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Regulatory

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024   12:51PM
Licensees are generally slow to report to ASIC because of deficient internal processes and poor monitoring of compliance with the reportable situations regime, a review found.

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Trustees, advisers have 'insufficient focus' on performance

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
ASIC commissioner Alan Kirkland said superannuation trustees and advisers do not put enough focus on persistently underperforming investment options.

Half of advice, super complaints result in no remedy

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
ASIC has released its first publication of industry-wide data reported under the internal dispute resolution data reporting framework.

Regulators warn of possible issues with FAR reporting

ELIZA BAVIN  |  THURSDAY, 28 NOV 2024
ASIC and APRA have sent a letter to superannuation trustees reminding them of their obligations under the Financial Accountability Regime before it applies to them come March 2025.

Illegal investment scheme operator to pay $1.25m

ELIZA BAVIN  |  THURSDAY, 28 NOV 2024
The Federal Court has ordered Sasha Hopkins to pay $1.25 million and be disqualified for four years.

BlackRock, State Street, Vanguard sued over climate stance

JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2024
Texas and 10 other Republican-led states are suing BlackRock, State Street and Vanguard, saying their climate activism violated antitrust laws and caused reduced coal production and higher energy prices.

Macquarie fined $25m over 400 fake trades

MATTHEW WAI  |  WEDNESDAY, 27 NOV 2024
The UK's Financial Conduct Authority (FCA) has fined Macquarie Bank's London Branch (MBL) $25 million (£13m) for enabling one of its employees to record over 400 fictitious trades over a 20-month period.

ASIC flags regulatory guide updates for 2025

ELIZA BAVIN  |  TUESDAY, 26 NOV 2024
ASIC said it will consult with stakeholders to update some key regulatory guides for managed investments.

Former Western AM investment chief charged for 'cherry-picking'

MATTHEW WAI  |  TUESDAY, 26 NOV 2024
The Securities and Exchange Commission (SEC) has charged former Western Asset co-chief investment officer Ken Leech for "engaging in a multi-year scheme to allocate favourable trades to certain portfolios."

Adviser suspended over wrongful use of ROAs

JAMIE WILLIAMSON  |  MONDAY, 25 NOV 2024
A Matrix Planning Solutions adviser is suspended from providing advice for the next three months after failing to supply Statements of Advice (SOAs) where required.
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