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|APRA has delegated some of its enforcement powers to the corporate watchdog, as the two agencies continue their investigations into AUSTRAC's allegations against Westpac.|
|ASIC has explained how it plans to tackle products and distribution linked remuneration structures in the event it believes they will bring about significant consumer detriment.|
|The prudential regulator has updated Authorised Deposit-taking Institutions (ADIs) on their requirements to revalue property in the wake of the COVID-19 downturn.|
|The Australian Securities and Investment Commissions has asked 13 managed funds to fix their advertising, and is threatening the wider sector with enforcement action for misleading claims.|
|The Australian arm of a global investment management company has agreed to additional conditions imposed on its AFSL by the corporate watchdog.|
|Five people and six offshore entities have been charged over an alleged fraudulent scheme which sought to capitalise on the COVID-19 pandemic through the illegal sale of microcap stocks.|
|The Australian Taxation Office has announced a streamlined approach for tax time to allow people to easily claim tax deductions for work from home arrangements.|
|While other legislation and regulatory work was delayed as a result of COVID-19, ASIC was recently granted the power to receive intercepted information, such as tapped phone calls.|
|A Californian penny stock trader is in trouble with the law after he claimed a company he was trading stocks in had developed a special COVID-19 test.|
|ASIC has trumped the Commonwealth Bank for failures in its AgriAdvantage Plus Package, with the Federal Court of Australia ordering the bank to cough up a $5 million penalty.|
There is a good chance the planned superannuation guarantee increase to 12% will be deferred again as the nation continues to struggle with the effects of COVID-19, according to Mercer senior partner David Knox.
BetaShares' ETF that tracks crude oil futures is once again changing the length of contracts it tracks and is taking extra measures to automatically convert the ETF to all cash if oil futures drop significantly again.
The global fund manager saw its profits tumble 196% following net outflows of close to $19 billion in the first half of this year, resulting in heavy hits to fee and commission income.
Chi-X TraCRs and funds will now be offered on a privately owned wealth management platform, granting financial advisers and their clients access to some of the world's biggest listed companies.
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