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Showing 11 - 20 of 4769 results for "ASIC"

ASIC consults on misconduct reporting rules

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
ASIC has released a consultation paper seeking feedback on updated regulatory guidelines for external administrators and controllers when reporting and lodging statutory reports about alleged misconduct. The proposed updates to Regulatory Guide 16 External ...

ASIC challenges court ruling in Finder Wallet crypto case

ANDREW MCKEAN  |  THURSDAY, 11 APR 2024
ASIC has appealed the Federal Court's decision to dismiss its proceedings against Finder Wallet. The corporate watchdog claimed that Finder Wallet provided unlicensed financial services, breached product disclosure requirements, and failed to comply ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... comply with basic obligations, including operating with almost no compliance staff or risk management processes. In July 2022, ASIC issued civil penalty proceedings against wholesale licensee Lanterne Fund Services, alleging that between March 2019 and ...

Court approves wind up of Prospero Markets

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
The Federal Court ordered Prospero Markets to be wound up following an application by the corporate regulator. ASIC has been investigating Prospero Markets for non-compliance with its AFSL conditions and obligations as an OTC derivatives issuer. The ...

James Mawhinney arrested as Mayfair 101 saga rolls on

JAMIE WILLIAMSON  |  WEDNESDAY, 10 APR 2024
... conduct for allegedly claiming IPO Wealth Group owned companies that it did not. Mawhinney has been in a years-long battle with ASIC now, with the regulator taking him to court for operating what it believes to be a Ponzi scheme and Mawhinney fighting ...

James Mawhinney applies to have ASIC's case struck out

ELIZA BAVIN  |  MONDAY, 8 APR 2024
... investment group have applied to the Federal Court to strike out the Australian Securities and Investments Commission's (ASIC) case against the group's managing director James Mawhinney. The strike-out application seeks to have more than 50 paragraphs ...

Super funds' IDR process weak, inadequate: AFCA

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... was engaging with the regulators about its issues. AFCA meanwhile closed its investigation based on this. Last November, ASIC took TelstraSuper to the Federal Court for allegedly failing to comply with IDR requirements, as 40% of the fund's responses ...

Court delays DASS class action settlement approval

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... details about the type of information Justice Thawley was seeking. DASS went into voluntary administration in January 2022. ASIC cancelled its licence on 5 April 2023. DASS comprises the glut of the Australian Financial Complaints Authority's complaints ...

Former adviser slapped with 12 charges

KARREN VERGARA  |  WEDNESDAY, 3 APR 2024
... Centre Local Court yesterday slapped the charges on David Mario Valvo while running his practice Your Financial Freedom. ASIC alleged that Valvo submitted adviser fee withdrawal forms for 12 of his clients' Wealthtrac superannuation accounts for ...

Court rejects Provide Capital's 'illogical' application

KARREN VERGARA  |  WEDNESDAY, 3 APR 2024
The federal court has rejected Provide Capital's "illogical" application to prevent ASIC conducting further investigation into the firm. Justice Rofe dismissed Provide Capital's application that alleged ASIC did not have the state of mind required ...