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Showing 131 - 140 of 566 results for "Civil"

Expect more greenwashing action: ASIC

RACHEL ALEMBAKIS  |  FRIDAY, 3 MAR 2023
... compliance and legal, investment and operations because all parts of the financial process have answers, he said. "This is a civil penalty proceeding," Steffanoni said. "With cases alleging misleading and deceptive conduct, ASIC will have to prove that ...

Victim access to super should be extended: Associations

JAMIE WILLIAMSON  |  TUESDAY, 21 FEB 2023
... and companies. It is conceivable, for example, that a successful criminal prosecution of a partner may lead to follow-up civil action against their partnership," they added. "Similarly, criminal action against a specific director could lead to follow-up ...

ASIC takes civil action against Firstmac

CASSANDRA BALDINI  |  FRIDAY, 16 DEC 2022
... financial product distributor for alleged breaches of design and distribution obligations (DDO). The regulator commenced the civil penalty action in the Federal Court against Firstmac Limited following its first DDO court action filed earlier this month ...

Adviser imprisoned for super fraud

CHLOE WALKER  |  THURSDAY, 15 DEC 2022
... retained up to 100% of the pay out in fees before forwarding the balance to the consumers. In September 2020, ASIC took civil action against Goel, restraining him from leaving the jurisdiction, requiring him to surrender his passports and freezing his ...

ASIC proceedings name Pendal board member

ANDREW MCKEAN  |  TUESDAY, 13 DEC 2022
ASIC has started civil penalty proceedings against 11 current and former directors and executives of Star Entertainment Group, including a Pendal Group director. ASIC deputy chair Sarah Court argued that the Star's board and executives failed to ...

ASIC launches civil action against American Express

CASSANDRA BALDINI  |  TUESDAY, 6 DEC 2022
ASIC has commenced the first ever court case in relation to alleged breaches of design and distribution obligations (DDO). The case concerns two credit cards issued by American Express (Amex) that were co-branded with retailer David Jones (the credit ...

DASS clients pushed to accept paltry recoupment

ANDREW MCKEAN  |  FRIDAY, 2 DEC 2022
... make adverse findings in relation to claims of Dixon Advisory clients and because of the costs associated with defending civil proceedings against the company regarding the US Masters Residential Property Fund (URF). In September, Dixon Advisory was ...

ASIC sues crypto fintech over unlicensed advice

JAMIE WILLIAMSON  |  THURSDAY, 24 NOV 2022
... is taking a fintech to court for providing unlicensed financial advice on crypto-asset products. The regulator commenced civil penalty proceedings in Federal Court against Block Earner, an authorised representative of Flash Partners and AUSTRAC-registered ...

ASIC sues BPS Financial over crypto claims

CASSANDRA BALDINI  |  TUESDAY, 25 OCT 2022
ASIC has commenced civil penalty proceedings in the Federal Court against BPS Financial (BPS). The regulator alleged BPS made false, misleading, or deceptive representations and engaged in unlicensed conduct in relation to a non-cash payment facility ...

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
... accountability obligations and ensures that where these obligations are not met, appropriate consequences will follow, including civil penalties for financial institutions and disqualification of senior executives as accountable persons." By implementing ...