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Showing 1 - 10 of 586 results for "Misconduct"

ASIC warns it can't take action on every case of misconduct

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... and Investments Commission (ASIC) commissioner Alan Kirkland has admitted the regulator can't fight every battle of misconduct, but that doesn't mean it's not watching. Speaking at the Blockchain APAC Policy Week event, Kirkland said ASIC can only regulate ...

Sexism in the City: UK financial sector slammed

JAMIE WILLIAMSON  |  WEDNESDAY, 13 MAR 2024
... culture. "There have been several high-profile cases which show the existential risk to firms who don't tackle sexual misconduct. We also know that more diverse organisations perform better, so inaction is not only immoral but bad for growth and ...

ASX settles $1.05m fine for transparency failures

ANDREW MCKEAN  |  THURSDAY, 7 MAR 2024
... detect and address the issue promptly were aggravating factors. Although no direct financial losses were linked to the misconduct, ASIC emphasised that the resulting damage to public confidence in the market operator also contributed to the severity ...

ASIC cracks down on scammers

CHLOE WALKER  |  MONDAY, 4 MAR 2024
... it has shut down about 3500 investment scam websites since July 2023 to protect Australians from digitally enabled misconduct. According to ASIC's latest enforcement and regulatory update, it has secured almost $60 million in civil penalties and ...

Jo-Anne Bloch to chair CSLR

CHLOE WALKER  |  TUESDAY, 27 FEB 2024
... of Last Resort (CLSR). The scheme, which officially kicks off on April 2, aims to give victims of financial services misconduct access to redress and compensation. Bloch, who was independently appointed by assistant treasurer and minister for financial ...

ASIC vigilant on bad SMSF advice

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... advisers to provide appropriate SMSF advice using "professional judgment", as the regulator flags serious instances of misconduct it wants to curb. At the annual SMSF Association National Conference, ASIC senior executive leader for financial advice ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
... days of receiving an invoice. A second instalment will be due in July 2024. Under the scheme, victims of financial misconduct will be eligible for payments up to $150,000. "We are pleased to announce this important milestone as an important step towards ...

Former adviser misled ASIC during investigation: Court

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... with two counts of providing false or misleading information to ASIC during the regulator's investigation into his misconduct. Kristofer Ridgway allegedly provided false information during ASIC's investigation into his role in recommending unlisted ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
... competitive, while adding there were no plans to take the fund public. 7) Munich Re targets AMP over alleged reinsurance misconduct (August 23) In a disclosure nestled within AMP's half-year results, it was revealed that AMP Limited and subsidiaries ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... Taxation Office jointly regulate the SMSF sector; the ATO has the role of auditing SMSF auditors. Financial adviser misconduct in the SMSF space is rife. One example is former adviser Terence Rio Nugara was jailed for stealing SMSF clients' money ...
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