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Showing 1 - 10 of 39 results for "Court Enforceable Undertaking"

Macquarie broke law by not putting Shield on watch list, says court

JAMIE WILLIAMSON  |  FRIDAY, 20 MAR 2026
... Statement of Agreed Facts and Admissions filed by ASIC and Macquarie. It follows Macquarie entering a court enforceable undertaking with ASIC in September last year and agreeing to reimburse more than 3000 super members who had been invested in Shield. ...

Governance issues on the rise: ASIC

ELIZA BAVIN  |  WEDNESDAY, 25 FEB 2026
In the six months from 1 July 2025 to 31 December 2025, the corporate watchdog received 9686 reports of misconduct (ROMs), raising 13,036 issues, new data from ASIC shows. ASIC said the increase in ROMs was driven largely by corporate governance concerns ...

Senate questions APRA's role in Shield, First Guardian disaster

KARREN VERGARA  |  FRIDAY, 13 FEB 2026
... and their $1 billion in retirement savings, according to ASIC. In December 2025, APRA accepted a court enforceable undertaking from Netwealth and imposed licence conditions on Diversa Trustees and Equity Trustees to address investment governance-related ...

Netwealth to spend $101m compensating First Guardian victims

JAMIE WILLIAMSON  |  THURSDAY, 18 DEC 2025
... was frozen in May 2024 some $100.6 million remained invested. The platform provider has entered a court enforceable undertaking with ASIC to ensure all impacted members see their capital, less withdrawals, reimbursed by 30 January 2026. Netwealth said ...

APRA lifts final Westpac capital add-on

KARREN VERGARA  |  WEDNESDAY, 15 OCT 2025
... terrorism financing risks associated with correspondent banking relationships. Westpac entered a court enforceable undertaking (CEU) with APRA in December 2020 where it committed to remediating specific prudential weaknesses identified in its culture ...

ASIC raises alarm on auditor independence, conflicts of interest

KARREN VERGARA  |  WEDNESDAY, 8 OCT 2025
Too many auditors are failing the independence test and breaching conflicts of interest obligations, according to an ASIC investigation. A review of 15 audit firms saw nine did not meet rotation requirements while five of them had "relevant relationships" ...

Brite Advisors auditor admits failures, surrenders registration

ANDREW MCKEAN  |  FRIDAY, 27 JUN 2025
ASIC has accepted a court enforceable undertaking from DM Advisory Services principal David Makowa, the auditor of Brite Advisors. Makowa, a veteran of more than 20 years in practice - including stints at Ernst & Young and KPMG - has surrendered his ...

APRA hits ANZ with $1bn capital penalty

ELIZA BAVIN  |  THURSDAY, 3 APR 2025
The Australian Prudential Regulatory Authority (APRA) has accepted a Court Enforceable Undertaking (CEU) from ANZ to address ongoing weaknesses in the bank's non-financial risk management practices and risk culture. APRA also increased the capital add-on ...

iExtend appoints chief operating officer

ELIZA BAVIN  |  WEDNESDAY, 2 APR 2025
... growth built on these strong foundations." iExtend received its AFSL in July 2024, after entering a court enforceable undertaking over concerns of unlicensed conduct. In November 2023, the life insurance startup entered a court enforceable undertaking ...

Cbus faces fresh investigation over fund expenditure practices

ANDREW MCKEAN  |  TUESDAY, 11 FEB 2025
... efficiently, and in the appropriate order of priority. If Cbus breaches any commitments under the court enforceable undertaking, which are separate to the additional licence conditions, APRA can enforce them in the Federal Court. Cbus said the work program ...
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