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Showing 151 - 160 of 402 results for "Justice"

Mayfair sues Mission Beach lender

ELIZABETH MCARTHUR  |  THURSDAY, 14 APR 2022
... Federal Court chose to restrain Mawhinney from promoting and raising funds through financial products for 20 years after Justice Anderson found Mawhinney had been "involved in multiple contraventions" of financial services law. The judge described Mawhinney's ...

Mawhinney appeals 20-year ban

ELIZABETH MCARTHUR  |  MONDAY, 11 APR 2022
... Federal Court chose to restrain Mawhinney from promoting and raising funds through financial products for 20 years after Justice Anderson found Mawhinney had been "involved in multiple contraventions" of financial services law. The judge described Mawhinney's ...

BT Funds Management fined $20m

JAMIE WILLIAMSON  |  FRIDAY, 8 APR 2022
... one of the six filed by ASIC at once in November 2021 and the first to see a judgement. In handing down his decision, Justice Beach made note of the fact the unlawful deduction of amounts from member accounts eroded their super balances. The commissions ...

Labor vows to review YFYS test

RACHEL ALEMBAKIS  |  FRIDAY, 8 APR 2022
... said. "Benchmarking is right, we think the metrics we have in place over the long term are not. They're doing rough justice at the moment, but if left alone for another decade, they'll do more rough than justice. "We will definitely look at some ...

Westpac fined $1.5m for mis-selling insurance

ANDREW MCKEAN  |  FRIDAY, 8 APR 2022
... seek significantly increased penalties for misconduct related to the mis-selling of consumer credit insurance products. Justice Katzman believed the issued penalty was appropriate but also considered the contraventions as undeliberate and not reckless ...

Aware Super advice arm to pay $20m fine

CHLOE WALKER  |  FRIDAY, 18 FEB 2022
... holder to act efficiently, honestly and fairly and to comply with financial services laws. In handing down his decision, Justice Moshinsky concluded that Aware FS's conduct was serious and systematic. His Honour also highlighted the large number ...

PE Capital in liquidation

KARREN VERGARA  |  THURSDAY, 10 FEB 2022
... preferential securities when they did not, and in the case of one fund misrepresented the investment strategy that would be used. Justice Cheeseman ordered the following MISs, which were registered, to be wound up: PE Capital Monthly Yield Fund, and ...

RI Advice slapped with $6m penalty

KARREN VERGARA  |  FRIDAY, 4 FEB 2022
... financial services licensees to properly monitor the advice given by their advisers to make sure consumers are protected." Justice Moshinsky determined that RI Advice, a former ANZ subsidiary that is now owned by IOOF, did not have processes to identify ...

Mayfair 101 files new appeal

ELIZABETH MCARTHUR  |  TUESDAY, 25 JAN 2022
... deposit'. Investors have lost about $211 million in these Mayfair products. In handing down the $30 million fine, Justice Anderson said: "The defendants deliberately misled investors into investing in the Mayfair Products under the belief that they ...

Federal Court imposes $4m penalty on industry fund

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
... and $500,000 for failing to report the breach to ASIC. In handing down the reasons for his decision yesterday in court, Justice Besanko noted that while Statewide's conduct was not deliberate, the contraventions of the law were serious. His Honour ...