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The director of investment manager Foxi Capital has been banned from providing financial services for eight years after it was found he lacked relevant qualifications and experience, and misled investors.
Deficiencies in its target market determination has seen interim stop orders placed on the Pivotal Diversified Fund offered by Vasco.
ASIC released its Corporate Plan for 2022-26 on 22 August 2022 followed by Mr Longo’s speech to the Committee for Economic Development of Australia (CEDA) where he revealed his vision for ASIC to be an “ambitious and confident regulator”, focused on the future.
The financial services regulator has revealed that product design and distribution and “market integrity” around sustainable finance will be key priorities in the years ahead.
The Australian Securities and Investments Commission has imposed its first design and distribution stop orders on three financial firms in response to deficiencies in the target market determination for their products.