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Regulatory

Stop orders placed on property funds

CHLOE WALKER  |  WEDNESDAY, 14 SEP 2022
ASIC has placed interim stop orders on made interim stop orders on two property funds after failings with their target market determinations (TMDs).

UK regulator flags big redress bill likely for Link

JAMIE WILLIAMSON  |  WEDNESDAY, 14 SEP 2022
The UK's Financial Conduct Authority (FCA) has approved Dye & Durham's takeover of Link Group, but the acquisition may be hindered by potential redress payments of more than $500 million over Link's involvement with the LF Woodford Equity Income Fund.

APRA to modernise regulatory frameworks

ANDREW MCKEAN  |  TUESDAY, 13 SEP 2022
APRA has outlined plans for its multi-year program to modernise the architecture of prudential standards for banks, insurers, and super funds.

Charges laid against former BBY head of operations

CASSANDRA BALDINI  |  TUESDAY, 13 SEP 2022
Former BBY Limited head of operations Fiona Mae Bilton has been charged with three counts of dishonestly obtaining a financial advantage.

ACCC approves Dye & Durham, Link deal

JAMIE WILLIAMSON  |  FRIDAY, 9 SEP 2022
The Australian Competition and Consumer Commission will not oppose Dye & Durham's acquisition of Link Group, provided Dye & Durham divests its existing Australian businesses.

ABN AMRO Clearing pays $222k penalty

ANDREW MCKEAN  |  THURSDAY, 8 SEP 2022
ABN AMRO Clearing Sydney has paid a penalty of $222,000 to comply with an infringement notice given by the Markets Disciplinary Panel (MDP).

ASIC concerns see 18 funds update advertising materials

JAMIE WILLIAMSON  |  THURSDAY, 8 SEP 2022
ASIC surveillance of managed funds' marketing materials has found several instances of inadequate warnings or disclaimers related to performance and downplaying of risks, leading 13 providers to make amendments.

ASIC bans Sterling & Freeman director

ANDREW MCKEAN  |  WEDNESDAY, 7 SEP 2022
ASIC has banned Wayne Christopher Saman, the sole director of Sterling & Freeman Advisory for a period of five years.

APRA aims to bolster financial crisis response

CASSANDRA BALDINI  |  WEDNESDAY, 7 SEP 2022
APRA has begun consulting on new prudential standards to strengthen the financial crisis response of banks, insurers and superannuation trustees.

Final Royal Commission reforms to be tabled, YFYS review begins

JAMIE WILLIAMSON  |  WEDNESDAY, 7 SEP 2022
The final raft of legislative reform resulting from the Royal Commission will be introduced to parliament this week and consultation on the review of the Your Future, Your Super regime has commenced, minister for financial services Stephen Jones confirmed ...