All posts tagged "ASIC"
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299Australia & NZClearView Completes Advice Remediation Programme
Financial compensation totalling A$730,000 was offered to 215 clients who were harmed by poor advice, while another 21 clients received non-financial remediation.
September 20, 2019 -
706AML / KYC
UPDATED – ASIC, Federal Police Dismantle Online Fraud Syndicate
The syndicate is said to have used fraudulently-obtained identities to steal millions of dollars from the superannuation and share trading accounts of innocent victims.
September 18, 2019 -
197Australia & NZ
Australia Passes Bill to End Conflicted Remuneration Despite Pushback
The Association of Financial Advisers says thousands of clients will be worse off without grandfathered commissions, and that financial advisers need more time to adjust.
September 17, 2019 -
380Australia & NZ
ASIC Bans Lending Model Found to Cause Consumer Detriment
ASIC is using its product intervention power to end a practice that has to date enabled payday lenders to charge fees up to 1000% of the loan amount.
September 14, 2019 -
293Australia & NZAFCA to Start Naming Financial Firms in October
The move is aimed at increasing transparency and accountability in the financial sector, which will also enhance consumer confidence.
September 13, 2019 -
324Australia & NZ
ASIC Issues Second Update on Response to Royal Commission
Of 105 investigations and court actions underway against financial institutions at the end of July, 86 related to the big four banks and AMP.
September 13, 2019 -
222Australia & NZ
ASIC Extends Licensing Relief for Foreign Firms Ahead of New Regime
The extension of licensing relief allows foreign financial services providers just over six months to decide whether they will apply for the new foreign AFS licence.
September 12, 2019 -
214Australia & NZASIC to Appeal Westpac Responsible Lending Case Dismissal
ASIC says last month’s federal court’s ruling in favour of Westpac creates uncertainty as to what is required for a lender to comply with its loan assessment obligations.
September 11, 2019 -
297Australia & NZ
ASIC Sues Regional Banks Over Unfair Loan Contracts
ASIC says the terms in Bank of Queensland and Bendigo and Adelaide Bank loan contracts could cause detriment to small businesses.
September 5, 2019 -
487Australia & NZ
ASIC Focuses on Misconduct in Four-Year Corporate Plan
ASIC will expand its use of behavioural sciences, data and technology and position itself as a more strategic and agile regulator.
August 29, 2019
