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Regulatory

Expect more greenwashing action: ASIC

RACHEL ALEMBAKIS  |  FRIDAY, 3 MAR 2023
The court case against Mercer Superannuation for allegations of greenwashing is "just one of the investigations on foot", ASIC chair Joe Longo said.

ASIC bans mortgage broker for eight years

KARREN VERGARA  |  MONDAY, 27 FEB 2023
An unlicensed mortgage broker who misled superannuation fund members about property investing has been banned from working in financial services for eight years.

Unlicensed investor pleads guilty to fraud charges

CHLOE WALKER  |  FRIDAY, 24 FEB 2023
Former Orb Global Investments chief executive Akhilesh Kamkolkar has pleaded guilty to charges relating to $1 million of investor money he spent for himself.

Regulators sound alarm on cybersecurity, fraud in super

ANDREW MCKEAN  |  FRIDAY, 24 FEB 2023
At the annual Association of Superannuation Funds of Australia conference, financial services regulators detailed their top priorities, including cybersecurity threats and fraud in the super industry.

ASIC questioned over workplace culture

CASSANDRA BALDINI  |  THURSDAY, 23 FEB 2023
ASIC has been asked if its culture is toxic following the Treasury investigation into deputy chair Karen Chester.

Advice group convicted of hawking

JAMIE WILLIAMSON  |  WEDNESDAY, 22 FEB 2023
National Advice Solutions was convicted in a Queensland court for cold-calling consumers and trying to convince them to switch their super fund, copping a $70,000 fine.

ASIC cracks down on CHESS issues

KARREN VERGARA  |  WEDNESDAY, 22 FEB 2023
ASIC is further clamping down on the ASX to ensure that it successfully comes through on replacing CHESS after botching its attempt to overhaul it with blockchain.

Financial Circle director convicted, fined

CHLOE WALKER  |  TUESDAY, 21 FEB 2023
A director of the now defunct financial services firm has been convicted of managing a corporation and fined $6000.

ASIC dodges PGPA investigation questioning

CASSANDRA BALDINI  |  THURSDAY, 16 FEB 2023
At a hearing this morning, Senator Andrew Bragg called out ASIC chair Joe Longo after he opted not to answer questions about ASIC commissioners investigated under the Public Governance Performance and Accountability (PGPA) Act.

Former Big Un chief charged with insider trading

CASSANDRA BALDINI  |  WEDNESDAY, 15 FEB 2023
Richard Evans could face up to 10 years in prison following ASIC allegations that he communicated inside information about the former ASX-listed company.