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Showing 151 - 160 of 682 results for "Proceedings"

ASIC takes legal action against crypto exchange

ANDREW MCKEAN  |  THURSDAY, 21 SEP 2023
ASIC has commenced civil penalty proceedings against Bit Trade, provider of crypto exchange Kraken, following alleged failures to adhere to design and distribution obligations for margin products offered to Australian customers. Since the introduction ...

Treasury consults on PwC-linked reforms

CASSANDRA BALDINI  |  WEDNESDAY, 20 SEP 2023
... and firms that promote tax avoidance. Further, it will increase the time limit for the ATO to bring Federal Court proceedings on promoter penalties from four years to six years after the conduct occurred. The new legislation will also increase the power ...

AustralianSuper sued over multiple accounts

JAMIE WILLIAMSON  |  FRIDAY, 8 SEP 2023
... undetected. The average impacted member was to receive $650. Now, the corporate regulator has launched civil penalty proceedings against the nation's largest superannuation fund, saying the fund failed to have adequate policies and procedures to ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... practices the proceeding years, and ultimately found that most retail clients lose money trading CFDs. "Our recent penalty proceedings against a CFD issuer is our third DDO-related civil penalty proceeding. This follows our previously commenced proceedings ...

Financial hardship neglect lands Westpac in court

KARREN VERGARA  |  TUESDAY, 5 SEP 2023
... customer hardship requests over seven years, for which the bank blames "technology failure". ASIC commenced civil penalty proceedings in the Federal Court, alleging that Westpac failed to respond to hardship notices within 21 days as required by law. ...

Sequoia liquidates Libertas Financial Planning

KARREN VERGARA  |  FRIDAY, 1 SEP 2023
... impact of legal costs and insurance), and have chosen not to disclose the likely amount as they are still subject to proceedings with AFCA and potential recourse from the advisers, and the disclosure of such amounts is likely to prejudice those proceedings," ...

Legacy issues, business overhaul plague E&P results

KARREN VERGARA  |  FRIDAY, 25 AUG 2023
... challenges negatively impacted the group's financial performance, which includes regulatory investigations and proceedings related to legacy issues; the ongoing impact of the appointment of voluntary administrators to DASS in January 2022 and subsequent ...

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... Limited and its subsidiaries, including AMP Services, NM Super, AMP Super, and AWM Services, were served with legal proceedings in the Supreme Court of New South Wales by Munich Re in April 2023. Central to the proceedings is the manner in which both ...

Active Super to face action over greenwashing

RACHEL ALEMBAKIS  |  FRIDAY, 11 AUG 2023
... after the invasion of Ukraine while purporting otherwise to members. The markets regulator has commenced civil penalty proceedings alleging "misleading conduct and misrepresentations to the market relating to claims it was an ethical and responsible ...

ASIC sues debt management firm, director

CHLOE WALKER  |  THURSDAY, 10 AUG 2023
... debt reduction and some payments made by customers were never even passed on to their creditors. ASIC has commenced proceedings in the federal court against Bakken Holdings Pty Ltd (Bakken), an operator of the debt management business Solve My Debt Now ...