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Regulatory

Disgraced former fund manager chief declared bankrupt

JAMIE WILLIAMSON  |  TUESDAY, 21 DEC 2021
The former chief executive of MFS Group - later known as Octaviar - has been declared bankrupt after he failed to pay a penalty to ASIC of $300,000.

Industry responds to heatmap findings

CHLOE WALKER  |  FRIDAY, 17 DEC 2021
Industry groups have labelled the APRA heatmaps a wake-up call to consumers about the importance of having their superannuation invested in a well performing fund, though there's still doubts as to the accuracy of the regulator's process.

APRA, ASIC provide annual update

CHLOE WALKER  |  THURSDAY, 16 DEC 2021
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have released their annual engagement update for 2021.

Prime Minister announces reverse mortgage scheme

ELIZABETH MCARTHUR  |  THURSDAY, 16 DEC 2021
Prime Minister Scott Morrison has confirmed a reverse mortgage scheme for pensioners.

OnePath Custodians sued over fees for no service

JAMIE WILLIAMSON  |  WEDNESDAY, 15 DEC 2021
Civil penalty proceedings have commenced in the Federal Court against OnePath Custodians for allegedly charging super fund members fees for no service, filed by ASIC.

ASIC bans two Sydney based advisers

CHLOE WALKER  |  WEDNESDAY, 15 DEC 2021
ASIC has banned the directors of Premier Wealth Management from providing financial advice, while also stripping the firm of its AFS licence.

ASIC takes 'ASX Wolf' to court

ELIZABETH MCARTHUR  |  TUESDAY, 14 DEC 2021
ASIC has taken action against Tyson Scholz, who offered his followers share trading tips on social media under the handle 'ASX Wolf'.

Longo's ASIC less aggressive: Report

ELIZABETH MCARTHUR  |  FRIDAY, 10 DEC 2021
Despite a flood of litigation following the Royal Commission, a new report from Herbert Smith Freehills says Joe Longo's ASIC is taking a less aggressive enforcement approach than its contemporaries.

Frydenberg pledges to move on crypto regulation

CHLOE WALKER  |  THURSDAY, 9 DEC 2021
Federal Treasurer Josh Frydenberg has outlined the government's plans to move forward with new crypto asset reforms in 2022.

ASIC sues ANZ in final civil RC case

JAMIE WILLIAMSON  |  THURSDAY, 9 DEC 2021
The big four bank is being sued by the regulator for failing to provide some of the benefits promised to customers who hold offset transaction accounts or 'Breakfree' packages in conduct dating back more than two decades.