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Regulatory

Ascot Securities hit with infringement notice for 'serious failures'

ANDREW MCKEAN  |  THURSDAY, 20 JUN 2024
Ascot Securities was issued an infringement notice by the Markets Disciplinary Panel (MDP) in November last year for serious failures, resulting in a $3.1 million penalty and a requirement to enter an enforceable undertaking. However, Ascot chose not ...

Court freezes assets of Keystone AM managed fund

ELIZA BAVIN  |  THURSDAY, 20 JUN 2024
The financial regulator obtained interim orders from the Federal Court to freeze the assets of the Shield Master Fund.

ASIC calls out licensees: 'We will take action'

ELIZA BAVIN  |  THURSDAY, 20 JUN 2024
ASIC commissioner Alan Kirkland said the regulator was done warning licensees to lift their game.

Trustee boards fail to challenge unlisted valuations: APRA

JAMIE WILLIAMSON  |  THURSDAY, 20 JUN 2024
APRA says there is room for improvement when it comes to trustees' oversight of unlisted asset valuations.

ASIC appeals judge's call to not penalise Block Earner

JAMIE WILLIAMSON  |  TUESDAY, 18 JUN 2024
ASIC is appealing the Federal Court's recent decision to not issue a penalty to Block Earner after it was found to have provided unlicensed financial services.

Will ASIC use AI for advice compliance monitoring?

ANDREW MCKEAN  |  MONDAY, 17 JUN 2024
The rapid expansion of artificial intelligence (AI) applications in the financial advice industry has led to a prediction that ASIC could soon incorporate AI into its compliance and audit checks of advisers.

APRA updates industry on operational resilience guidance

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
CPS 230 will come into effect from 1 July 2025.

AFCA seeks industry feedback on approaches

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
The financial complaints authority is asking the industry for feedback on how it approaches issues and reaches decisions.

ASIC issues first stop order for crowd funding

ELIZA BAVIN  |  THURSDAY, 13 JUN 2024
In a first of its kind crackdown, the financial regulator has issued a stop order against a crowd-sourced funding platform.

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |  THURSDAY, 13 JUN 2024
The Super Members Council (SMC) has revived its predecessor's calls to extend anti-hawking legislation, slamming a sub-set of financial advisers using social media posts and cold calling to drum up business.