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Responsible entity fined $2m
ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
A court has found Theta Asset Management and its managing director contravened the Corporations Act on multiple occasions in authorising the issues of five defective Product Disclosure Statements (PDSs).
APRA reduces CBA capital requirement
ANNABELLE DICKSON  |  FRIDAY, 20 NOV 2020
The Australian Prudential Regulation Authority (APRA) has made the decision to reduce Commonwealth Bank's additional capital requirement by half after improving governance concerns.
Why has ASIC still not got a chief executive?
KANIKA SOOD  |  THURSDAY, 19 NOV 2020
ASIC senior staff including James Shipton resisted moving to a stronger internal governance structure, its acting chair Karen Chester has told the ASIC expenses enquiry.
Funds management in ASIC spotlight
ELIZA BAVIN  |  THURSDAY, 19 NOV 2020
The review of competition in the Australian funds management industry is officially underway between the corporate regulator and Deloitte Access Economics.
Shipton's tax bill under scrutiny
ELIZABETH MCARTHUR  |  WEDNESDAY, 18 NOV 2020
The Australian National Audit Office (ANAO) has answered questions in regards to the remuneration of ASIC chair James Shipton and former deputy chair Daniel Crennan.
ASIC charges BitConnect Australia lead
ELIZA BAVIN  |  WEDNESDAY, 18 NOV 2020
The former BitConnect Australian national promoter has been charged by ASIC for operating an unregistered investment scheme and making false statements.
Former adviser pleads guilty to stealing client funds
ELIZA BAVIN  |  WEDNESDAY, 18 NOV 2020
A former financial adviser has pleaded guilty to misappropriating $2.9 million of client funds by transferring the money to his own accounts for personal use.
ASIC sounds the alarm on buy-now-pay-later
KANIKA SOOD  |  MONDAY, 16 NOV 2020
One in five users of buy-now-pay-later services are missing payments, as the industry almost doubles its lending, according to ASIC's latest review of the sector.
Former Financial Circle director charged
ELIZA BAVIN  |  MONDAY, 16 NOV 2020
Former Financial Circle director Joshua Fuoco has been charged with managing a corporation whilst disqualified.
APRA eases hard caps in revamped executive pay
KANIKA SOOD  |  THURSDAY, 12 NOV 2020
A new draft of APRA's remuneration guidelines has scrapped its original plan to cap financial measures' contribution to executives' variable remuneration at 50%.
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