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Showing 91 - 100 of 697 results for "Judge"

Mixed reviews for advice industry reviewer

KARREN VERGARA  |  MONDAY, 14 MAR 2022
Lawyer Michelle Levy's appointment in overseeing the Quality of Advice Review has received a mixed reception from the financial advice industry. The Association of Independently Owned Financial Professionals executive director Peter Johnston called ...

Advisers call out regulation backflip

KARREN VERGARA  |  FRIDAY, 4 MAR 2022
Financial advisers are calling out the federal government's regulatory backflip, which floated the idea that the industry can operate under a principles-based regime. Synchron general manager of compliance Phil Osborne said the proposed framework put ...

Federal Court fines Mayfair $30m

CHLOE WALKER  |  THURSDAY, 23 DEC 2021
James Mawhinney's Mayfair 101 Group has been ordered to pay a combined penalty of $30 million for misleading advertising. In handing down the decision, Justice Anderson said the increased penalties were appropriate, noting that those sought by ASIC ...

ASIC sets out limited advice expectations

KARREN VERGARA  |  THURSDAY, 2 DEC 2021
ASIC has provided a roadmap for financial advisers to ensure that they do not breach their limited advice obligations. The corporate regulator has spelled out how not to breach limited advice regulation in the new information sheet INFO 267: Tips for ...

La Trobe fined for misleading investors

ELIZABETH MCARTHUR  |  MONDAY, 29 NOV 2021
... of the investment options - both as to the entitlement to withdraw funds and the risk of loss of capital invested," the judge presiding over the case, Justice O'Bryan, said. "Each of the representations was made over periods ranging from about one ...

APRA hones in on post-retirement products

KARREN VERGARA  |  TUESDAY, 23 NOV 2021
APRA is adamant that retirement income products will not suffer the same fate as income protection insurance as it looks to tighten its belt in regulating the post-retirement phase. The prudential regulator's deputy chair Helen Rowell spoke of the ...

E&P Financial Group director steps down

ANNABELLE DICKSON  |  WEDNESDAY, 17 NOV 2021
E&P Financial Group bid farewell to an independent non-executive director and appointed its chief executive as managing director. Kevin McCann joined the board in 2020 and was lead independent director, chair of the people, nomination and remuneration ...

No proof of member benefit: APRA on super fund spends

JAMIE WILLIAMSON  |  TUESDAY, 26 OCT 2021
APRA has found instances of expenditure by superannuation funds that does not meet the best financial interests of members, including sponsorship deals and advertising spends with no evidence of member benefit. Releasing its review of RSE licensee marketing ...

Former Dover adviser banned

ANNABELLE DICKSON  |  THURSDAY, 21 OCT 2021
The corporate regulator handed down a six-year ban from providing financial services to a Melbourne-based financial adviser for failing to provide appropriate advice. Ashok Sherwal advised clients in need of cash to replace their existing insurance ...

CFS fined $20m over super misconduct

JAMIE WILLIAMSON  |  TUESDAY, 19 OCT 2021
... effect, seeking to take advantage of members whose interests it was, as trustee of the fund, duty-bound to protect". The judge said CFS failed to inform members that it was required to transfer their account to a MySuper product if they didn't make ...