The additional licence conditions require four Insignia trustees to improve their governance and risk management practices, processes and frameworks.
November 4, 2022The guidance follows Australia's first Federal Court judgment ruling that an AFS licensee breached its obligations on managing cyber risk.
May 20, 2022The ruling is the first of its kind in Australia, and follows cyber incidents that occurred at authorised representatives of RI Advice between 2014 and 2020.
May 6, 2022Under the framework, 11 large financial firms will be required to report internal dispute resolution data to ASIC for the first time by 28 February 2023.
April 1, 2022About 60% of choice products and 45% of MySuper products delivered returns below benchmarks. APRA will further intensify its supervision on trustees delivering sub-standard member outcomes.
December 17, 2021In a statement, IOOF said that the advice file reviews highlighted by ASIC were already part of its existing remediation programmes of work.
May 3, 2021To use the emergency capital raising measures, companies must now satisfy ASX that they are raising capital predominantly to address a Covid-19 related impact.
September 17, 2020Two separate rulings against Maxi EFX and IOOF-owned RI Advice clarify obligations for those who receive ASIC notices requiring them to produce documents.
September 14, 2020ASIC is seeking orders requiring RI Advice Group to pay a civil penalty and ensure it implements systems to adequately manage cyber risk.
August 24, 2020A Quinn Emanuel class action "was no longer in the interests of group members to continue" following last year's dismissal of APRA's lawsuit against IOOF.
May 26, 2020