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Showing 201 - 210 of 803 results for "Judge"

La Trobe fined for misleading investors

ELIZABETH MCARTHUR  |  MONDAY, 29 NOV 2021
... of the investment options - both as to the entitlement to withdraw funds and the risk of loss of capital invested," the judge presiding over the case, Justice O'Bryan, said. "Each of the representations was made over periods ranging from about one ...

APRA hones in on post-retirement products

KARREN VERGARA  |  TUESDAY, 23 NOV 2021
APRA is adamant that retirement income products will not suffer the same fate as income protection insurance as it looks to tighten its belt in regulating the post-retirement phase. The prudential regulator's deputy chair Helen Rowell spoke of the ...

E&P Financial Group director steps down

ANNABELLE DICKSON  |  WEDNESDAY, 17 NOV 2021
E&P Financial Group bid farewell to an independent non-executive director and appointed its chief executive as managing director. Kevin McCann joined the board in 2020 and was lead independent director, chair of the people, nomination and remuneration ...

No proof of member benefit: APRA on super fund spends

JAMIE WILLIAMSON  |  TUESDAY, 26 OCT 2021
APRA has found instances of expenditure by superannuation funds that does not meet the best financial interests of members, including sponsorship deals and advertising spends with no evidence of member benefit. Releasing its review of RSE licensee marketing ...

Former Dover adviser banned

ANNABELLE DICKSON  |  THURSDAY, 21 OCT 2021
The corporate regulator handed down a six-year ban from providing financial services to a Melbourne-based financial adviser for failing to provide appropriate advice. Ashok Sherwal advised clients in need of cash to replace their existing insurance ...

CFS fined $20m over super misconduct

JAMIE WILLIAMSON  |  TUESDAY, 19 OCT 2021
... effect, seeking to take advantage of members whose interests it was, as trustee of the fund, duty-bound to protect". The judge said CFS failed to inform members that it was required to transfer their account to a MySuper product if they didn't make ...

CBA completes review, sued by FWO

ANNABELLE DICKSON  |  TUESDAY, 12 OCT 2021
Commonwealth Bank finalised its three-year action plan by implementing recommendations from a prudential inquiry to improve its governance and culture. At the same time, it has been slammed with court proceedings for underpaying staff over $16 million. ...

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  TUESDAY, 28 SEP 2021
The corporate regulator banned a Gold Coast-based financial adviser from providing financial services for four years and cancelled the associated AFSL for failure to comply with its general obligations. ASIC found that Frederick Steven Ackerman failed ...

Economic recap: Week to September 24

BENJAMIN ONG  |  MONDAY, 27 SEP 2021
Financial markets have been on edge ever since they got the first whiff of "taper" in the air. This started when the minutes of the US Federal Reserve's April 27-28 FOMC meeting revealed that: "A number of participants suggested that if the economy ...

Former adviser banned after super theft

JAMIE WILLIAMSON  |  FRIDAY, 17 SEP 2021
... have used the stolen funds for holidays, rent, paying his own credit card debts and repaying personal loans. The presiding judge labelled Hopkins' conduct "deeply stupid" but also said that "being stupid is no defence or mitigation". Hopkins had pleaded ...