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Regulatory

Court appoints receivers to Keystone, Master Shield Fund

MATTHEW WAI  |  MONDAY, 9 SEP 2024
The Federal Court has appointed new receivers and administrators to Keystone Asset Management, as ASIC attempts to identify where more than $100 million of investors' money has gone.

Melbourne adviser sentenced to 18 months' prison

ELIZA BAVIN  |  FRIDAY, 6 SEP 2024
A former financial adviser has been convicted by the County Court of Victoria on three counts of dishonest conduct.

APRA alleges First Super co-chair breached director duties

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2024
First Super co-chair Michael O'Connor has stepped down following allegations by APRA that he breached his duties as a director in relation to a contract between the fund and the Construction, Forestry and Maritime Employees Union (CFMEU).

ASIC cancels AFSL of foreign exchange contracts issuer

ELIZA BAVIN  |  THURSDAY, 5 SEP 2024
ASIC has cancelled the AFSL of foreign exchange contracts issuer FXOpen AU after an investigation identified "serious concerns".

Former Courtenay House director sentenced

MATTHEW WAI  |  TUESDAY, 3 SEP 2024
Former Courtenay House director Tony Iervasi has been sentenced to prison for 11 years, with a non-parole period of seven years, for his involvement in one of the nation's biggest Ponzi schemes.

Consultation begins on new merger notification thresholds

ANDREW MCKEAN  |  MONDAY, 2 SEP 2024
The government has begun consultation on proposed changes to merger notification thresholds as part of broader reforms designed to boost competition and productivity.

CLSA penalised over data mistakes

MATTHEW WAI  |  FRIDAY, 30 AUG 2024
CLSA Australia paid a penalty of $144,300 in relation of an infringement notice for failing to provide correct regulatory data to the relevant market operator.

ASIC launches new AFSL portal

ELIZA BAVIN  |  THURSDAY, 29 AUG 2024
A select few will be given access to the new portal as the regulator tests the new streamlined approach.

APRA reorganises as it sets sights on superannuation

ELIZA BAVIN  |  WEDNESDAY, 28 AUG 2024
APRA will execute an internal restructure to better support its goals to maintain the integrity of Australia's super, banking and insurance sectors.

Former Brisbane adviser found guilty of fraud again

MATTHEW WAI  |  MONDAY, 26 AUG 2024
A former financial adviser who won a retrial after being convicted of fraud in 2019 has once again been found guilty of misleading clients to invest their retirement savings in a single abalone farm that went bust.