| | FRIDAY, 14 FEB 2020 12:40PMThe 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".|
|ASIC has cracked down on a number of auditors of self-managed super funds, which the regulator said have failed to meet their requirements.|
|Australia's regulatory bodies have welcomed reforms to increase ASIC's role as a superannuation regulator.|
|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.|
|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.|
|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.|
|The ACCC has denied acting with impropriety in bringing criminal cartel charges against Citigroup and Deutsche Bank.|
|The Australian government is being urged to promote more foreign investment in Australia.|
|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.|
|Global Merces Funds Management has come to an end as the financial services company is set to be wound-up.|
An activist short seller that accused an ASX-listed agricultural fund of running "scams" was dealt a blow in a Supreme Court judgment handed down yesterday.
The $55 billion industry fund is hiking the cost of its standard insurance cover for most of its members, with those aged 55 to 64 years to be the worst hit.
A former Macquarie Group financial adviser has been permanently banned from the industry, following an ASIC investigation into the adviser's "dishonest" and "misleading" behaviour.
It's the end of the road for a BT multi-asset fund managed by Pendal after 52 years, as investor demand ebbs out.
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