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Showing 261 - 270 of 668 results for "Penalty"

La Trobe fined for misleading investors

ELIZABETH MCARTHUR  |  MONDAY, 29 NOV 2021
... investors in its $5 billion fund. The Federal Court has ordered La Trobe Financial Asset Management to pay a $750,000 penalty for false and misleading marketing of the La Trobe Australian Credit Fund, a $5 billion fund which invests in Australian mortgages ...

Plaintiff seeks to ring fence Dixon penalty

KARREN VERGARA  |  THURSDAY, 25 NOV 2021
... plaintiff in the Piper Alderman-led class action against Dixon Advisory is attempting to ring fence the $7.2 million civil penalty determined by ASIC. Kosen-rufu, an applicant in a class action against Evans & Dixon (now E&P Financial Group) and subsidiary ...

MLC to face court over insurance failures

JAMIE WILLIAMSON  |  FRIDAY, 19 NOV 2021
ASIC is suing MLC over insurance failures spanning more than 20 years. The regulator commenced civil penalty proceedings in the Federal Court for insurance policy and service failures that occurred between 1999 and 2020. The action is against MLC Limited ...

E&P Financial Group hit with class action

KARREN VERGARA  |  THURSDAY, 4 NOV 2021
... dropped its Federal Court case against EP1's financial advice arm and instead ordered DASS to pay $7.2 million in penalty and $1 million to cover its legal costs. EP1 said that it is reviewing Piper Alderman's claims and intends to defend itself. ...

ASIC sues timeshare company

KARREN VERGARA  |  WEDNESDAY, 3 NOV 2021
... due to lack of availability. This is the first time ASIC has acted against a timeshare company and has commenced civil penalty proceedings. ASIC classifies timeshare schemes as managed investment schemes and financial products that involve property in ...

CBA pleads guilty to selling junk insurance

ANNABELLE DICKSON  |  MONDAY, 1 NOV 2021
... necessary because the industry did not put customers front and centre." Between October 2011 and July 2015, the maximum penalty for these offences increased from $1,100,000 to $1,700,000 per offence.

ASIC sues former Freedom Insurance staff

KARREN VERGARA  |  MONDAY, 25 OCT 2021
... consultant will head to Federal Court for their alleged involvement in aggressive sales tactics. ASIC has commenced civil penalty proceedings against former Freedom Insurance managing director of Keith Cohen and quality control manager Robert Oayda for ...

CFS fined $20m over super misconduct

JAMIE WILLIAMSON  |  TUESDAY, 19 OCT 2021
... 13,000 regarding investment decisions, possibly deterring them from moving to a cheaper MySuper product. "The $20 million penalty handed down to Colonial is a timely reminder to superannuation trustees not to mislead members for their own benefit. Trustees ...

EISS Super answers tough questions

ELIZABETH MCARTHUR  |  TUESDAY, 12 OCT 2021
... MySuper product was to offer a product under our PDS that reflected a more conservative focus. We've probably paid the penalty for having that focus, but it is something we've amended in the last few years," he said. The failing funds were AMG ...

ASIC chases $12m from Mayfair

ELIZABETH MCARTHUR  |  THURSDAY, 7 OCT 2021
... regulator has interviewed him. "Due to a range of ASIC's actions, we have been unable to fund a legal defence until this penalty hearing [...] ASIC even challenged our ability to obtain funding to pay for legal representation. We are now fighting back ...