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Showing 171 - 180 of 1676 results for "Breach"

Federal Court approves AMP BOLR class action settlement

KARREN VERGARA  |  MONDAY, 9 SEP 2024
... account for its actions." They also want AMPFP to be brought to a public trial, given that it "behaved unconscionably and in breach of the trust, confidence and goodwill that once existed between AMPFP and its network of authorised representatives." ...

Court appoints receivers to Keystone, Master Shield Fund

MATTHEW WAI  |  MONDAY, 9 SEP 2024
The Federal Court has appointed new receivers and administrators to Keystone Asset Management, as ASIC attempts to identify where more than $100 million of investors' money has gone. The Federal Court appointed Jason Tracy and Lucica Palaghia of ...

APRA alleges First Super co-chair breached director duties

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2024
First Super co-chair Michael O'Connor has stepped down following allegations by APRA that he breached his duties as a director in relation to a contract between the fund and the Construction, Forestry and Maritime Employees Union (CFMEU). In addition ...

ASIC cancels AFSL of foreign exchange contracts issuer

ELIZA BAVIN  |  THURSDAY, 5 SEP 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFLS) of contracts for difference (CFDs) and foreign exchange contracts issuer, FXOpen AU. ASIC said the decision to cancel the licence ...

Former adviser cops 12 years' imprisonment

KARREN VERGARA  |  TUESDAY, 27 AUG 2024
... and that his actions "were not only criminal but evil, demonstrating no remorse". Judge Moynihan found evidence of gross breach of trust and that the victims have suffered and continue to suffer substantial personal and financial harm. Jayaweera will ...

Former BBY employee sentenced for 'dishonest conduct'

MATTHEW WAI  |  WEDNESDAY, 21 AUG 2024
... and Futures client segregated account, respectively, to fund a payment owed by the company. The above transfers were in breach of BBY's obligation to hold that client money on trust. The sum was not repaid to the relevant client money accounts and contributed ...

Recordkeeping breach costs RBC, BNY Mellon US$85m

KARREN VERGARA  |  FRIDAY, 16 AUG 2024
RBC Capital Markets and BNY Mellon are among the firms that will collectively pay a whopping US$390 million ($589m) to the Securities and Exchange Commission (SEC) for recordkeeping failures. RBC Capital Markets will pay US$45 million ($68m) while BNY ...

ASX lifts revenue amid lower listings, capital raises

KARREN VERGARA  |  FRIDAY, 16 AUG 2024
The ASX earned record revenue of $1.03 billion in the 2024 financial year despite a volatile period for equity markets and lower capital raising. Total revenue grew 2.4% from the prior corresponding period, largely driven by the exchange's markets ...

Misconduct cases soar at CBA

ELIZA BAVIN  |  WEDNESDAY, 14 AUG 2024
... or other sex-based harassment, two were a result of bullying, 41 were around fraud or theft and 2198 were a result of "breach of role expectations, policy or process". Out of the thousands of cases of misconduct, just 180 resulted in the termination ...

APRA reprimands Cbus, BUSSQ over governance issues

ANDREW MCKEAN  |  WEDNESDAY, 14 AUG 2024
APRA has imposed additional licence conditions on Cbus and BUSSQ over governance concerns in the wake of the CFMEU scandal. The prudential regulator's additional licence conditions stipulate that Cbus' trustee, United Super, and BUSSQ bring ...