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Showing 151 - 160 of 770 results for "Federal Court"

Aware Super advice arm to pay $20m fine

CHLOE WALKER  |  FRIDAY, 18 FEB 2022
... arrangements that included provision of an Annual Review Service. However, the services were never delivered. The Federal Court found that by charging fees for no service and failing to have internal procedures, measures, and controls in place to monitor ...

AMIST criticised for SPC investment

ELIZABETH MCARTHUR  |  THURSDAY, 10 FEB 2022
... group said. Shahin also sits on the board of Crescent Wealth. The class action against OTR is ongoing, with the Federal Court approving a timeline for proceedings in December 2021.

PE Capital in liquidation

KARREN VERGARA  |  THURSDAY, 10 FEB 2022
PE Capital Funds Management is now in liquidation after the Federal Court found that it operated managed investment schemes without an AFSL and engaged in misleading and deceptive conduct. The court found that over $16 million was invested in the registered ...

RI Advice slapped with $6m penalty

KARREN VERGARA  |  FRIDAY, 4 FEB 2022
... failing to keep tabs on a representative who invested clients' money in risky and complex financial products. The Federal Court found that RI Advice failed to take the appropriate steps to ensure that former adviser John Doyle acted in clients' ...

Mayfair 101 files new appeal

ELIZABETH MCARTHUR  |  TUESDAY, 25 JAN 2022
Mayfair 101 has confirmed it will appeal the 2021 Federal Court decision that found its advertising misled and deceived investors. The notice of appeal was filed on the same day Mayfair was fined $30 million for the misconduct. Mayfair's appeal claims ...

E&P pulls the plug on DASS

KARREN VERGARA  |  WEDNESDAY, 19 JAN 2022
... AFCA, as well as civil penalties agreed between DASS and ASIC. Piper Alderman commenced the class action in the Federal Court last November, defending investors who received dodgy advice in the group's beleaguered ASX-listed US Masters Residential ...

Federal Court imposes $4m penalty on industry fund

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
The Federal Court has imposed combined penalties of $4 million on Statewide Super for providing members with misleading information regarding their insurance and failing to report the issue to ASIC in the time required. Between 2017 and 2020, Statewide ...

Financial watchdog warns on crypto

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
... million was transferred from A One Multi to buy crypto-assets. ASIC obtained interim orders and injunctions from the Federal Court in Queensland against A One Multi and its directors Aryn Hala and Heidi Walters to protect investors.

Federal Court fines Mayfair $30m

CHLOE WALKER  |  THURSDAY, 23 DEC 2021
... Mayfair Platinum), Online Investments (trading as Mayfair 101), M101 Nominees and M101 Holdings. In April 2021, the Federal Court restrained Mawhinney from advertising and raising funds through financial products for 20 years. Mayfair 101 Group products ...

Disgraced former fund manager chief declared bankrupt

JAMIE WILLIAMSON  |  TUESDAY, 21 DEC 2021
... - later known as Octaviar - has been declared bankrupt after he failed to pay a penalty to ASIC of $300,000. The Federal Court made the order against Michael Christodoulou King based on the unpaid penalty even though such a debt is not one provable in ...