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Charles Schwab fails consumers, cops fine
KARREN VERGARA  |  TUESDAY, 22 DEC 2020
Charles Schwab UK has been fined $15.6 million for failing to protect consumers and lying to the regulator.
ASIC to review impact of ASX outage
KANIKA SOOD  |  TUESDAY, 22 DEC 2020
In 2021, ASIC will review how market participants adapted to the ASX's outage in November, and if they and the ASX violated their market operating licences.
Jail time for tax adviser
ELIZABETH MCARTHUR  |  TUESDAY, 22 DEC 2020
The Federal Court has sentenced a tax adviser to seven and a half months in prison and fined him $640,000.
APRA Connect to go live in 2021
KARREN VERGARA  |  TUESDAY, 22 DEC 2020
APRA has recommenced work on its data-collection project, which will go live in September 2021.
ASIC takes action against La Trobe Financial
ELIZABETH MCARTHUR  |  MONDAY, 21 DEC 2020
ASIC has commenced proceedings, seeking a civil penalty against La Trobe Financial, but the latter plans to fight the claims.
APRA hands down self-assessment report
KARREN VERGARA  |  MONDAY, 21 DEC 2020
The prudential regulator said it achieved a lot during a turbulent year to help minimise the impact of the pandemic, but acknowledged there is still room for improvement.
Missing Caddick's mansion on the line
ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
The Federal Court has appointed receivers to the property of self-proclaimed but unlicensed financial adviser Melissa Caddick, who has been missing for a month.
ASIC unveils school banking program review
KARREN VERGARA  |  WEDNESDAY, 16 DEC 2020
School banking programs are marketed as a force for good in the community, targeting vulnerable customers in young children who don't end up improving their financial management behaviour, ASIC's two-year review found.
ASIC takes action on Union Standard
KARREN VERGARA  |  TUESDAY, 15 DEC 2020
ASIC has commenced civil penalty proceedings against brokerage firm Union Standard International Group and its affiliates.
Australia bottoms out on fund disclosure
ANNABELLE DICKSON  |  TUESDAY, 15 DEC 2020
Australia has been given the lowest grade by a research house for being the only mutual fund market in the world that does not have regulated portfolio holdings disclosure.
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