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Showing 71 - 80 of 4981 results for "Federal"

AI is not the 'Wild West': Longo

CHLOE WALKER  |  THURSDAY, 1 FEB 2024
... of 'Wild West', without law or regulation of any kind. Nothing could be further from the truth." Longo referenced the federal government's interim report on regulation, which stated that businesses and individuals who develop and use AI are already subject ...

Inflation falls to 4.1%, RBA weighs rate cut

ANDREW MCKEAN  |  THURSDAY, 1 FEB 2024
... same time, we think it is too early to be talking about rate cuts," he said. Elsewhere abroad, as anticipated, the US Federal Reserve also held its policy rate steady following its meeting on Wednesday. However, in response to significantly lower inflation ...

Massive crypto Ponzi scheme unravels

KARREN VERGARA  |  TUESDAY, 30 JAN 2024
... HyperFund collapsed in 2022 and investors were no longer able to make withdrawals. The SEC filed its complaint in the federal district court of Maryland. In its civil action, the regulator seeks "permanent injunctive relief, conduct-based injunctions ...

ASIC files contempt orders against repeat offender

CHLOE WALKER  |  MONDAY, 29 JAN 2024
ASIC has filed a contempt application in the Federal Court against former Wealth & Risk Management (WRM) director Joshua David Fuoco. In February 2018, the Melbourne-based wealth manager was ordered by the Federal Court not to carry on or be involved ...

Treasury unveils Stage 3 tax cuts changes

KARREN VERGARA  |  MONDAY, 29 JAN 2024
The federal government has officially released amendments to Stage 3 income tax cuts, saying that cost-of-living pressures has forced it to do so. Among the changes, Treasury is proposing to reduce the 19% tax rate to 16% and increase the threshold ...

ME Bank fined $820k for misleading borrowers

CHLOE WALKER  |  MONDAY, 22 JAN 2024
ME Bank has been fined by the Federal Court after it was found to have provided inaccurate information about its home loans to customers. The matter, prosecuted by the Commonwealth Director of Public Prosecutions, followed an investigation and referral ...

2024 to be a watershed year: FAAA

JAMIE WILLIAMSON  |  THURSDAY, 11 JAN 2024
... months," FAAA chief executive Sarah Abood said. "The FAAA has been generally supportive of the package proposed by the federal government in response to the Quality of Advice Review recommendations, but there is still a way to go with important detail ...

Court fines Linchpin, Endeavour directors

KARREN VERGARA  |  THURSDAY, 11 JAN 2024
... Group and Endeavour Securities, both of which are now in liquidation, were slapped with a combined $390,000 penalty by the Federal Court for breaching their duties. Last April, the court found that Ian Williams, Paul Raftery, Paul Nielsen, and Peter ...

Investors livid over fresh portfolio valuation: Mayfair 101

JAMIE WILLIAMSON  |  WEDNESDAY, 10 JAN 2024
... valuation uplift in Mayfair's portfolio confirms ASIC grossly mischaracterised Mayfair's business and its investments to the Federal Court of Australia, and that Mayfair's investments were solid. ASIC had no right to take that away from nearly six hundred ...

ASIC cracks down on Prospero for reporting failures

CHLOE WALKER  |  WEDNESDAY, 10 JAN 2024
... February 8 and ASIC said Prospero is cooperating with the investigation. In November 2023 it was reported the Australian Federal Police (AFP) had raided the Melbourne offices of Prospero Markets as part of an investigation into money laundering. According ...