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Showing 191 - 200 of 726 results for "Proceedings"

Financial services firms hit with criminal charges

CHLOE WALKER  |  TUESDAY, 31 OCT 2023
Two businesses tied to permanently banned Sydney director David Sutton have been charged in separate proceedings following an investigation by ASIC. APC Securities, previously known as McFaddens Securities, and Brava Capital, formerly Dayton Way Securities ...

Piper Alderman investigates second CFD class action

CHLOE WALKER  |  WEDNESDAY, 25 OCT 2023
... found that most of these clients earned less than $80,000 a year. In recent years, ASIC has also successfully brought proceedings for breach of the Corporations Act against several CFD licensees operating in Australia, with penalties in excess of $75 ...

ASIC loses case against Diversa

JAMIE WILLIAMSON  |  TUESDAY, 24 OCT 2023
... about a now banned adviser's dodgy behaviour but failed to act. In October 2021, ASIC commenced civil penalty proceedings against Diversa, alleging it had breached the law by allowed Australian Super Find, the Australian Dealer Group, and financial ...

AMP challenges BOLR court ruling

KARREN VERGARA  |  WEDNESDAY, 27 SEP 2023
... advice Matt Lawler said: "While we believe we have grounds on which to appeal, we also recognise the ongoing impact the proceedings are having on practices, with whom we've worked hard to rebuild strong and trusted relationships."

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," ...