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Financial Standard

The Financial Planning Association and the Australian Securities and Investments Commission both agree that grandfathered advice commissions are of little value to the consumer.

In their submission to the Royal Commission, the corporate regulator indicated that the annual review was sufficient for ongoing service fees ...

By Kwame Slusher



* This article has been republished with the permission of the author from his weekly publication, Today's Reaserach. 


by Bob Murray, Principal, Fortinberry Murray

A cycle of bullying begetting bullies seen in childhood has now been shown to hold good in the workplace. New research, carried out in the healthcare sector but with important im...

By Kwame Slusher

Thursday 10 May 2018


to help fight financial crime    

*This article was originally published in the GRC Professional: Financial Crime 2018.  


In December last year, Bureau Van Dijk held their breakfast seminar, Exposing Financial Crime: Know who you are doing business with

The event provided an opportunity to reiterate the importance of knowing your custo...

By Kwame Slusher

Thursday 10 May 2018




 the right to have personal data erased


Image Credit: EY Fraud Survey 1
 
According to the 15th EY Global Fraud Survey, those aged under 35s are more likely to assert their right to have their data erased than those aged over 35.

The EY Report said that: “This may be explained by under 35s’ more intensive use of e-commerce and social ...

By Kwame Slusher

 
Financial Review 

The Australian Financial Review has reported widespread ageism in the ‘big four’ partner firms, with some older employees being subjected to unlawful forced retirements; however, nothing has been done because partners are ‘too scared’ to complain.

Former Age Discrimination Commissioner Susan Ryan said partners want to be pi...

By Kwame Slusher

Wednesday 9 May 2018





Money Management

The Commonwealth Bank of Australia has settled with the Australian Securities and Investments Commission (ASIC) and will pay $25 million.

This would be for the five occasions between February and June 2012. According to Money Management, CBA will also admit that at the time it did not have adequate systems and policies...

By Kwame Slusher

Monday 7 May 2018



Regulation 

Could identifying the ultimate beneficial owner be easier in 2020?

It is well-known that identifying ultimate beneficial ownership presents a significant challenge to business. Unfortunately, it can—and has—taken major data leaks to reveal complexed trust lineages.

The Australian Securities and Investment Commission (ASIC) Re...

By Kwame Slusher



Risk Culture


Findings from the Prudential Inquiry into the Commonwealth Bank of Australia (CBA) show systemic challenges may have arisen from a system too dulled by success and an overly-collegiate atmosphere that made it unable to see red flags.

While this Report is about CBA, this prudential inquiry has implications for other financial in...

By Kwame Slusher

Thursday 3 May 2018



Penalties 


Proceedings against Rio Tinto (RTL) have been expanded to include the former CEO, Thomas Albanese, and the former CFO, Guy Eliot, for engaging in misleading and deceptive conduct.

In October last year, the UK Financial Conduct Authority fined RTL £27,385,400 for breaching transparency disclosure rules as a result of failures to c...

By Kwame Slusher

Thursday 3 May 2018




Financial Review

The ASX Governance Council is to update their governance code for the first time since 2014, in response to AMP’s conduct as highlighted by the Royal Commission.

Dominic Steven, ASX CEO, said it is possibly a good thing that this conduct is coming to light because it represents an opportunity to make things better.

Ac...

By Kwame Slusher