ALLY SELBY  |  FRIDAY, 14 FEB 2020   12:40PM
The Financial Services Council (FSC) has called for the government to cap compensation claims over financial misconduct at "reasonable levels" so as not to create a "moral hazard".
More news
SMSF auditors in firing line
ELIZA BAVIN  |  FRIDAY, 14 FEB 2020
ASIC has cracked down on a number of auditors of self-managed super funds, which the regulator said have failed to meet their requirements.
Regulators praise super law reform
ELIZA BAVIN  |  FRIDAY, 14 FEB 2020
Australia's regulatory bodies have welcomed reforms to increase ASIC's role as a superannuation regulator.
JPMorgan admits to withholding ANZ shares
ELIZA BAVIN  |  FRIDAY, 14 FEB 2020
A JPMorgan executive has told the court that there was an agreement between JPMorgan, Deutsche Bank and Citigroup to withhold ANZ shares from the market.
Problems persist with PYSP communication: ASIC
ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
ASIC said that common problems have been persistent in its review of superannuation trustees' PYSP communication with members, with some trustees failing to present facts and instead focusing on member and insurance retention.
Compensation bill hits $750m
ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
Six of Australia's largest banking and financial services institutions have so far paid, or offered, a total of $749.7 million in compensation to customers, according to new data released by ASIC.
ACCC denies impropriety
ELIZA BAVIN  |  TUESDAY, 11 FEB 2020
The ACCC has denied acting with impropriety in bringing criminal cartel charges against Citigroup and Deutsche Bank.
Push for more foreign investment
ELIZA BAVIN  |  FRIDAY, 7 FEB 2020
The Australian government is being urged to promote more foreign investment in Australia.
AMP to pay $5m for churn
JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
The Federal Court has ordered AMP to pay $5.175 million for failing to ensure its financial advisers complied with the best interests duty by engaging in insurance churn.
Asset manager to be liquidated
ELIZA BAVIN  |  WEDNESDAY, 5 FEB 2020
Global Merces Funds Management has come to an end as the financial services company is set to be wound-up.
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