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| | | ... in regulatory enforcement proceedings, appear to feel unconstrained by how the matter was conducted at first instance," Judge Derrington said. "Appeals by way of rehearing are not de novo proceedings. Rather, they are for the correction of error." Justice ... |
| | | | HSBC Bank Australia has been hit with a $35 million penalty after admitting to widespread and systemic failures in protecting customers from scams. Following a Federal Court hearing in Melbourne on June 18, Justice Bennett handed down the penalty and ... |
| | | | ASIC has successfully appealed a ruling against Block Earner in relation to its fixed-yield digital asset-related product (Earner), which was previously not deemed a financial product. The High Court of Australia has unanimously found that Earner was ... |
| | | | The Reserve Bank of Australia (RBA) kept interest rates on hold at 4.35% at its June meeting, in line with market expectations. "Following the three increases in the cash rate target since the beginning of the year, financial conditions are now tighter ... |
| | | | U Ethical Investors has appointed veteran funds management executive Stuart James as head of distribution, as the firm continues to build out its leadership team and pursue its next phase of growth. James joins U Ethical's leadership team with responsibilities ... |
| | | | The Australian Securities and Investments Commission (ASIC) has permanently banned former Brite Advisors responsible manager Gerard Duffy from providing financial services after determining it had reason to believe he was not a fit and proper person. ... |
| | | | ... "non-selling shareholders" who didn't participate in the data leaks, it should be treated differently. However, the judge dismissed this claim, ruling that each investor group is run by a single manager who acts as the sole point of contact. Dexus ... |
| | | | Dexus has been ordered to sell its stake in major airports following a court order, underscoring a win for the IFM Investors-backed lawsuit. Last week, the NSW Supreme Court ruled Dexus must commence the "compulsory process to offer for sale the shares ... |
| | | | ... files, and debts to be sold to third-party debt purchasers who then engaged actively in conduct to pursue those debts," the judge said. "These circumstances add an additional layer of harm, and significance, to Westpac's conduct." Furthermore, Justice ... |
| | | | ... ordered to pay to the Commonwealth the amount of $309,571.84. The court allowed the appeal on the grounds the sentencing judge erred in finding that Forrest's false denials when initially interviewed by ASIC affected the assessment of the objective seriousness ... |
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