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Showing 261 - 270 of 683 results for "Proceedings"

CBA to pay $7m for overcharged interest

ANNABELLE DICKSON  |  THURSDAY, 8 APR 2021
... governance and controls in place to ensure they deliver on promises made to their customers," he said. ASIC first commenced proceedings in November 2020 and noted in its statement of claim the average amount customers were overcharged was about $1476.90 ...

ASIC sues CBA over monthly fees

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
The corporate regulator has commenced civil proceedings against Commonwealth Bank over allegations it wrongly charged monthly fees to customers over a nine-year period. ASIC alleges CBA incorrectly charged $55 million in monthly access fees to nearly ...

Clime revamps strategy

ELIZABETH MCARTHUR  |  WEDNESDAY, 31 MAR 2021
... investors after its successful participation in a class action against UGL. Clime won an $18 million settlement in the proceedings against UGL, which claimed that it breached its continuous disclosure obligations by failing to disclose to the market ...

ASIC drops Caddick charges

ELIZABETH MCARTHUR  |  TUESDAY, 30 MAR 2021
... evidence. ASIC clarified that it had to withdraw the charges against Caddick, as a matter of law, to enable the civil proceedings to go ahead. However, the regulator reserves its rights to reinstate the charges at a later stage. According to the affidavit ...

AFCA left toothless on Mayfair complaints

ELIZABETH MCARTHUR  |  MONDAY, 22 MAR 2021
Mayfair 101 investors who have had their life savings frozen amid ASIC's proceedings have been left to their own devices, partly due to Mayfair not being a member of the Australian Financial Complaints Authority (AFCA). A spokesperson for AFCA told ...

NZ overhauls regulation of advice

JAMIE WILLIAMSON  |  FRIDAY, 19 MAR 2021
... impact the advice. They must also disclose their disciplinary history, including certain criminal convictions and civil proceedings; and, in the case of financial advisers, they must disclose any bankruptcy proceedings within four years of having been ...

Foreign exchange brokers banned

ANNABELLE DICKSON  |  THURSDAY, 18 MAR 2021
... while its former employees have been banned from former employees for three to six years. ASIC first initiated civil proceedings in the Federal Court against Forex CT and Yoshai after alleging Forex CT engaged in a system of unconscionable conduct, including ...

Former AMP adviser in enforceable undertaking

ELIZABETH MCARTHUR  |  MONDAY, 15 MAR 2021
... the Gold Coast - must comply with the enforceable undertaking she first entered in 2019. ASIC also commenced civil proceedings late last year, alleging Thorne took deliberate steps to avoid compliance with the court enforceable undertaking. Thorne was ...

Dodgy SMSF operator loses appeal

ELIZABETH MCARTHUR  |  FRIDAY, 12 MAR 2021
... to act honestly or with integrity and had failed to provide competent tax agent services. Cross argued in the AAT proceedings that the degree of dishonesty involved was lessened by the fact that ultimately, when audited, the SMSFs were all found to be ...

Court makes orders in ASIC versus TAL

KANIKA SOOD  |  WEDNESDAY, 10 MAR 2021
... after the insurer started its retrospective investigation. "TAL acknowledges the judgment of the Federal Court in the proceedings brought by ASIC involving a customer claim made in January 2014," a spokesperson for the company said. "We note the Court's ...