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Showing 251 - 260 of 1333 results for "Corporations"

Treasury consults on giving AFCA more super powers

JAMIE WILLIAMSON  |  TUESDAY, 23 MAY 2023
... related to superannuation, following the Federal Court's MetLife decision. As it stands, under Part 7.10A of the Corporations Act, AFCA has certain statutory powers to deal in superannuation complaints, with these powers broadly mirroring those of the ...

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
... life insurer was penalised by the Federal Court after it was found guilty of several breaches of the ASIC Act, the Corporations Act, and the Insurance Contracts Act between November 2015 and October 2018. At the time, MLC provided income protection cover ...

Finfluencer receives jail sentence

CASSANDRA BALDINI  |  THURSDAY, 4 MAY 2023
... dump" felony has triggered the very first sentencing of a social media personality in Australia under s1041D of the Corporations Act, following findings he used 13 different share trading accounts, held in the names of friends and relatives, to manipulate ...

Apple dives deeper into financial services

CASSANDRA BALDINI  |  TUESDAY, 18 APR 2023
... average, is the latest move in a string of tech giants moving into financial services and taking on traditional banking corporations. In its announcement, Apple said with no fees, no minimum deposits, and no minimum balance requirements, users can "easily" ...

Finfluencer barred from running online advice business

CHLOE WALKER  |  FRIDAY, 14 APR 2023
... permanent injunctions placed on the finfluencer. Late last year, the Court found Scholz had contravened s911A of the Corporations Act by carrying on an unlicensed financial service business between March 2020 and November 2021. During the time of misconduct ...

ASIC cans Binance AFSL

KARREN VERGARA  |  TUESDAY, 11 APR 2023
... that Binance came forward to have its licence cancelled after it was issued a notice of hearing under s915C of the Corporations Act 2001 that considers if an AFSL should be cancelled or not. Oztures Trading's AFSL enabled it to issue and make a market ...

Linchpin, Endeavour directors found guilty

JAMIE WILLIAMSON  |  TUESDAY, 4 APR 2023
... ASIC noted. At the time of the offences, the maximum penalties for each breach of director's duties under the Corporations Act was $200,000 per individual. "These individuals were officers of an investment scheme that raised $17 million. They were ...

ASIC investigates CHESS replacement blunder

KARREN VERGARA  |  WEDNESDAY, 29 MAR 2023
... underpins it. ASIC is investigating if the exchange and its directors breached obligations under several sections of the Corporations Act. This includes breaching duties of care and diligence, which under section 180 is a civil obligation, and continuous ...

ASIC revisits IDPS sunsetting orders

ANDREW MCKEAN  |  TUESDAY, 28 MAR 2023
... These class orders provide relief for IDPS' and IDPS-like schemes, enabling them to adapt the requirements of the Corporations Act 2001 to suit their specific structures. The class orders address investor-driven investment and ensure a segregated portfolio ...

Lending to small businesses increases: Survey

KARREN VERGARA  |  MONDAY, 20 MAR 2023
... medium enterprises are around twice as likely to default on their loans compared to mortgage customers and large corporations. Despite the narrowing spread between small and large business interest rates, recent increases in lending rates could have ...