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Showing 1 - 10 of 1685 results for "Breach"

FEATURE | Platforms | The investment supermarket

RIDDHIMA TALWANI  |  TUESDAY, 21 JUL 2026
... basic protections, like looking into an advice licensee's business model before they are onboarded. This is a clear breach of trust." ASIC currently also has cases in the Federal Court against Equity Trustees and Diversa Trustees, both trustees-for-hire ...

FSCP bans adviser over client advice failures

VINNY VUCAGO  |  MONDAY, 20 JUL 2026
The Financial Services Credit Panel (FSCP) has cancelled the registration of financial adviser Peter Morrison-Dowd and banned him from providing personal advice to retail clients until at least September 2027 after finding multiple breaches of his legal ...

Prime Value licence suspended over reporting failures

VINNY VUCAGO  |  MONDAY, 20 JUL 2026
ASIC has suspended the Australian financial services licence (AFSL) of Prime Value Asset Management after the fund manager failure to meet its statutory audit and financial reporting obligations for two consecutive financial years. The corporate regulator ...

NAB-owned WealthHub cops $1m ASIC fine

VINNY VUCAGO  |  WEDNESDAY, 15 JUL 2026
NAB-owned online broker WealthHub Securities has been hit with a $1.055 million penalty after ASIC found it failed to accurately report regulatory data more than 9.5 million times over a decade. ASIC said he reporting failures undermined the corporate ...

ASIC fines Deutsche Bank for 'systemic' reporting failures

KARREN VERGARA  |  MONDAY, 13 JUL 2026
... transactions across 208 separate business days. These transactions related to foreign exchange and commodities OTC transactions in breach of ASIC derivative transaction reporting rules. Such rules require financial institutions to report derivative transaction ...

Mercer Super fined $10.3m for reportable situations failures

KARREN VERGARA  |  MONDAY, 29 JUN 2026
Mercer Superannuation Australia will pay a $10.3 million penalty after it admitted to breaching the Reportable Situations Regime on several occasions, which the Federal Court found could have had the "potential to have a detrimental effect on members." ...

ASIC calls out platform trustees: 'Clear breach of trust'

RIDDHIMA TALWANI  |  MONDAY, 29 JUN 2026
... establish basic protections, like looking into an advice licensee's business model before they are onboarded. This is a clear breach of trust." The report urged trustees to monitor fee caps based on an appropriate cost of advice, set appropriate minimum ...

HSBC Bank fined $35m in landmark scam-protection failures

KARREN VERGARA  |  FRIDAY, 19 JUN 2026
HSBC Bank Australia has been hit with a $35 million penalty after admitting to widespread and systemic failures in protecting customers from scams. Following a Federal Court hearing in Melbourne on June 18, Justice Bennett handed down the penalty and ...

ASIC expands list of super lead generation entities

VINNY VUCAGO  |  THURSDAY, 18 JUN 2026
... names entities to 63. ASIC stressed that inclusion on the list should not be interpreted as evidence of wrongdoing or a breach of law. However, it said consumers should exercise caution when dealing with businesses that use lead generation practices ...

ASIC secures record $300m penalty over 'egregious' CFD misconduct

VINNY VUCAGO  |  MONDAY, 15 JUN 2026
The Federal Court has imposed record penalties totalling more than $300 million against collapsed contracts for difference (CFD) issuer Union Standard International Group and two of its former authorised representatives. ASIC described the court action ...
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