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Showing 91 - 100 of 756 results for "Federal Court"

More DASS complainants flock to AFCA

KARREN VERGARA  |  MONDAY, 6 FEB 2023
... AFCA is a necessary step for clients to preserve their possible eligibility under a potential future CSLR". The Federal Court recently ordered Dixon Advisory to pay $7.2 million for failing to act in the best interest of eight clients on 53 occasions ...

Former planner pleads guilty to dishonest conduct

CASSANDRA BALDINI  |  FRIDAY, 27 JAN 2023
... advice and deal in financial products, and that he was banned from providing financial services by order of the Federal Court. The Commonwealth Director of Public Prosecutions is prosecuting the matter after a brief was referred by ASIC. It will be listed ...

Court ruling reiterates need to comply with AFCA

CASSANDRA BALDINI  |  WEDNESDAY, 25 JAN 2023
... resolution scheme do work in partnership with us, and this is to the benefit of firms as well as consumers," he said. The Federal Court case highlights there are implications for financial firms that don't engage with AFCA's requirements. On ...

Federal Court finds against finfluencer

JAMIE WILLIAMSON  |  MONDAY, 9 JAN 2023
The Federal Court determined Tyson Scholz, known as ASX Wolf, was running an unlicensed financial services business for over a year, including providing courses on share trading and recommending stocks on Instagram. The court handed its decision down ...

ASIC takes civil action against Firstmac

CASSANDRA BALDINI  |  FRIDAY, 16 DEC 2022
... alleged breaches of design and distribution obligations (DDO). The regulator commenced the civil penalty action in the Federal Court against Firstmac Limited following its first DDO court action filed earlier this month against American Express. Firstmac ...

Adviser imprisoned for super fraud

CHLOE WALKER  |  THURSDAY, 15 DEC 2022
... Wealth and Finance Pty Ltd. Goel has repaid several consumers from funds held in accounts previously frozen by the Federal Court. ASIC deputy chair Sarah Court said that ASIC was particularly concerned by Goel's conduct, which had many characteristics ...

Former Statewide Super executives charged

ANDREW MCKEAN  |  MONDAY, 12 DEC 2022
... misleading information regarding their insurance and failing to report the issue to ASIC in the time required. The Federal Court imposed a $3.5 million penalty for the misleading correspondence and $500,000 for failing to report the breach to ASIC.

OnePath Life sued over utmost good faith duties breach

JAMIE WILLIAMSON  |  THURSDAY, 8 DEC 2022
OnePath Life will face ASIC in Federal Court over failures while handling a mental health claim. In 2016 a customer took out an income protection policy with OnePath Life through an ANZ financial adviser based in Grafton, New South Wales. OnePath Life ...

ASIC commences proceedings over failure to comply

JAMIE WILLIAMSON  |  THURSDAY, 8 DEC 2022
... local subsidiary of TPP Global Investments is the target of ASIC's latest court action. The regulator commenced Federal Court action against Provide Nominees, which trades as Provide Capital, seeking the court's intervention under s70 of the ASIC Act. ...

DASS clients pushed to accept paltry recoupment

ANDREW MCKEAN  |  FRIDAY, 2 DEC 2022
... made to pay $7 million for providing inappropriate advice and not meeting client best interest obligations. The Federal Court found that six Dixon Advisory representatives didn't act in the best interests of eight clients on 53 occasions. Each instance ...