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Showing 61 - 70 of 4981 results for "Federal"

Rest faces class action over IP premiums

CHLOE WALKER  |  MONDAY, 19 FEB 2024
... compensate those who were affected," Lane said. A spokesperson for the super fund said it intends to defend the action in the Federal Court. "As a profit-to-member fund, Rest has at all times focussed on the best financial interests of members," the ...

Commonwealth Bank slapped with $10.3m fine for wage theft

ANDREW MCKEAN  |  FRIDAY, 16 FEB 2024
Commonwealth Bank was fined $10.3 million by the Federal Court for its involvement in wage theft which led to $16 million in underpayments to over 7400 workers. The case emerged after the Finance Sector Union (FSU) uncovered the bank's systematic ...

ASIC files lawsuit against unlicensed director, companies

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2024
... over $100 million to invest in companies he owned without a financial services licence. ASIC commenced proceedings in the Federal Court on Wednesday, alleging David Paul Hodgson of the Sunshine Coast provided unlicensed financial services and made misrepresentations ...

Count to finalise Diverger deal

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2024
Count's acquisition of Diverger was approved by the Federal Court yesterday, with the deal now expected to be completed on March 1. Last month, Diverger shareholders overwhelmingly voted in favour of the takeover, with the court approval marking the ...

Conference to address major SMSF issues

KARREN VERGARA  |  TUESDAY, 13 FEB 2024
... track. Will some of the legislative changes that they've experienced flow through to us?" she said. One example is the federal government floating the possibility of making the Retirement Income Covenant applicable to SMSFs. "I don't know that ...

SMC finds $38k nest egg boost for working mums

KARREN VERGARA  |  MONDAY, 12 FEB 2024
The Super Members Council is calling on the federal government to boost the retirement savings of working mothers by $38,000 via two critical policy changes. In the first instance, the SMC calculates that working mums can be $12,500 to $14,500 better ...

Crypto fintech needed AFSL, court says

JAMIE WILLIAMSON  |  MONDAY, 12 FEB 2024
... retail investors without a licence. However, it was a mixed outcome for the regulator, with another allegation quashed. The federal court determined Block Earner's Earner offering, which allowed investors to earn a fixed yield return from crypto-assets ...

Brite Advisors to be wound up

CHLOE WALKER  |  WEDNESDAY, 7 FEB 2024
The Federal Court has ordered Brite Advisors (Brite) to be wound up on just and equitable grounds following an application by ASIC. At a hearing yesterday, the Court appointed Linda Smith and Robert Kirman of McGrath Nicol as liquidators to Brite and ...

RBA anticipated to delay interest rate cuts

ANDREW MCKEAN  |  TUESDAY, 6 FEB 2024
... said. Solomon anticipates that while the RBA may eventually slash rates late in the year, it will likely act after the Federal Reserve (Fed) initiates its own cuts, which are not expected to start before May, in line with recent indications from Fed ...

Westpac loses Ausgrid rate swap case

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... Westpac's trading desk achieved a profit of $20.7 million. Close to $ million was paid to the sales team as commission. The Federal Court declared the conduct was unconscionable, including because Westpac was aware the pre-hedging could adversely impact ...