrupt in 2022, owing unsecured creditors millions of dollars. ...

Interest rate hikes are working: Bullock

KARREN VERGARA  |  TUESDAY, 21 NOV 2023
... interest rates amid many challenges that looks to keep inflation at stubborn levels over the next two years. Speaking at the ASIC Annual Forum in Melbourne this morning, Bullock hailed monetary policy as a necessary yet "blunt tool" that stings the cash ...

ASX awards settlement, clearing mandate

KARREN VERGARA  |  MONDAY, 20 NOV 2023
... some $255 million expended on the failed project that kickstarted as far back as 2015. The Reserve Bank of Australia and ASIC were also forced to act amid concerns over ASX's ineptitude to deliver on the transformation by appointing Alan Cameron ...

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
It may be tougher for wholesale investors looking to the Australian Financial Complaints Authority to help resolve a dispute as the authority tightens its rules on how it assesses their complaints. AFCA will shortly update its operational guidelines ...

ASIC strips institutional broker's AFSL

ANDREW MCKEAN  |  THURSDAY, 16 NOV 2023
ASIC has suspended JB Markets' Australian financial services licence (AFSL), restricting the firm to only terminating existing client arrangements. The corporate regulator revoked JB Markets' AFSL due to non-compliance with financial requirements and ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
... areas. Its performance began tanking in 2019, losing as much as 34.2% in value. In the year to March 2020, it lost about 76%. ASIC dropped its Federal Court case against DASS, which saw the latter pay $7.2 million in penalties and $1 million in legal ...

ASIC to crack down on superannuation misconduct

ANDREW MCKEAN  |  WEDNESDAY, 15 NOV 2023
ASIC has announced plans for strong, targeted enforcement action in the superannuation sector, focusing on member outcomes in 2024. Baring its teeth in an enforcement and regulatory update released today, the corporate regulator signalled that tackling ...