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Showing 81 - 90 of 297 results for "Watchdog"

FPA accuses ASIC of price gouging

ELIZA BAVIN  |  MONDAY, 15 JUN 2020
... estimated the industry funding levy for 2019-20 will be $1571 per adviser, a 38% increase on the previous year. The corporate watchdog is looking to recoup $40.17 million from 3051 AFS licensees with 22,652 advisers. While ASIC states that the indicative ...

WAM responds to Keybridge claims

ALLY SELBY  |  FRIDAY, 5 JUN 2020
... technical relief in respect to its 6.9 cents per share offer as a result of the orders made in the proceedings. The corporate watchdog has extended the deadline for dispatching the bidder's statement to allow time for WAM to process its application. ...

Open banking accreditation now open

ALLY SELBY  |  WEDNESDAY, 27 MAY 2020
... that wants to receive Consumer Data Right data to provide products or services to consumers has to be accredited, the watchdog said. "We are encouraging businesses wanting to participate in the Consumer Data Right regime to apply for accreditation and ...

ASIC secures $160m in remediation over junk credit insurance

ALLY SELBY  |  THURSDAY, 14 MAY 2020
... publish claims ratios to check how CCI products provide value to consumers and ensure ongoing public transparency," the watchdog said. To safeguard consumers, ASIC has banned "cold-call" telephone sales of consumer credit insurance, worked with industry ...

Trust in big four improves

ALLY SELBY  |  MONDAY, 11 MAY 2020
... opportunity to repair reputational damage. "The Big 4 have been through the Royal Commission and Westpac having the financial watchdog AUSTRAC level 23 million allegations against it for breaches of money-laundering and counter-terrorism finance laws," ...

SMSF auditors come under fire

ALLY SELBY  |  THURSDAY, 23 APR 2020
The corporate watchdog has disqualified, suspended and added additional conditions to six different self-managed super fund auditors as it works to ensure the industry meets competency and expertise standards. Auditors from around the country suffered ...

Dealer group AFSL in limbo

ALLY SELBY  |  THURSDAY, 23 APR 2020
... Services' AFSL is on ice as the Administrative Appeals Tribunal reviews ASIC's decision. It comes after the corporate watchdog suspended the advisory firm's AFS licence on February 12 on the grounds that it had failed to comply with its licensee ...

Open banking to charge on

ELIZA BAVIN  |  TUESDAY, 7 APR 2020
The consumer watchdog has confirmed the launch of open banking will go ahead at the July 1 deadline as a means to help drive competition. ACCC chair Rod Sims said he believes a key driver of reform, and greatly improved competition in financial services ...

Queensland adviser barred from industry

ALLY SELBY  |  WEDNESDAY, 26 FEB 2020
A Queensland-based financial adviser has been permanently banned and an AFS licence canned, after the corporate watchdog found he had procured loans for his own use from SMSF clients. ASIC has banned William John Henry Houwing, also known as Jack Houwing ...

Consultation on mortgage broker best interests duty opens

ALLY SELBY  |  THURSDAY, 20 FEB 2020
The corporate watchdog has started a four week consultation process to draft guidance on the new best interests duty for Australia's mortgage brokers. From July 1 this year, mortgage brokers will be legally required to act in the best interests of consumers ...