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Showing 121 - 130 of 957 results for "Federal Court"

BUSSQ abandons appeal, concedes to licence conditions

ANDREW MCKEAN  |  THURSDAY, 13 MAR 2025
BUSSQ has pulled the plug on its Federal Court appeal for a judicial review of APRA's additional licence conditions, caving to the regulator's edict. At the same time, APRA has tweaked the conditions it slapped on BUSSQ last August, which force ...

AustralianSuper sued over death benefit delays

JAMIE WILLIAMSON  |  WEDNESDAY, 12 MAR 2025
... death benefit claims, with some beneficiaries left waiting four years for a payout. The regulator has commenced federal court proceedings against AustralianSuper, alleging the fund failed to process death benefit claims efficiently, honestly and fairly ...

Freezing order slapped on First Guardian Master Fund, Falcon Capital

KARREN VERGARA  |  MONDAY, 3 MAR 2025
... orders to freeze the assets of David Anderson, who is the director of Falcon, as it continues its investigation. The Federal Court has stopped Falcon and Anderson from removing their property, including the property of First Guardian, from Australia. ...

'Less revenue for us': AustralianSuper on closing multiple accounts

ELIZA BAVIN  |  THURSDAY, 27 FEB 2025
... court to seek penalties, but ultimately it is the decision of the presiding judge. The exchange comes after the Federal Court fined the super fund $27 million for dragging its feet on a multiple account bungle that lasted more than four years. Judge ...

Court acts against two with links to Shield Master Fund

JAMIE WILLIAMSON  |  THURSDAY, 27 FEB 2025
The Federal Court has made orders against two individuals in connection to ASIC's investigation into the Shield Master Fund collapse. The $480 million Shield Master Fund collapse will likely see its 5800-plus investors cop significant losses, with the ...

Multiple account bungle costs AustralianSuper $27m

KARREN VERGARA  |  FRIDAY, 21 FEB 2025
The Federal Court today slapped AustralianSuper with a $27 million fine for dragging its feet on a multiple account bungle that lasted more than four years. Judge Hespe found that AustralianSuper failed to promptly identify and merge members' multiple ...

BUSSQ handed stricter licence conditions by APRA amid appeal

ANDREW MCKEAN  |  THURSDAY, 20 FEB 2025
After the Federal Court threw out BUSSQ's bid to overturn the regulator's additional licence conditions, the super fund is gearing up for another fight. APRA said the imposition of the additional licence conditions on BUSSQ are to safeguard ...

Cbus faces fresh investigation over fund expenditure practices

ANDREW MCKEAN  |  TUESDAY, 11 FEB 2025
... court enforceable undertaking, which are separate to the additional licence conditions, APRA can enforce them in the Federal Court. Cbus said the work program with the regulator builds on progress made in recent years to improve its operational risk ...

Keybridge Capital enters voluntary administration

ELIZA BAVIN  |  MONDAY, 10 FEB 2025
... venue of the meeting. The court ultimately denied Keybridge's case, leading to an appeal being lodged in the Federal Court which was also denied. Keybridge has been planning a capital raise since November 2024, with the proceeds to help pay for the ...

BUSSQ loses legal bid to overturn additional licence conditions

ANDREW MCKEAN  |  MONDAY, 3 FEB 2025
Industry superannuation fund BUSSQ has lost its legal challenge against APRA, with the Federal Court dismissing its bid to overturn additional licence conditions. Last August, APRA imposed additional licence conditions on BUSSQ's trustee over concerns ...