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Showing 1 - 10 of 1702 results for "Breach"

Netwealth faces potential class action over First Guardian failure

RIDDHIMA TALWANI  |  MONDAY, 21 SEP 2026
Netwealth Group has received letters of potential class action, alleging it breached duties while offering and monitoring certain First Guardian investment options available through the Netwealth Superannuation Master Fund. No proceedings have yet been ...

Australian Fiduciaries auditor suspended for three years

RIDDHIMA TALWANI  |  WEDNESDAY, 16 SEP 2026
... failings were not on the margins of the audit function but went to its core. "This is not a case of an isolated or technical breach on a single audit; it involved foundational obligations of an auditor - the obligation to obtain sufficient appropriate ...

New law tightens foreign resident CGT rules on Australian property assets

KARREN VERGARA  |  FRIDAY, 11 SEP 2026
New laws that toughen the rules around capital gains tax (CGT) to ensure foreign residents pay their fair share of tax on Australian real property have passed both houses of parliament. Treasury Laws Amendment (Strengthening Accountability for Tax Adviser ...

ASIC zeroes in on recurring compliance breaches

VINNY VUCAGO  |  THURSDAY, 10 SEP 2026
... obligations to conduct reference checks before employing or authorising prospective financial advisers. The regulator said recent breach reporting data indicated some AFS licensees were appointing advisers without completing required checks. The ASIC ...

Labor moves to kill non-compete clauses in productivity push

RIDDHIMA TALWANI  |  TUESDAY, 8 SEP 2026
... terms means many employees stay in unfavourable jobs because leaving may result in court action or unemployment if they breach their restraint of trade term," Treasury said. "This affects the ability of Australian employees to move to better-paying and ...

Banned SMSF auditor sentenced for falsifying reports

VINNY VUCAGO  |  THURSDAY, 3 SEP 2026
Banned SMSF auditor Kirstian Convery has been sentenced to 60 hours of unpaid community work after pleading guilty to continuing to act as an auditor while disqualified and falsifying audit documents. Convery was convicted by the Melbourne Magistrates ...

Insurer sanctioned for over 10k breaches

MATTHEW WAI  |  WEDNESDAY, 2 SEP 2026
The Life Insurance Code Compliance Committee (Life CCC) has sanctioned a life insurer after it reported more than 10,000 breaches of the Life Insurance Code of Practice (Life Code) in relation to failure to provide timely, completed annual notices. ...

CBA, Colonial First State settle class action for $249m

KARREN VERGARA  |  WEDNESDAY, 26 AUG 2026
Commonwealth Bank (CBA), together with Colonial First State Investments (CFSI) and Avanteos Investments, have agreed to settle the long-running Interest Rates Class Action for $249 million but deny wrongdoing. The class action spearheaded by Slater ...

APRA targets platform trustees, welcomes stronger powers

KARREN VERGARA  |  THURSDAY, 20 AUG 2026
APRA is targeting platform trustees' uplift in investment governance in a new consultation, which is underscored by Labor's proposed new powers that will enable it to police new capital requirements for superannuation funds that offer higher-risk options ...

Mulino unveils sweeping reforms to cold calling, MISs

KARREN VERGARA  |  WEDNESDAY, 19 AUG 2026
The government will enforce sweeping reforms around cold calling, predatory superannuation switching and managed investment schemes (MISs) in the wake of the Shield and First Guardian Master Fund collapses, which lost an estimated $1 billion in retirement ...
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