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The Corporate Regulator has commenced civil penalty action in the Federal Court against Firstmac Limited for alleged breaches of the design and distribution obligations. In an online update, ASIC said
ASIC has commenced the first ever court case against a financial product distributor for alleged breaches of design and distribution obligations (DDO).
ASIC has commenced civil penalty action in the Federal Court against a financial product distributor for alleged breaches of the design and distribution obligations (DDO). The corporate regulat
ASIC surveillance of managed funds' marketing materials has found several instances of inadequate warnings or disclaimers related to performance and downplaying of risks, leading 13 providers to make amendments.
Perpetual, BetaShares and Collins St Asset Management and 10 other firms failed to properly disclose risks and performance information.