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Showing 131 - 140 of 802 results for "Judge"

FAAA names inaugural awards finalists

CASSANDRA BALDINI  |  WEDNESDAY, 11 OCT 2023
The Financial Advice Association Australia (FAAA) has announced the 2023 finalists for its suite of awards, to be presented at its annual Professionals Congress in November. The newly merged entity has launched its inaugural awards, spanning six categories. ...

Adviser cops 10-year sentence

KARREN VERGARA  |  FRIDAY, 6 OCT 2023
... financial adviser who took more than $10 million from clients to fund his lavish lifestyle will spend the next 10 years in jail. Judge Wraight sentenced Terence Rio Nugara to nine years and 11 months imprisonment at the Victoria County Court yesterday. ...

ASIC bans former risk adviser

CASSANDRA BALDINI  |  THURSDAY, 5 OCT 2023
Former insurance adviser John Durant has been banned by the regulator for three years after he was found to have told clients to deposit insurance premiums directly into his personal account. Durant is prohibited from providing financial services, controlling ...

Platform fees, poor resourcing a red flag for regulator

JAMIE WILLIAMSON  |  TUESDAY, 3 OCT 2023
The chief executives of major platform operators in the UK have received letters from the regulator, flagging concerns around poor disclosure of fees and under-investment in technology. In the letter, the Financial Conduct Authority's director of consumer ...

AMP challenges BOLR court ruling

KARREN VERGARA  |  WEDNESDAY, 27 SEP 2023
AMP is appealing the Federal Court's Buyer of Last Resort (BOLR) ruling that determined in favour of AMP Financial Planning advisers who saw the valuations of businesses slashed by 40%. AMP filed a Notice of Appeal in the Federal Court yesterday ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... accounts and 513 business accounts. The actual issue began in 2001 and resulted in about $9 million in remediation paid. The judge said NAB "unjustifiably advanced its self-interest whilst knowing that its customers were oblivious to the wrongful charging ...

RBA holds cash rate at 4.1%

CASSANDRA BALDINI  |  WEDNESDAY, 6 SEP 2023
... market is loosening, wage growth remains contained and that inflation has continued to fall," they said. "It would be fair to judge that, at this stage, the economy is tracking in what the governor has previously described as the narrow pathway to a ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... return by 31 December 2023." The parties participated in a mediation on 29 June 2023, facilitated by former Federal Court judge Peter Jacobson. This was their second attempt at mediation, but they were unable to reach an agreement until AMP announced ...

FSCP issues slap on the wrist to adviser

KARREN VERGARA  |  FRIDAY, 11 AUG 2023
The Financial Services and Credit Panel reprimanded a financial adviser who inadequately assessed the consequences of rolling over superannuation and life insurance cover, labelled the panel's least serious disciplinary action yet. Keeping the adviser's ...

AMP provisions $50m in response to class action

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
Amid the Financial Adviser Class Action fallout, AMP has suspended its capital return, with a resolution expected by year-end. AMP has set aside a $50 million provision, reflecting its preliminary assessment of potential liabilities associated with ...