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Showing 121 - 130 of 402 results for "Justice"

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 ...

AFCA chief to serve second term

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
... services system, and it is a great privilege to lead such an amazing group of people who are passionate about access to justice and fairness to all," he said. Locke added that the authority expects to register about 100,000 complaints this financial ...

Linchpin, Endeavour directors found guilty

JAMIE WILLIAMSON  |  TUESDAY, 4 APR 2023
... second loan of $35,000 which was increased later to $75,000. Both cited financial difficulty at the time. In judgement, Justice Cheeseman said: "The circumstances in which and the way in which Endeavour transferred the funds to Linchpin, markedly departed ...