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Regulatory

ASIC issues interim stop orders against Keystone

JAMIE WILLIAMSON  |  THURSDAY, 8 FEB 2024
Keystone Asset Management has been told to stop offering the Shield Master Fund due to concerns about misleading statements and inadequate disclosures in the fund's documentation.

Brite Advisors to be wound up

CHLOE WALKER  |  WEDNESDAY, 7 FEB 2024
The Federal Court has ordered Brite Advisors (Brite) to be wound up on just and equitable grounds following an application by ASIC.

SMSF scammers charged with criminal offences

KARREN VERGARA  |  WEDNESDAY, 7 FEB 2024
A duo who allegedly defrauded self-managed super funds (SMSF) have been charged by the Melbourne Magistrates Court with a string of criminal offences.

Unlicensed crypto investor faces jail time

CHLOE WALKER  |  TUESDAY, 6 FEB 2024
A Queensland man has been charged with nine offences and is facing imprisonment for running a financial services business without a licence.

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN  |  FRIDAY, 2 FEB 2024
ASIC deputy chair Sarah Court has reaffirmed that the corporate regulator is targeting member service failures, greenwashing, and inappropriate fees and charges, cautioning the superannuation industry to lift its game.

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
APRA has confirmed it will conduct a "deep dive review" of funds' exposures to unlisted assets later this year.

Westpac loses Ausgrid rate swap case

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
The banking giant was found to have engaged in unconscionable conduct in the interest rate swap case borne out of AustralianSuper and IFM Investors' acquisition of part of Ausgrid in 2016.

Gender pay gap reporting to be scrutinised

ROSE MARY PETRASS  |  WEDNESDAY, 31 JAN 2024
From tomorrow, Australian companies with 100 or more staff must publish the median pay gap between their male and female employees. While it sounds simple enough, some experts believe businesses are not prepared for what's to come.

ASIC files contempt orders against repeat offender

CHLOE WALKER  |  MONDAY, 29 JAN 2024
ASIC has filed a contempt application in the Federal Court against former Wealth & Risk Management (WRM) director Joshua David Fuoco.

ASIC makes adviser exam changes

JAMIE WILLIAMSON  |  THURSDAY, 25 JAN 2024
ASIC confirmed it is amending the financial adviser exam in accordance with the government's changes.