Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 231 - 240 of 2448 results for "Court"

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
... representatives and corporate authorised representatives (CARs), following an ASIC investigation. Sanlam has subsequently entered a court enforceable undertaking and will need an ASIC-approved independent expert to review its processes and systems. The ...

Court sentences Ponzi scheme promoter

KARREN VERGARA  |  MONDAY, 23 DEC 2024
The Federal Court has sentenced the promoter of Courtenay House for his involvement in one of the country's biggest Ponzi schemes. David Sipina was handed down three years' imprisonment to be served via an intensive correction order after pleading ...

Court finds CFD issuers engaged in 'unconscionable conduct'

ELIZA BAVIN  |  MONDAY, 23 DEC 2024
The Federal Court has found that collapsed contracts for difference (CFD) issuer, Union Standard International Group (USG) and two of its former corporate authorised representatives, BrightAU Capital (trading as TradeFred) and Maxi EFX Global AU (trading ...

What you read in 2024

ELIZA BAVIN  |  FRIDAY, 20 DEC 2024
... incidents and breaches since they partnered which have had a material impact on the fund and its members. ESSSuper filed Federal Court proceedings against Iress and its Financial Synergy Holdings subsidiary, claiming material breaches of contract and ...

ASIC sues Binance over customer protection failures

ELIZA BAVIN  |  THURSDAY, 19 DEC 2024
ASIC is taking Binance Australia to court alleging it denied more than 500 retail clients important consumer protections by misclassifying them as wholesale clients. ASIC alleges from 7 July 2022 to 21 April 2023, Binance offered crypto derivative products ...

ASIC sues HSBC Australia over $23m scam losses

MATTHEW WAI  |  MONDAY, 16 DEC 2024
ASIC has launched legal proceedings against HSBC Bank Australia in the Federal Court, alleging the latter failed to "adequately protect customers", resulting in losses of about $23 million through nearly 1000 unauthorised transactions. ASIC said the ...

Crypto operator to fork out millions after court ruling

ANDREW MCKEAN  |  FRIDAY, 13 DEC 2024
... repaid in either digital assets like bitcoin or national currencies, without a target market determination (TMD). The Federal Court, however, found that the product was a credit facility and therefore required a TMD, meaning each time it was offered ...

Dexus terminates Core Property Fund

JAMIE WILLIAMSON  |  WEDNESDAY, 11 DEC 2024
... its Regional Property Fund following the sale of its assets to RF Corval earlier this year. Also last month, the Supreme Court of NSW ruled that Cbus and UniSuper, the co-owners of Macquarie Centre, one of the Dexus Wholesale Shopping Centre Fund's ...

Settlement reached in Caddick class action

ELIZA BAVIN  |  MONDAY, 9 DEC 2024
A settlement has been reached in the class action filed in the Federal Court against auditors for SMSFs run by Melissa Caddick. The class action - led by Melbourne-based law firm Mackay Chapman - was filed on behalf of 21 original group members. Just ...

MLC trustees to pay $65m in MySuper class action settlement

JAMIE WILLIAMSON  |  FRIDAY, 6 DEC 2024
... fees and commissions to financial advisers that would have been banned in a MySuper option. In December 2020, the Supreme Court of Victoria ruled the case invalid saying prospective losses are not considered a loss under s 55(3) of the SIS Act. The case ...