Fees for no service is on the regulator’s crosshairs again with the with Asgard Capital Management ordered to pay a $3 million penalty.
This ruling comes just short of a year since the securities and conduct regulator commenced what would be its fourth enforcement action as it pertains to fees for service.
New Zealand General insurers might be struggling when it comes to dealing with the conduct and conduct risk and are not going to be prepared for the Financial Markets (Conduct of Institutions) Amendment Bill.
The bill is currently at its second reading in New Zealand Parliament.
In official statement from New Zealand’s Financial Markets...
The Australian Securities and Investments Commission (ASIC) this week released RG275 which provides guidance around customer information requirements for add-on insurance and the deferred sales model.
Deputy Chair Karen Chester said in an official statement this week, “This is a key Government reform aimed squarely at improving consumer ...
Two years since the Australian Securities and Investments Commission (ASIC) commenced proceedings against Tidswell, the federal court has found has failed to meet its obligations under s 912A(1)(a) of the Corporations Act 2001 (Cth).
According to the judgement from the Federal Court of Australia:
The Financial Markets Authority (FMA) and the Reserve Bank New Zealand (RBNZ) are consulting with industry about new legislation to protect the New Zealand’s financial system.
The two financial regulators are looking forfeedbackby 20 September.
This consultation is based on Financial Market Infrastructure Act which become law in May of t...
This week the securities regulator released protocols for the information sharing for financial advisers and mortgage brokers as well as assistance for these industries to comply with these protocols.
In an official statement the Australian Securities and Investments Commission (ASIC) said, “The reforms will promote bette...
Appeal Dismissed
The Queensland Court of Appeal has the dismissed an appeal by Kirrin Gore tried to appeal the November 2020 sentencing.
In an official statement from Australian Securities and Investments Commission (ASIC), “The Court of Appeal found it was open to the trial judge to convict on the six counts of fraud and that the evidence...
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