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Showing 1 - 10 of 696 results for "Corporations Act"

Blockchain mining companies sued by ASIC

ANDREW MCKEAN  |  MONDAY, 15 APR 2024
... result, ASIC has filed proceedings against the NGS companies, alleging a contravention of sections 911A of the Corporations Act by providing financial services without an Australian Financial Services Licence (AFSL). ASIC is also seeking interim and ...

Why aged care advice needs tougher regulation

KARREN VERGARA  |  WEDNESDAY, 10 APR 2024
... delivery of aged care advice, enforcing and strengthening the oversight of personal advice that falls under the Corporations Act requirements is crucial to improving the outcome for older Australians and their families," she said. Aged Care Steps is ...

James Mawhinney applies to have ASIC's case struck out

ELIZA BAVIN  |  MONDAY, 8 APR 2024
... seeking injunctive relief against Mawhinney for dealing in financial products pursuant to section 1101B(1) of the Corporations Act. The claim also seeks to strike out three of the four representations relied upon by ASIC in its misleading or deceptive ...

Super advice fee deductions compound red tape: JAWG

KARREN VERGARA  |  MONDAY, 8 APR 2024
... compliance and administrative burdens. In introducing the bill before parliament, MP Andrew Keith said it amends the Corporations Act 2001 to streamline ongoing fee renewal and consent requirements into a single form, provide more flexibility for advice ...

Court rejects Provide Capital's 'illogical' application

KARREN VERGARA  |  WEDNESDAY, 3 APR 2024
... the formal investigation "under s 13 of the ASIC Act in relation to suspected contraventions of s 911A of the Corporations Act with respect to offering investment opportunities by Provide since 28 September 2020," court documents show. In late 2022 ...

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
... the income test of earning $250,000 for two consecutive years. This is regulated by section 761(G) s7 of the Corporations Act. "The complainant, on the other hand, said that was the incorrect test to apply and for that reason the financial firm couldn't ...

Tranche one of advice reforms hits parliament

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2024
... from the client. Recommendation 13.1, for example, should amend the conflicted remuneration provisions in the Corporations Act to explicitly provide that both monetary and non-monetary benefits given by a client to an AFS Licensee or a representative ...

Director facing $13k fine in first of its kind action from ASIC

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
... appeared in Downing Centre Local Court to be formally charged with one count of contravening section 1272C(1) of the Corporations Act 2001 by failing to have a director ID. An interim non-publication order (NPO) was granted by the court prohibiting the ...

Court dismisses ASIC lawsuit against Finder

KARREN VERGARA  |  FRIDAY, 15 MAR 2024
... that "ASIC has not established that the Finder Earn product is a debenture within the meaning of a s 9 of the Corporations Act." "As each of the contraventions of the Corporations Act alleged by ASIC is predicated on establishing that the Finder Earn ...

ASIC succeeds in conflicted remuneration case

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... financial adviser and the sole director of the SMSF Club. ASIC believes that SMSF Club contravened s963G of the Corporations Act by accepting payments from Positive RealEstate, and RM Capital contravened s963F of the Corporations Act by failing to take ...
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