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Showing 231 - 240 of 1605 results for "Investigation"

Unlicensed crypto investor faces jail time

CHLOE WALKER  |  TUESDAY, 6 FEB 2024
... facing imprisonment for running a financial services business without a licence. The charges were filed after an investigation by ASIC, which discovered that Aryn Hala had made promises to customers of annual returns of at least 10-20% on investments ...

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN  |  FRIDAY, 2 FEB 2024
ASIC deputy chair Sarah Court has reaffirmed that the corporate regulator is targeting member service failures, greenwashing, and inappropriate fees and charges, cautioning the superannuation industry to lift its game. At an industry event, Court said ...

ASIC files contempt orders against repeat offender

CHLOE WALKER  |  MONDAY, 29 JAN 2024
... September 2018, despite being disqualified from managing corporations for two and a half years in 2016. Because of the investigation, Financial Circle's AFSL and credit licenses were cancelled in November 2018, and the company was fined $9 million. ...

ME Bank fined $820k for misleading borrowers

CHLOE WALKER  |  MONDAY, 22 JAN 2024
... home loans to customers. The matter, prosecuted by the Commonwealth Director of Public Prosecutions, followed an investigation and referral by ASIC. The regulator found the bank sent 589 letters to home loan customers between 25 May 2018 and 3 September ...

Penta Capital fined for fabricated FUM

KARREN VERGARA  |  MONDAY, 22 JAN 2024
... Avalon Funds Management between 1 September 2022 and 19 April 2023. Avalon Funds Management is not the subject of the investigation, ASIC said.

Investors livid over fresh portfolio valuation: Mayfair 101

JAMIE WILLIAMSON  |  WEDNESDAY, 10 JAN 2024
... spent to "conceal the damage caused by the regulator's misguided campaign." Mayfair 101 has long held that ASIC's investigation into the group and its managing director James Mawhinney was unfounded and claims the speed at which it was carried out is ...

ASIC cracks down on Prospero for reporting failures

CHLOE WALKER  |  WEDNESDAY, 10 JAN 2024
... corporate regulator said. ASIC has been investigating Prospero for suspected breaches of the Corporations Act. Its investigation commenced on 16 November 2023 and is looking back as far as 1 March 2021. In December, Prospero was requested by ASIC to ...

Court finds Canna Campbell infringed trademark

KARREN VERGARA  |  MONDAY, 8 JAN 2024
... objectivity, and fairness, Korolak said. "As a result of this litigation, a complaint has been raised and there is an open investigation by the FAAA into this matter," she said. Korolak said she will pursue various orders against Campbell with respect ...

Former director sentenced to over four years imprisonment

ANDREW MCKEAN  |  THURSDAY, 21 DEC 2023
... prospects of rehabilitation. This matter was prosecuted by the Commonwealth Director of Public Prosecutions following an investigation and referral by ASIC.

Federal Court appoints receivers to investigate Brite Advisors

ANDREW MCKEAN  |  MONDAY, 18 DEC 2023
... initial findings, particularly an unexplained US$69 million discrepancy in client funds, necessitating a more thorough investigation. The court re-made asset preservation orders to restrict Brite's operations, however authorised the receivers to manage ...