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Regulatory

ATO cracks down on ERS misuse

ELIZA BAVIN  |  MONDAY, 22 JUN 2020
The Australian Taxation Office (ATO) has cracked down on those misusing the Early Release of Superannuation scheme in a move that has been welcomed by the Industry Super Australia (ISA).

FIIG calls for taxation, regulatory overhaul

ELIZA BAVIN  |  FRIDAY, 19 JUN 2020
FIIG Securities has called on the government to impose structural changes to the Australian taxation system to see fixed income fairly promoted across all investor groups.

Judgement delivered in binary options fraud

ALLY SELBY  |  FRIDAY, 19 JUN 2020
The Federal Court of Australia has slapped a trading company with a $1.8 million fine, while two people have been barred from financial services for their involvement in the fraudulent binary options scheme.

APRA hands reins to ASIC in AUSTRAC case

ALLY SELBY  |  THURSDAY, 18 JUN 2020
APRA has delegated some of its enforcement powers to the corporate watchdog, as the two agencies continue their investigations into AUSTRAC's allegations against Westpac.

ASIC lays out product intervention plans

HARRISON WORLEY  |  THURSDAY, 18 JUN 2020
ASIC has explained how it plans to tackle products and distribution linked remuneration structures in the event it believes they will bring about significant consumer detriment.

APRA ditches property revaluation requirement

ELIZA BAVIN  |  THURSDAY, 18 JUN 2020
The prudential regulator has updated Authorised Deposit-taking Institutions (ADIs) on their requirements to revalue property in the wake of the COVID-19 downturn.

ASIC warns funds to clean up adverts

KANIKA SOOD  |  TUESDAY, 16 JUN 2020
The Australian Securities and Investment Commissions has asked 13 managed funds to fix their advertising, and is threatening the wider sector with enforcement action for misleading claims.

ASIC cracks down on investment manager

ALLY SELBY  |  MONDAY, 15 JUN 2020
The Australian arm of a global investment management company has agreed to additional conditions imposed on its AFSL by the corporate watchdog.

SEC charges COVID-19 microcap scammers

ALLY SELBY  |  FRIDAY, 12 JUN 2020
Five people and six offshore entities have been charged over an alleged fraudulent scheme which sought to capitalise on the COVID-19 pandemic through the illegal sale of microcap stocks.

ATO streamlines tax return process

ELIZA BAVIN  |  FRIDAY, 12 JUN 2020
The Australian Taxation Office has announced a streamlined approach for tax time to allow people to easily claim tax deductions for work from home arrangements.