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APRA proposes updated operational risk financial requirements

ANDREW MCKEAN  |  TUESDAY, 20 FEB 2024
The Australian Prudential Regulation Authority (APRA) has proposed changes to operational risk financial requirements for registrable superannuation entities (RSE) licensees.

ANZ gets green light for Suncorp merger

CHLOE WALKER  |  TUESDAY, 20 FEB 2024
ANZ has had a significant legal win on appeal, with its proposed $4.9 billion acquisition of Suncorp's banking arm given the go-ahead.

VanEck failed to disclose influencer's role in ETF launch: SEC

JAMIE WILLIAMSON  |  MONDAY, 19 FEB 2024
VanEck will pay US$1.75 million ($2.7m) to settle a case brought by the Securities and Exchange Commission, which alleged the investment manager failed to disclose the involvement of an influencer in the launch of an ETF in 2021.

Commonwealth Bank slapped with $10.3m fine for wage theft

ANDREW MCKEAN  |  FRIDAY, 16 FEB 2024
Commonwealth Bank was fined $10.3 million by the Federal Court for its involvement in wage theft which led to $16 million in underpayments to over 7400 workers.

ASIC files lawsuit against unlicensed director, companies

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2024
The corporate regulator filed a lawsuit against a Queensland man who allegedly deceived people he knew into handing over $100 million to invest in companies he owned without a financial services licence.

Former director pleads guilty to hedge fund con

JAMIE WILLIAMSON  |  WEDNESDAY, 14 FEB 2024
The former director of Reiwa-Capital is facing possible jail time and a hefty fine after he convinced people to hand over more than $400,000 for the purpose of investing before spending it all elsewhere and paying back just 1% of the total to investors.

Jailed adviser permanently banned by ASIC

JAMIE WILLIAMSON  |  TUESDAY, 13 FEB 2024
A former financial adviser who was jailed for stealing more than $1 million from his clients' superannuation to feed a gambling problem is now permanently banned from the industry.

Crypto fintech needed AFSL, court says

JAMIE WILLIAMSON  |  MONDAY, 12 FEB 2024
ASIC has had its first court win in relation to cryptocurrency, with fintech Block Earner found to have offered a financial product to retail investors without a licence. However, it was a mixed outcome for the regulator, with another allegation quashed.

ASIC issues interim stop orders against Keystone

JAMIE WILLIAMSON  |  THURSDAY, 8 FEB 2024
Keystone Asset Management has been told to stop offering the Shield Master Fund due to concerns about misleading statements and inadequate disclosures in the fund's documentation.

Brite Advisors to be wound up

CHLOE WALKER  |  WEDNESDAY, 7 FEB 2024
The Federal Court has ordered Brite Advisors (Brite) to be wound up on just and equitable grounds following an application by ASIC.