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Showing 1 - 10 of 132 results for "ASIC for"

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
... both retail and wholesale investors. In 2023, Sanlam authorised representative, fintech Bobbob, was fined $53,280 by ASIC for misrepresenting its crypto product.

ASX sued by ASIC for alleged misleading statements

ELIZA BAVIN  |  WEDNESDAY, 14 AUG 2024
The Australian Securities and Investments Commission (ASIC) has commenced proceedings in the Federal Court against the ASX, for allegedly making misleading statements related to its Clearing House Electronic Subregister System (CHESS) replacement project. ...

New recruits top advice industry priority: FAAA

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
... in the past claimed the levy was calculated based on the "denominator effect". Last year, however, the FAAA called out ASIC for its lack of transparency around how its levy is exactly calculated. This led to ASIC revising the $55.5 million estimates ...

Sequoia seeks Takeovers Panel intervention

KARREN VERGARA  |  FRIDAY, 17 MAY 2024
... exercise any voting rights in Sequoia shares which they acquired on or after 31 March 2024 and such shares must be vested in ASIC for sale. In a separate letter dated May 10 and sent to all shareholders ahead of the EGM, Crole and Pattison, together ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds. An overwhelming number of members are goaded into leaving ...

ASIC chief executive to depart

ELIZA BAVIN  |  TUESDAY, 16 APR 2024
... in particular supporting its organisational transformation since 2021. "Warren has been a significant contributor to ASIC for more than 20 years across virtually every part of ASIC's remit. This is an opportunity for him to bring the skills and experience ...

iExtend finds interim arrangement to operate

KARREN VERGARA  |  TUESDAY, 6 FEB 2024
After being rebuked by ASIC for operating without an AFS Licence, iExtend is now running under a Corporate Authorised Representative (CAR) arrangement for the interim. A CAR enables iExtend to act as an agent of an AFS Licensee, meaning it is authorised ...

ASIC forced to pay James Mawhinney's legal costs

JAMIE WILLIAMSON  |  TUESDAY, 28 NOV 2023
ASIC has been ordered to pay the costs Mayfair 101 managing director James Mawhinney incurred during the regulator's failed attempt at bringing an expanded case against him. The order follows the Federal Court of Australia's decision last month to reject ...

ASIC freezes out former Magnolia Capital director

ANDREW MCKEAN  |  WEDNESDAY, 22 NOV 2023
... services in relation to secured lending transactions and share investment. Notably, a liquidator's report filed with ASIC for 13 of these companies showed that they were unable to pay their unsecured creditors more than 50 cents on the dollar. The corporate ...

Westpac reports $7.2bn profit

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... of customer calls in total, however, increased to over 210,00 during the period. The bank is currently in trouble with ASIC for allegedly neglecting more than 200 customer hardship requests over a seven-year period. Westpac blames it on "technology failure". ...
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