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Showing 1 - 10 of 43 results for "Karen Chester"

Breach reporting guidance released

KARREN VERGARA  |  WEDNESDAY, 8 SEP 2021
... for large financial institutions to identify incidents that proved to be significant breaches. ASIC deputy chair Karen Chester said: "Today's remediation tally reveals how much consumer harm these delays caused, and ultimately at great cost to those ...

Funds valued illiquid asset correctly: ASIC

KARREN VERGARA  |  WEDNESDAY, 11 AUG 2021
... super funds and other asset managers copped flak for how they valued their illiquid investments. ASIC deputy chair Karen Chester said over 2.5 million investors can take comfort from the findings in that during the market volatility of 2020, fund managers' ...

Data to improve TPD outcomes: ASIC

ANNABELLE DICKSON  |  MONDAY, 2 AUG 2021
... insurers is often inconsistent or not in a searchable or reportable format, limiting its usefulness," ASIC deputy chair Karen Chester said. "To achieve good customer outcomes, insurers must lift their data capabilities. Insurers also need to invest more ...

AFA slams skyrocketing ASIC levy

KARREN VERGARA  |  WEDNESDAY, 28 JUL 2021
... years, these two items account for an investment in litigation funding of as much as $50 million." ASIC deputy chair Karen Chester said in a parliamentary hearing in March that the regulator typically recovers the costs incurred in prosecuting the major ...

OnePath to remediate over pressure selling

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
... practices and delivered compensation to tens of thousands of consumers who have suffered harm," ASIC deputy chair Karen Chester said. "Better industry practice and improved consumer outcomes followed ASIC's deep dive review of direct sales of life insurance ...

Managed funds coped with COVID-19: ASIC

ELIZABETH MCARTHUR  |  FRIDAY, 30 APR 2021
... entities should continue to carefully manage the liquidity risks associated with their funds," ASIC deputy chair Karen Chester said. "We will continue to monitor liquidity management by responsible entities and may take compliance or other action where ...

ASIC appoints new chair, deputy chair

ELIZABETH MCARTHUR  |  THURSDAY, 29 APR 2021
... pandemic." Shipton added that he will work with Longo and Court to facilitate a smooth transition. Deputy chair Karen Chester had previously confirmed to Parliament that she hoped to be considered as the next ASIC chair. She will remain co-deputy chair ...

ASIC opens breach reporting consultation

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
... prolonged and repeated failures by large entities to make breach reports required by the law," ASIC deputy chair Karen Chester said. "Breach reporting is a core component of Australia's financial services and credit regulatory framework. The reforms ...

Time running out for claims licences

ELIZABETH MCARTHUR  |  FRIDAY, 9 APR 2021
... Some applications received have also needed to be re-submitted because of their poor quality," ASIC deputy chair Karen Chester said. "We are concerned that firms are running the risk of not submitting a complete application in time to get the benefit ...

Junk insurance lands Westpac in court

KARREN VERGARA  |  THURSDAY, 8 APR 2021
... action follows ASIC's investigation of 11 major banks and other lenders selling junk insurance. ASIC deputy chair Karen Chester said the investigations in late 2018 and 2019 found lenders had disappointingly not changed policies and conduct to stem harms ...
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