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Regulatory

Instos begin litigation against Volkswagen

DARREN SNYDER  |  FRIDAY, 24 JUN 2016
A firm with Australian origins is leading the funding for institutional investor litigation against Volkswagen AG, with the first of two suits filed in Germany this week.

ASIC takes Macquarie to court over van Eyk fund

ALEX BURKE  |  THURSDAY, 23 JUN 2016
ASIC has commenced proceedings against Macquarie Investment Management in the Supreme Court of New South Wales.

APRA outlines plans to refocus Appointed Actuary role

MARK SMITH  |  WEDNESDAY, 22 JUN 2016
The Australian Prudential Regulation Authority (APRA) has proposed improvements for the Appointed Actuary role within insurance companies.

ASIC puts culture top of mind

KERRIE SYDEE  |  WEDNESDAY, 22 JUN 2016
On the minds of governments, regulators, boards, executives and customers, ASIC chairman, Greg Medcraft, heralded culture to be "the new black".

AAT reduces adviser ban

KERRIE SYDEE  |  MONDAY, 20 JUN 2016
The Administrative Appeals Tribunal (AAT) has varied a decision by ASIC to ban a financial adviser for three years.

ASIC and Singapore regulator sign co-op agreement

ALEX BURKE  |  FRIDAY, 17 JUN 2016
ASIC and the Monetary Authority of Singapore (MAS) have signed a co-operative agreement to facilitate regulatory harmony between the two countries.

Former ANZ planner slapped with ban

KERRIE SYDEE  |  THURSDAY, 9 JUN 2016
ASIC has handed down a one year ban to a former ANZ planner after he was deemed not to be adequately trained or competent to provide financial services.

Regulatory sandbox exemption welcomed

KERRIE SYDEE  |  THURSDAY, 9 JUN 2016
ASIC has released a consultation paper on proposed further measures to accelerate innovation in Australian financial services, a move which has been welcomed by the fintech industry.

ASIC issues first "best interests" duty penalty

ALEX BURKE  |  THURSDAY, 9 JUN 2016
ASIC has taken its first action against a licensee for breaching the FoFA "best interests" duty showing that the reforms have come of age.

NAB responds to ASIC market manipulation allegations

ALEX BURKE  |  WEDNESDAY, 8 JUN 2016
NAB has responded to ASIC commencing legal proceedings for the bank's alleged "unconscionable conduct and market manipulation."