Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 101 - 110 of 190 results for "Sarah Court"

Mercer fined $12m over advice failures

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
... normalised profits. The court met them somewhat in the middle, handing over a fine for $12 million. ASIC deputy chair Sarah Court described the penalty as significant for a financial advice provider. "Mercer failed in its obligation to provide fee disclosure ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
... appointed a head of alliance, advice industry veteran Mark Stubbings. Commenting on the matter, ASIC deputy chair Sarah Court said firms dealing in financial products have a legal obligation to be licensed. "The licencing regime requires financial services ...

ASIC charges HESTA for misleading marketing

ANDREW MCKEAN  |  FRIDAY, 10 NOV 2023
... performance figures presented were notably more favourable than the most recent data available. ASIC deputy chair Sarah Court expressed concerns about the potential for consumer deception, emphasising that the omission of "necessary information" might ...

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... TelstraSuper received only 33 AFCA complaints. Only six cases were resolved in favour of the super fund. ASIC deputy chair Sarah Court said: "ASIC expects the financial services industry to have effective dispute resolution procedures in place, and ...

ASIC loses case against Diversa

JAMIE WILLIAMSON  |  TUESDAY, 24 OCT 2023
... which, if not done properly, can enable inappropriate behaviour by service providers and others," ASIC deputy chair Sarah Court said. "ASIC will continue to work with superannuation trustees emphasising the importance of risk management when dealing ...

ASIC cracks down on 11 SMSF auditors

ANDREW MCKEAN  |  WEDNESDAY, 11 OCT 2023
... have a critical role in upholding the integrity of the SMSF sector through annual audits," said ASIC deputy chair Sarah Court. Court highlighted that auditors are responsible for overseeing 610,000 SMSFs, holding a combined total of more than $875 billion ...

ASIC fines fintech for misrepresenting crypto product

CASSANDRA BALDINI  |  WEDNESDAY, 27 SEP 2023
... regulatory outcome, after having weighed the regulatory outcomes offered by other enforcement remedies. ASIC deputy chair Sarah Court explained the product risked confusing customers. "ASIC was concerned Bobbob's representations potentially misled customers ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
... cash advance from funds listed as 'Available Funds' without incurring additional fees or interest. ASIC deputy chair Sarah Court said: "Customers deserve clear and accurate information about available funds in their accounts and what fees and charges ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... law and on respect for its customers' legal rights," he continued. Commenting on the outcome, ASIC deputy chair Sarah Court said: "NAB continued to charge fees when it knew it lacked any entitlement to do so and omitted to tell its customers of that ...

ASIC takes legal action against crypto exchange

ANDREW MCKEAN  |  THURSDAY, 21 SEP 2023
... around $12.95 million while using Bit Trade's margin trading product via the Kraken exchange. ASIC deputy chair Sarah Court said: "These proceedings should send a message to the crypto industry that products will continue to be scrutinised by ASIC ...