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APRA intensifies scrutiny of underperformers

KARREN VERGARA  |  FRIDAY, 10 SEP 2021
The prudential regulator is cracking down further on the superannuation funds that failed the performance test, chair Wayne Byres warned this morning.

AustralianSuper skewers draft disclosure laws

JAMIE WILLIAMSON  |  MONDAY, 6 SEP 2021
The draft legislation on superannuation portfolio holdings disclosure is not in the best financial interests of members and only stands to serve rival fund managers to whom the reforms don't apply, according to AustralianSuper.

ASIC red tape unit welcomed

ANNABELLE DICKSON  |  WEDNESDAY, 1 SEP 2021
The government has welcomed the corporate regulator's plan to establish a unit with the sole aim of reducing regulatory costs for businesses and consumers.

Plan to increase competitiveness of managed funds

ELIZABETH MCARTHUR  |  MONDAY, 30 AUG 2021
The federal government is rolling out its plan to increase the international competitiveness of Australia's managed funds sector.

Former adviser hit with criminal charges

KARREN VERGARA  |  MONDAY, 30 AUG 2021
After breaching his ASIC banning order, a former financial adviser is facing criminal charges.

APRA outlines remuneration standard

ANNABELLE DICKSON  |  FRIDAY, 27 AUG 2021
The prudential regulator released its final standard for remuneration across superannuation, banking and insurance which could see individuals lose their bonus in the event of poor risk conduct.

ASIC to ease hardline stance

KARREN VERGARA  |  FRIDAY, 27 AUG 2021
The federal government is expecting ASIC to tone down its regulatory powers even though the Hayne Royal Commission exposed its ineffectiveness at enforcing corporate law.

NAB fined $18.5m over misleading fee disclosure

JAMIE WILLIAMSON  |  THURSDAY, 26 AUG 2021
The big four bank has been ordered by the Federal Court to pay $18.5 million for misleading fee disclosure statements in relation to personal financial advice - well short of the penalty ASIC was pushing for.

ASIC outlines corporate plan

ANNABELLE DICKSON  |  THURSDAY, 26 AUG 2021
The corporate regulator will be focusing on economic recovery, reducing consumer harm, cyber security and industry compliance over the next four years in order to strengthen the financial system.

Westpac cops $10.5m fine

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
ASIC has ordered Westpac to pay a $10.5 million fine after the High Court's decision that found two Westpac subsidiaries provided unlicensed personal financial advice.