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Showing 1 - 10 of 688 results for "Corporations Act"

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 ...

'ASX Wolf' Tyson Scholz bankrupt in ASIC crackdown

ANDREW MCKEAN  |  FRIDAY, 1 MAR 2024
... Australian Financial Services Licence, and carrying on any financial services business in Australia as per the Corporations Act. He was ordered to pay $456,296.64 in legal costs, but after failing to do so, ASIC issued a bankruptcy notice and subsequently ...

Former Blockchain Global director confined to Australia

ANDREW MCKEAN  |  THURSDAY, 29 FEB 2024
... remaining. ASIC deems interviewing Guo critical to furthering an investigation into a potential violation of the Corporations Act, potentially resulting in evidence being submitted to the Commonwealth Director of Public Prosecutions. In particular, the ...

Former financial adviser sanctioned by ASIC

ANDREW MCKEAN  |  THURSDAY, 22 FEB 2024
... reviewing the financial services provided by Jaidka, ASIC found he failed to adhere to s961B and s961G of the Corporations Act concerning self-managed superannuation fund advice. The regulator said that Jaidka didn't act in the best interests of his ...

Jailed adviser permanently banned by ASIC

JAMIE WILLIAMSON  |  TUESDAY, 13 FEB 2024
... guilty, was sentenced to five years in prison. Now, ASIC has made two orders permanently banning him; under the Corporations Act and National Consumer Protection Act, ASIC can permanently ban someone who is convicted of fraud. He can now never provide ...

AI is not the 'Wild West': Longo

CHLOE WALKER  |  THURSDAY, 1 FEB 2024
... use AI are already subject to various Australian laws. For example, current directors' obligations under the Corporations Act are principal-based and apply broadly, as companies increasingly deploy AI. "In 2022, the Federal Court found that RI Advice ...

Standalone laws key to solving legislative 'porridge': ALRC

JAMIE WILLIAMSON  |  FRIDAY, 19 JAN 2024
... maze' of financial services laws, the Australian Law Reform Commission (ALRC) has recommended overhauling the Corporations Act and creating dedicated financial services legislation. The ALRC has been reviewing existing legislation to identify ways to ...

Government proposes framework for clearing and settlement services regulation

ANDREW MCKEAN  |  WEDNESDAY, 17 JAN 2024
... the imposition of such requirements is contingent on the minister's determination under section 828B of the Corporations Act 2001, which allows him to specify, by legislative instrument, the classes of CS services that can be regulated under the ...

Treasury releases climate disclosure draft legislation

RACHEL ALEMBAKIS  |  TUESDAY, 16 JAN 2024
... accounting standard. The legislation would amend the Australian Securities and Investment Commission Act and the Corporations Act. Under the proposed legislation, entities who meet two of the three criteria - revenue of $500 million or more, assets of ...
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