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Showing 81 - 90 of 256 results for "Financial Services Law"

OTC derivatives provider loses licence, executives banned

CASSANDRA BALDINI  |  THURSDAY, 14 JUL 2022
Over-the-counter derivatives provider Sirius Financial Markets Pty Ltd has surrendered its AFSL and its former executives Jonathan Schneider and Oskar Pecyna have both been banned for eight years. ASIC reported that Sirius Financial, trading as Trade360 ...

ASIC takes Lanterne Fund Services to court

ANDREW MCKEAN  |  THURSDAY, 7 JUL 2022
ASIC has issued civil penalty proceedings against wholesale licensee Lanterne Fund Services, saying it operated with almost no compliance staff or risk management processes. The regulator alleges that Lanterne has on multiple occasions failed to meet ...

Former adviser charged over faked books

CHLOE WALKER  |  TUESDAY, 28 JUN 2022
... permanently banned by ASIC for his dishonest conduct with the regulator saying he is likely to contravene financial services law in future for reasons including that he did so while licensed under two different groups. Commenting on the sanction, ASIC ...

Performance test comms criticised

JAMIE WILLIAMSON  |  FRIDAY, 24 JUN 2022
ASIC is warning super trustees to ensure they communicate upcoming performance test outcomes correctly to members, saying some of the funds that failed the test last year also failed to adequately inform members. The regulator has reviewed the performance ...

MSC Group launches Singaporean fund service

CASSANDRA BALDINI  |  FRIDAY, 17 JUN 2022
MSC Group has launched its fund services platform in Singapore after receiving a local capital markets licence. Its wholly owned subsidiary MSC Capital Partners Pte Ltd was issued the licence by the monetary authority of Singapore at the end of May. ...

Mayfair sues Mission Beach lender

ELIZABETH MCARTHUR  |  THURSDAY, 14 APR 2022
... products for 20 years after Justice Anderson found Mawhinney had been "involved in multiple contraventions" of financial services law. The judge described Mawhinney's conduct as "serious, incompetent and reckless and displaying a propensity for conduct ...

Mawhinney appeals 20-year ban

ELIZABETH MCARTHUR  |  MONDAY, 11 APR 2022
... products for 20 years after Justice Anderson found Mawhinney had been "involved in multiple contraventions" of financial services law. The judge described Mawhinney's conduct as "serious, incompetent and reckless and displaying a propensity for conduct ...

Westpac fined $1.5m for mis-selling insurance

ANDREW MCKEAN  |  FRIDAY, 8 APR 2022
The Federal Court has ordered Westpac to pay a $1.5 million penalty for mis-selling consumer credit insurance with its credit cards and Flexi Loans, to customers who hadn't agreed to buy insurance policies. This penalty has come as a result of Westpac's ...

ASIC issues warning to finfluencers

JAMIE WILLIAMSON  |  MONDAY, 21 MAR 2022
... products and the licensees who use them, warning they face substantial penalties if their content contravenes financial services law. The information sheet follows confirmation from ASIC chair Joe Longo last year that the regulator was concerned with ...

Permanent ban for former authorised representative

CHLOE WALKER  |  FRIDAY, 18 MAR 2022
ASIC has permanently banned Roderick Halligan from providing financial services or having any involvement in a financial services business. According to the corporate regulator, between 1 June 2015 to 22 October 2020, Halligan, who was an authorised ...