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Showing 91 - 100 of 2132 results for "Court"

Mitsubishi UFJ Financial Group to acquire Link Group

KARREN VERGARA  |  MONDAY, 18 DEC 2023
Mitsubishi UFJ Financial Group (MUFG) is set to pay $1.2 billion for Link Group. MUFG's subsidiary Mitsubishi UFJ Trust & Banking Corporation (The Trust Bank) parties signed the scheme implementation deed today that will pay $2.26 cash for every ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
... subsidiaries, including AMP Services, NM Super, AMP Super, and AWM Services, were served with legal proceedings in the Supreme Court of New South Wales by Munich Re in April 2023. The proceedings regard the manner in which both Munich Re and Resolution ...

Woodford investors approve Link redress scheme

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
Close to 100% of investors trapped in the failed LF Woodford Equity Income Fund have approved the compensation scheme under which up to $438 million will be paid by Link Fund Solutions. About 93.7% of investors - representing 96.1% of the value - voted ...

Federal Court approves BT Super $30m settlement

KARREN VERGARA  |  TUESDAY, 12 DEC 2023
The Federal Court approved the $29.95 million class action settlement against Westpac after subsidiaries BT Funds Management (BTFM) and Westpac Life Insurance Services (WLIS) allegedly failed to manage conflicts of interest when investing BT Super member ...

ANZ fined $900k over shares disclosure failure

CHLOE WALKER  |  MONDAY, 11 DEC 2023
The Federal Court has slapped ANZ with a $900,000 fine for breaching its continuous disclosure laws about eight years ago. In October, the court found the banking giant had contravened continuous disclosure laws by failing to tell the market its underwriters ...

Adviser with Investport links sees ban affirmed

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
... unregistered managed investment scheme run by Linchpin Capital. Endeavour Securities was the responsible entity. The Federal Court later found the directors of the scheme had used money sought from investors for their personal use, including signing ...

ASIC curbs high-risk offers from online trading providers

ANDREW MCKEAN  |  WEDNESDAY, 6 DEC 2023
... we identify significant harm, we will continue to take strong regulatory action including, where appropriate, commencing court proceedings." For example, in a case concerning high-risk offers, ASIC discovered a provider intending to initiate a retail ...

Former adviser convicted over false documents

CHLOE WALKER  |  THURSDAY, 30 NOV 2023
... Former financial adviser David Fong and his practice Fong Financial Planners have been convicted and sentenced in a Perth court for three counts of dishonest conduct. Fong, who was an authorised representative of AMP Financial Planning between January ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
The Federal Court has imposed a $5 million penalty on OnePath Custodians for unlawfully deducting adviser service fees from members. According to court documents, the trustee made misleading representations about its right to continue charging fees ...

Buffett outlines plans for Berkshire Hathaway

CHLOE WALKER  |  WEDNESDAY, 29 NOV 2023
Warren Buffett has laid out plans for Berkshire Hathaway (Berkshire) and his fortune in a rare letter published on the company's website. The legendary investor announced the gifting of 2.4 million Class B shares of Berkshire Hathaway stock (totalling ...