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Showing 111 - 120 of 566 results for "Civil"

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... derivatives, options, and other derivative arrangements. To date, ASIC has issued 10 interim stop orders and commenced a civil penalty proceeding for alleged breaches of DDOs and has engaged with product issuers to do the right thing. Such instruments ...

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... breach their obligations can be penalised with a loss of income, disqualification from working in the sector, and individual civil penalties for assisting in the organisation's contravention of its obligations. "Financial services executives make ...

Financial hardship neglect lands Westpac in court

KARREN VERGARA  |  TUESDAY, 5 SEP 2023
... more than 200 customer hardship requests over seven years, for which the bank blames "technology failure". ASIC commenced civil penalty proceedings in the Federal Court, alleging that Westpac failed to respond to hardship notices within 21 days as required ...

Active Super to face action over greenwashing

RACHEL ALEMBAKIS  |  FRIDAY, 11 AUG 2023
... Russian assets after the invasion of Ukraine while purporting otherwise to members. The markets regulator has commenced civil penalty proceedings alleging "misleading conduct and misrepresentations to the market relating to claims it was an ethical and ...

Former director pleads guilty to super misuse

CASSANDRA BALDINI  |  FRIDAY, 4 AUG 2023
... arrested in 2020 and charged with dishonest conduct and misuse of his position as a director. The arrest came after ASIC took civil action to obtain interim orders to preserve the assets of Naseeruddin's companies. In October 2020, ASIC obtained orders ...

ASIC acts against illegal investment scheme operator

JAMIE WILLIAMSON  |  WEDNESDAY, 26 JUL 2023
... schemes that, among other investors, targeted SMSF members. Sasha Hopkins, director of The A Team Property Group, is facing civil action for alleged unlicensed conduct and running several unregistered schemes. ASIC is alleging that Hopkins offered clients ...

ASIC sues Vanguard for greenwash in bond fund

RACHEL ALEMBAKIS  |  TUESDAY, 25 JUL 2023
... bond index fund. This is the second time the market regulator has acted against Vanguard over greenwashing. ASIC has lodged civil penalty proceedings in federal court, alleging Vanguard "made false and misleading statements and engaged in conduct liable ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
... suspend or cancel registrations. It can also issue an infringement notice or recommend that ASIC apply to the court for a civil penalty.

HCF Life under ASIC surveillance

CASSANDRA BALDINI  |  FRIDAY, 12 MAY 2023
The regulator has started civil proceedings in the Federal Court against the insurer after alleging it issued three types of insurance policies containing unfair and misleading contract terms. ASIC said the case involves standard form contracts issued ...

Courtenay House affiliate faces prison

CHLOE WALKER  |  TUESDAY, 9 MAY 2023
... regime of the financial services industry. Commenting on the matter, ASIC deputy chair Sarah Court said: "ASIC has taken civil action to freeze assets, assisted liquidators and is now seeing justice for investors through the criminal court." To ensure ...