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Showing 101 - 110 of 256 results for "Financial Services Law"

ASIC bans adviser over $5m fraud

ELIZABETH MCARTHUR  |  TUESDAY, 8 JUN 2021
... best interests of clients and engaging in unlicensed conduct. Concluding that Fineff was likely to breach financial services law in the future, was not adequately trained and was not a fit and proper person to provide financial services, ASIC said a ...

Forex CT cops $20 million fine

ANNABELLE DICKSON  |  WEDNESDAY, 2 JUN 2021
The Federal Court has handed down a $20 million penalty to Forex Capital Trading for engaging in a system of unconscionable conduct, including the use of high-pressure sales tactics, conflicted remuneration and failing to act in the best interests of ...

Former adviser cops eight-year ban

KARREN VERGARA  |  THURSDAY, 6 MAY 2021
... has reason to believe that they are not of good fame or character or likely to fail to comply with the financial services law," ASIC said. She has appealed to the Administrative Appeals Tribunal to review of ASIC's decision. Lee joins a long list of ...

Former Australian Unity adviser banned

JAMIE WILLIAMSON  |  THURSDAY, 29 APR 2021
A former authorised representative of Australian Unity Personal Financial Services was handed a five-year ban for telling clients MySuper options are more expensive and to opt out of the products. Christopher Chan will serve a five-year ban for writing ...

Government opens consultation on key advice reforms

JAMIE WILLIAMSON  |  MONDAY, 19 APR 2021
... as a financial adviser, such as being insolvent or convicted of fraud. They may also have contravened a financial services law, or have breached the education and training requirements or the Code of Ethics. Advisers involved in someone else's breach ...

Mawhinney banned for 20 years

ELIZABETH MCARTHUR  |  MONDAY, 19 APR 2021
The Federal Court has ruled that Mayfair 101 founder James Mawhinney cannot fundraise for or advertise financial products for 20 years. The judgement, delivered this morning, ordered that Mawhinney and any of his employees or any companies he is a part ...

Vanguard Super appoints board

KANIKA SOOD  |  THURSDAY, 15 APR 2021
... Lui. O'Neal is a former partner at law firm Herbert Smith Freehills specialising in superannuation and financial services law. She was also a consultant to the Cooper Review, and a member of Vanguard Investments Australia's external compliance committee. ...

Foreign exchange brokers banned

ANNABELLE DICKSON  |  THURSDAY, 18 MAR 2021
The corporate watchdog has banned the sole director and four employees of contracts-for-difference and FX broker Forex Capital Trading from providing financial services. Forex CT chief executive officer, responsible manager and sole director Shlomo ...

Trading platform slapped with licence conditions

KARREN VERGARA  |  MONDAY, 15 MAR 2021
A trading platform was slapped with additional conditions from ASIC for several compliance failures. ASIC is doubtful if retail OTC derivative issuer AxiCorp Financial Services has the appropriate procedures and internal controls to meet regulatory ...

CBA guilty of deceptive conduct

ELIZA BAVIN  |  WEDNESDAY, 17 FEB 2021
... statements and engaged in deceptive conduct on over 12,000 occasions. Justice Lee found that CBA breached financial services law 12,119 times when charging a rate of interest on business overdraft accounts substantially higher than what customers were ...