Search Results for: ASIC
ASIC imposes licence condition on OpenMarkets Australia Limited
December 13th, 2016
ASIC has imposed additional conditions on the Australian financial services licence of OpenMarkets Australia Limited (OpenMarkets). This action follows surveillance activities which identified concerns in OpenMarkets’: arrangements for identifying and preventing potential market misconduct (for example, inadequate automated filters ...
ASIC bans former ANZ Financial Planning adviser from financial services
December 12th, 2016
ASIC has banned Mr Andrew TambyRajah, a former employee of ANZ Financial Planning, from providing financial services for a period of five years. Mr TambyRajah, of Sydney, New South Wales was a financial planner with ANZ Financial Planning at ...
ASIC action sees BMW Australia Finance to repay $77 million to customers
December 6th, 2016
ASIC has accepted an Enforceable Undertaking (EU) from car financier, BMW Australia Finance Limited (BMW Finance), which will see BMW Finance implement Australia’s largest consumer credit remediation program to compensate customers for its responsible lending failures. BMW Finance provides ...
ASIC bans insurance broker director
November 30th, 2016
ASIC has permanently banned Christopher John Griggs from providing financial services. Mr Griggs was the sole director of Chris Griggs Insurance Offices Pty Ltd, an insurance broker based in Mount Pleasant, South Australia. ASIC found that Mr Griggs prepared ...
ASIC launches new digital toolkit to help Australians navigate financial advice
November 28th, 2016
A new online toolkit developed by ASIC’s MoneySmart will enable Australians to better understand and navigate the financial advice process. ASIC’s MoneySmart Financial Advice Toolkit is a free educational tool that breaks down the complexity around the financial advice ...
Another binary options trading website is in the sights ASIC
November 24th, 2016
ASIC wins orders against another website linked to binary options group Titan Trade Another binary options trading website operating in Australia is in the sights of the corporate regulator as part of its ongoing investigation into the alleged activities ...
ASIC updates licence conditions on Morgans Financial Limited
November 24th, 2016
ASIC and Morgans Financial Limited (Morgans) have agreed for an independent compliance consultant to monitor, evaluate and report on Morgan’s implementation of recommendations arising from an independent review of its compliance measures. The consultant completed its review of Morgans’ ...
ASIC commences civil penalty proceedings against State One Stockbroking
November 21st, 2016
ASIC has commenced civil penalty proceedings against State One Stockbroking Ltd (State One) in the Federal Court of Australia in Perth for failing to comply with two ASIC Market Integrity Rules (ASX Market) 2010 (MIRs), following State One’s failure ...
ASIC bans former AMP Financial Planning representative from providing financial services for eight years
November 18th, 2016
ASIC has banned Mr James Edward McCarthy, a financial adviser from South Australia, from providing financial services until 14 November 2024. Mr McCarthy is the sole director of McCarthy Financial Solutions Pty Ltd and was an authorised representative of ...
Cash Converters to pay over $12M following ASIC probe
November 9th, 2016
Following an ASIC investigation, payday lender Cash Converters will refund $10.8 million to consumers who received small amount loans under approximately 118,000 small amount credit contracts. Cash Converters has paid a $1.35 million penalty following the issuing of infringement ...
