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Showing 1 - 10 of 70 results for "ASIC Report"

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON  |  THURSDAY, 9 NOV 2023
More than $17.4 million has been made in compensation payments to retail clients affected by legal breaches by eight retail OTC derivative issuers, $13 million of which was paid by Binance alone. ASIC said the payments have been made to more than 2000 ...

ASIC chair calls out greenhushing

RACHEL ALEMBAKIS  |  TUESDAY, 6 JUN 2023
... from the consumer to the investor, to companies themselves - to say nothing of the planet." Longo referenced a recent ASIC report that summarised ASIC's recent crackdown on scrutiny. In the report, ASIC identified four main categories of greenwashing ...

Class action commenced against IG Markets

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
Piper Alderman and Omni Bridgeway have filed their class action against IG Markets, representing investors that lost hundreds of millions trading contracts for difference (CFDs). In October 2022, the two firms said they were planning an action against ...

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI  |  TUESDAY, 7 MAR 2023
... Harbour is a "key" part of the recommendation and something also suggested by Commissioner Hayne. "In December 2019, the ASIC Report 639 on advice provided by superannuation funds, found less than 50% of the files were deemed compliant, but only in 15% ...

Target market determinations have improved: ASIC

ANDREW MCKEAN  |  WEDNESDAY, 14 DEC 2022
... has improved lenders target market determinations (TMD), but it still harbours concerns over product descriptions. ASIC Report 754 focuses on small amount credit contracts (SACCs) due to the overrepresentation of financially vulnerable consumers accessing ...

Proposed CFD class action targets IG Markets

JAMIE WILLIAMSON  |  TUESDAY, 11 OCT 2022
Piper Alderman and Omni Bridgeway are preparing a class action against IG Markets on behalf of investors who collectively lost an estimated $800 million or more trading contracts for difference (CFDs). The proposed action involves up to 20,000 "everyday ...

Most retirees want pension support through super: Report

CASSANDRA BALDINI  |  TUESDAY, 16 AUG 2022
... industry since, but the price of personal financial advice has risen substantially over the past two years. As noted in ASIC Report 627,1 it is no surprise that consumers consider advice to be too expensive," the report reads. Link Advice general manager ...

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 pushes super governance improvements

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 APR 2022
More than 20 super fund trustees have revised their internal policies after ASIC surveillance found significant deficiencies in their conflicts management arrangements relating to investment switching. ASIC's surveillance found a lack of oversight ...

Most shorted companies on ASX: Report

ELIZABETH MCARTHUR  |  TUESDAY, 2 NOV 2021
Australia's most shorted listed companies include several mining and resources companies along with Crown Resorts and accounting software firm Xero. That's according to new analysis from US-based researcher Fintel. It reported that as of October 31 ...
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