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Showing 1 - 10 of 5693 results for %22Commission%22

'Just do what you say you'll do': ASIC's message to trustees

JAMIE WILLIAMSON  |  FRIDAY, 10 MAY 2024
... calling altogether. "Unfortunately, some funds and advisers are forgetting the lessons of the Financial Services Royal Commission and the horror of 'fees for no service'. Right now, some within the industry are calling for the removal of obligations ...

ASIC slams funds' serious deficiencies over advice fee charges

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
A review by ASIC has found evidence of poor oversight of advice fee deductions by superannuation trustees, with some allowing charges of up to $20,000 before raising concerns and some not conducting any checks of advice documents at all. ASIC is calling ...

SMC says 'reckless' plan could cost taxpayers $1tn

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
Super Members Council (SMC) has slammed the Coalition's plan for young Australians to use their super for a house deposit, saying new modelling shows it could cost taxpayers a cumulative $1 trillion. SMC said even a policy which capped super withdrawals ...

Advisers must unite for major reforms: SIAA

KARREN VERGARA  |  THURSDAY, 9 MAY 2024
... then implementing the change is greater." The advice industry has endured substantial reforms since the Hayne Royal Commission. The most recent round of changes aims to streamline some process documents such as the ongoing fee renewal and consent requirements. ...

J.P. Morgan hit with $775k penalty

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
... fine by the Markets Disciplinary Panel (MDP) following an investigation by the Australian Securities and Investments Commission (ASIC). The MDP found JPMSAL permitted suspicious client orders to be placed on the futures market, ASX 24. The MDP said it ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds. An overwhelming number of members are goaded into leaving ...

ATO flags key focus areas this tax time

ELIZA BAVIN  |  MONDAY, 6 MAY 2024
The Australian Taxation Office (ATO) has announced it will be taking a close look at three key areas where taxpayers make common mistakes this tax season. Incorrectly claiming work-related expenses, inflation claims for rental properties and failing ...

ASIC hits back at parliament: 'Simply not realistic'

ELIZA BAVIN  |  TUESDAY, 30 APR 2024
Australian Securities and Investments Commission (ASIC) chair Joe Longo had some choice words when addressing the Parliamentary Joint Committee on Corporations and Financial Services today. When questioned over its capacity to respond to people who ...

Auditors lambast mandatory climate reporting requirements

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... hardship as a result of these planned new reporting requirements." Meantime, Australian Securities and Investments Commission (ASIC) chair Joe Longo said growing interest in environmental, social, and governance issues had driven the need for more thorough ...

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian Financial Services Licence (AFSL) of JB Markets effective from 12 April 2024. ASIC said JB Markets failed to comply with the financial requirements of its AFSL ...
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