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Showing 201 - 210 of 2448 results for "Court"

Three AFS licensees pinged over compliance breaches

ANDREW MCKEAN  |  WEDNESDAY, 9 APR 2025
... account when determining its enforcement approach, which may explain why the $31,300 penalty is half the $62,200 maximum a court can impose for each contravention. The registration requirement has applied since February 16. It requires a relevant provider ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... (AFSL). In cancelling UGC's licence, ASIC required it to remain a member of AFCA until at least May 31. The Federal Court ordered the wind up of the Global Capital Property Fund (GCPF) last October. GCPF invested in large-scale property development ...

APRA hits ANZ with $1bn capital penalty

ELIZA BAVIN  |  THURSDAY, 3 APR 2025
The Australian Prudential Regulatory Authority (APRA) has accepted a Court Enforceable Undertaking (CEU) from ANZ to address ongoing weaknesses in the bank's non-financial risk management practices and risk culture. APRA also increased the capital add-on ...

Court approves Caddick SMSF class action settlement

KARREN VERGARA  |  WEDNESDAY, 2 APR 2025
The Federal Court has approved the settlement amount of $3.54 million for Melissa Caddick victims who brought a class action against auditors that failed to detect fraudulent activities in their SMSFs. Michael Chapman, a director at Mackay Chapman ...

iExtend appoints chief operating officer

ELIZA BAVIN  |  WEDNESDAY, 2 APR 2025
... facilitating future business growth built on these strong foundations." iExtend received its AFSL in July 2024, after entering a court enforceable undertaking over concerns of unlicensed conduct. In November 2023, the life insurance startup entered a ...

ASIC freezes assets Shield, First Guardian marketer

KARREN VERGARA  |  WEDNESDAY, 19 MAR 2025
... development pipeline of five-star resorts worth $1 billion in places such as Port Douglas, Fiji, and Venice. ASIC said the "court made the orders with Alshakshir's consent" and the "orders are in place until further order." On January 20, ASIC sought ...

Active Super fined $10.5m for greenwashing

KARREN VERGARA  |  TUESDAY, 18 MAR 2025
... credentials purported to eliminate investments in Russian companies and others involved in mining and tobacco, the Federal Court determined this morning. Justice O'Callaghan said it is not disputed that the super fund's "contraventions were serious" ...

Falcon Capital, First Guardian Master Fund set for liquidation

KARREN VERGARA  |  TUESDAY, 18 MAR 2025
... manager to director David Anderson's personal property. The regulator has put into motion the applications to the Federal Court while it continues to investigate allegations against the parties that allegedly failed to manage conflicts of interest. ...

Mercer adds to wealth team

ELIZABETH FRY  |  THURSDAY, 13 MAR 2025
... Morgan spent four years at Mercer in Australia as the head of institutional sales and strategy. Separately, FIIG will face court over allegations of longstanding cybersecurity failures which saw the private data of more than 18,000 clients stolen and ...

BUSSQ abandons appeal, concedes to licence conditions

ANDREW MCKEAN  |  THURSDAY, 13 MAR 2025
BUSSQ has pulled the plug on its Federal Court appeal for a judicial review of APRA's additional licence conditions, caving to the regulator's edict. At the same time, APRA has tweaked the conditions it slapped on BUSSQ last August, which force ...