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Showing 111 - 120 of 3536 results for "Law"

Tranche one of advice reforms hits parliament

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2024
... flexibility to decide how they disclose the information that is otherwise required to be in an FSG to their clients. Under the new law, advisers can either continue to give their clients an FSG or instead make the information publicly available on their ...

Director facing $13k fine in first of its kind action from ASIC

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
... this matter was facing a maximum penalty of $13,320. Directors required to have ID ASIC said all directors are required by law to verify their identity with Australian Business Registry Services before receiving a director ID. Directors must apply for ...

ANZ to pay $57.5m to settle class action

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
ANZ announced it reached an agreement to settle a class action brought against it by Phi Finney McDonald in 2021. The class action related to certain interest charged on specific ANZ personal credit cards in the period from 1 July 2010 to 1 January ...

ACNC tightens screws on NFPs with complex corporate structures

JAMIE WILLIAMSON  |  THURSDAY, 21 MAR 2024
... conceal non-compliance with the ACNC Act and Regulations by deliberately using complex structures to avoid adherence to the law we administer. We will also continue to refer matters to other appropriate government agencies when we have concerns about ...

Luxury fashion house sued over Birkin bag sales

JAMIE WILLIAMSON  |  THURSDAY, 21 MAR 2024
Hermes is facing an antitrust class action which alleges it only allows customers with "sufficient purchase history" to buy the infamous Birkin handbags. The French luxury fashion house is being sued in California in a case that claims sales associated ...

ASIC bans director who promised 150% returns

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... investors. ASIC said it was satisfied there was reason to believe that Creigh was likely to contravene a financial services law due to his "fundamental lack of competence as well as his lack of fitness and propriety". Creigh has the right to appeal to ...

ASIC warns it can't take action on every case of misconduct

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... are operating a business engaged in digital assets, the onus is on you to satisfy yourself that you are operating within the law," he said. "That is, you have the appropriate licences - and that you conduct your business in accordance with the regulatory ...

Financial services class actions surge

JAMIE WILLIAMSON  |  WEDNESDAY, 20 MAR 2024
... in class actions continues to widen as more novel forms of class actions are filed that seek to bring about changes in the law or conduct, or to hold businesses and government to account... We expect the trend of ever-expanding ESG class actions to keep ...

ASIC bans Queensland financial adviser

ELIZA BAVIN  |  WEDNESDAY, 20 MAR 2024
... dishonest actions showed serious incompetence and irresponsibility, and that he is likely to contravene financial services law in future". Prior to Octillion Partners, Rose was licensed through MyPlanner Professional Services and was not able to provide ...

Treasury releases draft legislation for new $3m super tax

ELIZA BAVIN  |  TUESDAY, 19 MAR 2024
... superannuation balance of $50 million paying no tax, despite the fund earning taxable earnings in accordance with existing tax law concepts," it said. "Conversely, a member with a total superannuation balance of $3.5 million may have no taxable income ...