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Showing 131 - 140 of 1702 results for "Breach"

QSuper settles $67m class action

ANDREW MCKEAN  |  WEDNESDAY, 28 MAY 2025
QSuper, which merged with Sunsuper to create Australian Retirement Trust (ART), Australia's second-largest super fund, has reached a $67 million out-of-court settlement over claims members were overcharged for life insurance premiums. The settlement ...

ASIC sues home loan manager over 'unlawful' hardship application handling

MATTHEW WAI  |  WEDNESDAY, 21 MAY 2025
The Australian Securities and Investments Commission (ASIC) has filed legal proceedings against Resimac, which manages non-bank loans provided by Perpetual Trustees, for failing to provide appropriate care in responding to hardship applications. Resimac ...

Cointree hit with AUSTRAC fine

ELIZA BAVIN  |  MONDAY, 19 MAY 2025
AUSTRAC has hit crypto exchange Cointree with a $75,120 infringement notice over alleged failures to submit suspicious matter reports (SMRs) to AUSTRAC on time. The action comes after Cointree voluntarily disclosed it had not met the reporting timeframes ...

Dexus accused of breaching confidentiality in airport stake sale

ANDREW MCKEAN  |  FRIDAY, 16 MAY 2025
... confidentiality deed poll and disclosed confidential information in the Dexus Bloc sale process. This would constitute a breach of the APAC Shareholders' Deed, according to the allegations made. It's been reported that IFM Investors, which owns 25% of ...

NAB MySuper class action settlement approved

JAMIE WILLIAMSON  |  WEDNESDAY, 14 MAY 2025
The Federal Court approved the $65 million settlement that was reached in December. At the end of 2024, MLC Super Fund, NULIS Nominees and MLC Nominees agreed to settle the class action that was brought against it for deferring the transition of members ...

Criminal attacks, human error drive data breaches

JAMIE WILLIAMSON  |  WEDNESDAY, 14 MAY 2025
The number of data breaches reported to the Office of the Australian Information Commissioner (OAIC) rose 25% in 2024; 54 or 9% of which occurred at financial services organisations. New statistics from the OAIC show there was a total of 1113 notifications ...

Vision Super defends new but 'archaic' policy

ELIZA BAVIN  |  TUESDAY, 13 MAY 2025
... disclosing personal information to an overseas recipient, reasonable steps must be taken to ensure that the recipient does not breach the APPs in relation to that information," a Vision Super spokesperson told Financial Standard. "To uphold these obligations ...

Macquarie reprimanded again for derivatives compliance failures

KARREN VERGARA  |  WEDNESDAY, 7 MAY 2025
ASIC is again taking action against Macquarie Bank for "multiple and significant compliance failures" relating to its futures-dealing business and over-the-counter (OTC) derivatives trade reporting. The failures have been undetected for many years ...

HMC Capital progresses re-tenancy of Healthscope hospitals

KARREN VERGARA  |  TUESDAY, 6 MAY 2025
... offloaded all its interest to HMC in the 11 private hospitals leased to Healthscope. In early March, HCW and UHF issued breach notices to Healthscope for failing to pay rent due for the month. "Part payment of the rent has been received. HCW and UHF ...

ASIC cancels licence of Brite Advisors

ANDREW MCKEAN  |  MONDAY, 5 MAY 2025
ASIC has cancelled the Australian financial services licence of Brite Advisors after the now-defunct investment and pension firm failed to compensate a client, triggering a payout under the Compensation Scheme of Last Resort (CSLR). The regulator cancelled ...