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|Treasurer Josh Frydenberg has announced a major crackdown on foreign investment in Australia, including new overriding "last resort powers" which will allow him to force foreign divestment in exceptional cases.|
|Westpac has confirmed 38 staff copped a range of remuneration consequences as a result of the bank's investigations into the AUSTRAC scandal.|
|Keybridge Capital has launched legal proceedings against Wilson Asset Management, alleging WAM improperly transferred Keybridge shares into its own name.|
|Liberal MP Tim Wilson has asked to recall ME Bank to the House of Representatives Standing Committee on Economics after correspondence with ASIC for a hearing later this week.|
|ASIC has cancelled the Australian financial services licenses of Western Australia-based, Personal Risk Management and Melbourne-based Australian Golden Securities|
|Australia's reluctance to adopt employee share schemes will be the subject of a public enquiry, with the aim of breathing new life into such schemes.|
|ASIC has banned three directors of Linchpin Capital Group - Ian Williams, Peter Daly and Paul Raftery.|
|ASIC has cancelled the ASFLs of two NSW-based financial service providers.|
|The Australian Financial Complaints Authority (AFCA) has received over 3180 COVID-19 related financial complaints since the pandemic was declared in March, with more than 600 directed at superannuation funds.|
|Ares Management LLC, which has a joint venture with Challenger's Fidante Partners in Australia via a related company, has paid US$1 million to settle charges alleging it traded in a portfolio company based on non-public information while an employee ...|
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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