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Regulatory

Half of all AFSL applications approved

ELIZABETH MCARTHUR  |  MONDAY, 16 DEC 2019
ASIC revealed just 53% of AFSL applications received this year were approved.

CBA underpayments reach $53 million

ELIZA BAVIN  |  MONDAY, 16 DEC 2019
The Commonwealth Bank of Australia will commence payments of a further $14.9 million as employee underpayments surpass $53 million.

ASIC winds up alleged unregistered scheme

ELIZA BAVIN  |  FRIDAY, 13 DEC 2019
ASIC has taken steps to wind up an unregistered managed investment scheme.

ASIC urges improved insurance outcomes

ELIZA BAVIN  |  FRIDAY, 13 DEC 2019
ASIC has called on the superannuation industry to improve consumer outcomes in relation to life insurance provided through superannuation.

Pershing Securities breaches client money obligations

ALLY SELBY  |  WEDNESDAY, 11 DEC 2019
Pershing Securities Australia has been charged after breaching client money obligations.

APRA slaps extra conditions on Avanteos

HARRISON WORLEY  |  WEDNESDAY, 11 DEC 2019
The prudential regulator has hit Colonial First State's Avanteos Investments with additional licence conditions for charging fees to thousands of dead superannuation members.

ASIC launches action against AFSL, director

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
ASIC has commenced action in the Federal Court in Western Australia focused on the promotion and management of the Sterling Income Trust.

ASIC lifts ban on new opaque active ETFs

KANIKA SOOD  |  WEDNESDAY, 11 DEC 2019
Fund managers will be allowed to list new non-transparent active ETFs, as ASIC lifts the pause after a six-month-long review.

ASIC suspends Melbourne-based AFSL

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
ASIC has suspended the AFSL of Melbourne-based financial services provider Australian Golden Securities until May 2020.

IOOF, ANZ transaction gets green light

ELIZA BAVIN  |  TUESDAY, 10 DEC 2019
APRA has approved IOOF's application to purchase ANZ's superannuation business.