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Showing 111 - 120 of 394 results for "Justice"

AAC at centre of billionaire insider trading scheme

CHLOE WALKER  |  WEDNESDAY, 26 JUL 2023
... the law - laws that apply to everyone, no matter who you are. That's why Joe Lewis has been indicted and will face justice here in the southern district of New York." The companies included Australian Agricultural Co (AAC), of which Lewis owns more ...

AMP loses BOLR changes class action

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... Planning who challenged AMP's decision in 2019 to slash BOLR business valuations from 4x recurring revenue to just 2.5x. Justice Moshinsky found evidence of losses incurred by the lead applicant, Equity Financial Planners, and sample group member ...

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... $23 million in 2021. Together with Insurance Marketing Services (IMS), the three companies were fined $13.5 million by Justice Abraham. "High pressure tactics were applied. Sales tactics were used to overbear the free will of consumers. Having made the ...

Labor advances super performance test changes

KARREN VERGARA  |  MONDAY, 19 JUN 2023
... the Financial Services Council chief executive Blake Briggs said. Briggs believes the government's pursuit of "rough justice for underperforming investment options" risks consumers becoming "collateral damage". "Issues with the chosen methodology ...

Perth-based Ponzi scheme shut down by court

JAMIE WILLIAMSON  |  FRIDAY, 9 JUN 2023
... losses are going to be in the millions of dollars and are likely to impact on the retirement savings of many individuals," Justice Jackson said. Meanwhile, ASIC executive director financial services enforcement Tim Mullaly said: "ASIC is actively engaging ...

No regrets: Hayne reflects on Royal Commission

KARREN VERGARA  |  TUESDAY, 30 MAY 2023
Nearly six years since the landmark Royal Commission, former High Court justice Kenneth Hayne stands by his recommendations that upended the banking and financial services sectors. Making a rare appearance at the International Congress of Actuaries ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... guilty of charging deceased customers life insurance premiums and advice fees, ordering it to pay $24 million in penalties. Justice Hespe today determined that four AMP subsidiaries - AMP Life, AMP Financial Planning, AMP Superannuation, and NM Superannuation ...

Labor strengthens economic equality initiatives

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... said. Chalmers promised more will be done to strengthen and harmonise sexual assault and consent laws, address barriers to justice and improve the family law system to achieve better outcomes, including for victim-survivors. Given that single parents ...

Courtenay House affiliate faces prison

CHLOE WALKER  |  TUESDAY, 9 MAY 2023
... 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 a fair and strong financial system, and to protect consumers, financial ...

Former adviser jailed for nine years

KARREN VERGARA  |  MONDAY, 24 APR 2023
... police from Ladbrokes and Sportsbet show that between June 2014 to March 2020, his total losses amounted to $4.42 million. Justice O'Brien rejected the defence's argument that the offences "were moderated by his gambling addiction and diagnosed ...