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Showing 1 - 10 of 100+ results for "ASIC"

Macquarie Securities slapped with $126k fine

KARREN VERGARA  |  TUESDAY, 18 MAY 2021
... buy orders," it said. Consequently, the panel had reasonable grounds to believe that MSA contravened Rule 3.3.1(b) of the ASIC Market Integrity Rules (Securities Markets) 2017 . MSA has subsequently ceased using ASXC for buy-back trading. According to ...

ASIC bans Theta managing director

KARREN VERGARA  |  MONDAY, 17 MAY 2021
ASIC has banned the managing director of Theta Asset Management for four years from the financial services industry. The banning order for Robert Patrick Marie comes after several instances of misconduct relating to Theta, the responsible entity of ...

ASIC to wind up PE Capital

ELIZABETH MCARTHUR  |  FRIDAY, 14 MAY 2021
ASIC has taken action to wind up PE Capital Funds Management and its managed investment schemes. The regulator is alleging that PE Capital operated unregistered managed investment schemes including the PE Capital Property Development Fund, PE Capital ...

ASIC issues warnings on investment scams

ANNABELLE DICKSON  |  FRIDAY, 14 MAY 2021
... self-managed super funds, and advertisements for crypto-asset and contracts for difference disguised as fake news articles. ASIC has discovered an SMSF scam where individuals have been cold called or emailed to transfer funds from their existing super ...

QSuper makes changes ahead of merger

ELIZABETH MCARTHUR  |  THURSDAY, 13 MAY 2021
... from its definition of total and permanent disablement. This is in-line with recommendations made to funds and insurers by ASIC. "The significant event notice covers changes deemed significant to our members. The changes to product are unrelated to merger ...

APRA extends IDII overhaul deadline

KARREN VERGARA  |  THURSDAY, 13 MAY 2021
... addressing fundamental risks associated with IDII. "APRA will continue to engage and work with industry stakeholders and ASIC to support the implementation of the policy contract term measure and sustainable practices more broadly. Ultimately, however ...

Advice practices set to benefit from tax cuts

KARREN VERGARA  |  WEDNESDAY, 12 MAY 2021
Small business owners, like financial planners, are set to benefit from the 30% tax rate reducing to 25% from 1 July 2021. Federal treasurer Josh Frydenberg also announced last night that temporary full expensing has been extended until 30 June 2023. ...

Low FASEA pass rate continues

ELIZABETH MCARTHUR  |  WEDNESDAY, 12 MAY 2021
... passed the exam across all sittings. Over 13,500 advisers have now passed the exam, representing 65% of the advisers on the ASIC Financial Adviser Register. All existing financial advisers must pass the FASEA exam by 2021 end to stay in the industry. ...

Key Treasury initiatives outlined

JAMIE WILLIAMSON  |  TUESDAY, 11 MAY 2021
... continued operation of clearing and settlement facilities, with any funding to be recovered once a crisis is resolved. Further, ASIC will be given enhanced supervisory and licensing power, and regulatory powers will be streamlined to ensure system efficiency. ...

ASIC cracks down on investment guru

ELIZABETH MCARTHUR  |  TUESDAY, 11 MAY 2021
A self-styled investment guru and social media wealth expert has had her Australian credit licence cancelled by ASIC. Dominique Grubisa lost her licence for her company Master Wealth Control on the basis that the business was not engaging in the credit ...
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