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Showing 91 - 100 of 319 results for "Justice"

Mawhinney banned for 20 years

ELIZABETH MCARTHUR  |  MONDAY, 19 APR 2021
... sought to permanently restrain Mawhinney from operating in financial services for at least a period of 20 years. The judge, Justice Anderson, slammed Mawhinney's conduct as managing director of Mayfair 101. "Mr Mawhinney's conduct can accurately be described ...

Bernie Madoff dies in prison

ELIZABETH MCARTHUR  |  THURSDAY, 15 APR 2021
The architect of the largest Ponzi scheme in US history has died in prison aged 82. Bernie Madoff had been serving his sentence at FMC Butner, an administrative security federal medical centre for male offenders located in North Carolina, at the time ...

CBA to pay $7m for overcharged interest

ANNABELLE DICKSON  |  THURSDAY, 8 APR 2021
... hearing, CBA said an appropriate penalty was between $4 million and $5 million yet ASIC submitted a penalty of $7 million. Justice Lee rejected the submission that CBA tried to quickly remedy the error and found the delay "particularly troubling". As ...

Mayfair found to have misled

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 MAR 2021
... party and not secured, used to pay deposits on properties and used to purchase assets that were not secured. The judge, Justice Anderson, found the term deposit representation was: "Misleading or deceptive and created a false and misleading impression ...

AFCA left toothless on Mayfair complaints

ELIZABETH MCARTHUR  |  MONDAY, 22 MAR 2021
... advised into Mayfair products through licensees that are AFCA members. But he acknowledged there is still an access to justice problem for consumers - one that can probably only be solved by the compensation scheme of last resort coming into effect. ...

Banks still failing customers after Royal Commission

ELIZA BAVIN  |  TUESDAY, 16 MAR 2021
... "Scrapping safe lending will land many people with large debts they can't afford and take away their ability to receive justice. "This contradicts the very first recommendation of the Banking Royal Commission - to leave safe lending laws intact."

Chances of CBA admitting to Essential Super wrongdoing "non-existent"

JAMIE WILLIAMSON  |  FRIDAY, 12 MAR 2021
... Commonwealth Bank of Australia has agreed to these admissions when it hasn't contravened the law." In concluding, Justice Anderson said he would not be ordering mediation. "If they think it's possible to settle the matter, then I don't think ...

Remediation services profiting from Royal Commission failures

ELIZABETH MCARTHUR  |  THURSDAY, 11 MAR 2021
... consumers should go to AFCA themselves rather than pay a fee. "When handing down the findings of the Royal Commission, Justice Kenneth Hayne captured the sentiment of the hearings in one word - greed," Stackpool told Financial Standard. "Remediator charges ...

Court makes orders in ASIC versus TAL

KANIKA SOOD  |  WEDNESDAY, 10 MAR 2021
... insurers have with their policyholders. It fundamentally underpins the trust which consumers place in their insurers." Chief Justice Allsop found TAL, on receiving the claim, did not tell the policyholder that it was going to investigate old medical ...

Dover, McMaster hit with $1.4m penalty

KARREN VERGARA  |  FRIDAY, 5 MAR 2021
... its founder Terry McMaster have been ordered to pay over $1.4 million in penalties by the Federal Court of Australia. Justice O'Bryan imposed a $1.2 million penalty on the defunct financial advice firm based on 19,402 contraventions brought against ...