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Showing 1 - 10 of 3009 results for "Compliance"

How to win in today's wealth management industry: EY

ANDREW MCKEAN  |  WEDNESDAY, 24 APR 2024
... future growth. Finally, wealth managers need to transform the efficiency and effectiveness of their risk management and compliance activities. "The challenge is to sweep away outdated controls and complex processes, as well as institute significant cultural ...

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... requirements upon AFS licensees to help ensure that they have sufficient financial resources to conduct their business in compliance with financial services laws," ASIC said. "The requirements provide important consumer protections in seeking to reduce ...

Sequoia chair steps down

KARREN VERGARA  |  FRIDAY, 19 APR 2024
... technology. Sweeney has been a Sequoia non-executive director since 1 March 2019. He is currently the chair of the risk and compliance committee and a member of the audit committee. Separately, Tim McGowen recently slapped a defence and counterclaim ...

Adam Blumenthal ordered to pay $850k

ELIZA BAVIN  |  THURSDAY, 18 APR 2024
... Creso. The court determined Blumenthal had breached his duties as a director of EverBlu by failing to comply with its compliance policies and causing it to breach its obligations as an Australian financial services (AFS) licensee which jeopardised its ...

ASIC chief executive to depart

ELIZA BAVIN  |  TUESDAY, 16 APR 2024
... commence in early 2025. Meantime, after more than 25 years of service to ASIC, executive director of enforcement and compliance Tim Mullaly also advised that he will be retiring at the end of July 2024. Mullaly has held executive roles at ASIC for the ...

ASIC consults on misconduct reporting rules

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
... administrators and controllers: Reporting of possible offences and misconduct (RG16) seeks to clarify ASIC's expectations for compliance with reporting obligations. The consultation is in response to feedback from industry associations, professional ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... million penalty by the Federal Court for failing to comply with basic obligations, including operating with almost no compliance staff or risk management processes. In July 2022, ASIC issued civil penalty proceedings against wholesale licensee Lanterne ...

Court approves wind up of Prospero Markets

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... wound up following an application by the corporate regulator. ASIC has been investigating Prospero Markets for non-compliance with its AFSL conditions and obligations as an OTC derivatives issuer. The regulator said it has been contacted by Prospero ...

Life insurers struggle with code compliance

KARREN VERGARA  |  WEDNESDAY, 10 APR 2024
Life insurers continue to breach their own compliance code with more than 12,000 instances recorded, yet the body overseeing their conduct fears this is likely under-reported. The Life Code Compliance Committee (LCCC) saw another increase in the number ...

Why fund managers are missing out on investment mandates

ELIZA BAVIN  |  WEDNESDAY, 10 APR 2024
New research from Ocorian and Newgate Compliance found alternative fund managers are losing investment mandates or clients because of compliance issues. The research also revealed there had been an increased level of internal conflict between fund management ...
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