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Showing 1181 - 1190 of 2460 results for "Court"

Royal Commission: And that is a wrap

KANIKA SOOD  |  FRIDAY, 30 NOV 2018
The public were provided a glimpse into the tireless work of the financial services Royal Commission as Commissioner Kenneth Hayne and counsel assisting Rowena Orr made closing remarks this afternoon. The final day's hearings adjourned at 1.15pm and ...

APRA not clear how to police BEAR breaches

KANIKA SOOD  |  FRIDAY, 30 NOV 2018
... second time that APRA has received direct powers to disqualify an accountable person without having to apply to the Federal Court. The last time it had this power was for more than three years, ending around 2007. Byres said a number of disqualification ...

Should banks fund customer litigation?

HARRISON WORLEY  |  TUESDAY, 27 NOV 2018
... whether in this case NAB should not have, years ago, funded some of our customers to take us to this place, to this Federal Court and get an outcome. "I have wondered whether, in retrospect, we shouldn't have done that." Orr suggested that if NAB's board ...

Royal Commission: ASIC rethinks negotiation tactics

KARREN VERGARA  |  FRIDAY, 23 NOV 2018
... entering into an enforceable undertaking. A negotiated resolution would be appropriate if there wasn't a need to pursue court-based enforcement outcomes, he said. But this approach has changed as of late. "We now, as of today, have a process that ...

Court fines stockbroker $350k

KARREN VERGARA  |  THURSDAY, 22 NOV 2018
The Federal Court has ordered a stockbroking firm to pay a $350,000 penalty for failing to comply with Market Integrity Rules. In early March 2011, State One Stockbroking placed 19 bids on behalf of a client when it should have reasonably suspected ...

Chief economist update: The money is one Fed rate hike next year

BENJAMIN ONG  |  MONDAY, 19 NOV 2018
The tug-o-war between the bulls and the bears continues on Wall Street as 2018 draws to a close. Whether this state of affairs - or better yet, resolved one way of another (up or down) - depends primarily on the end game of the on-going trade stoush ...

AFCA creates small businesses ombudsman role

KARREN VERGARA  |  FRIDAY, 16 NOV 2018
... businesses. This covers the vast majority of small businesses in Australia and removes the need and expense of going to court to resolve financial disputes," she said. AFCA chief ombudsman and chief executive David Locke said: "With the arrival of AFCA ...

Frydenberg splashes $50m to pursue financial services crime

HARRISON WORLEY  |  FRIDAY, 16 NOV 2018
... an additional $51.5 million would be provided to the Commonwealth Director of Public Prosecutions (CDPP) and the Federal Court of Australia, in an effort to increase prosecutions of criminal misconduct by financial institutions. The additional funding ...

ASIC bans Perth adviser

KANIKA SOOD  |  THURSDAY, 15 NOV 2018
ASIC has banned a Perth-based adviser after a court found he stole more than $100,000 of superannuation money from his clients. Craig James Wilson was employed by an advice firm that was a representative of the Westpac-controlled licensee Securitor ...

Labor responds to Royal Commission, sheds light on victims of misconduct

HARRISON WORLEY  |  TUESDAY, 13 NOV 2018
... have admitted to wrongdoing before their victims, however have displayed arrogance in telling customers to "take them to court." "Privately, the bank basically admitted they're wrong, but they just say I'll have to take them to court if I want ...