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

Search Results

Showing 11 - 20 of 94 results for "Westpoint"

FOFA misses the mark on investment fraud

RACHEL DAVIS  |  FRIDAY, 18 MAY 2012
A finance industry lawyer has warned that the FOFA regulations will not prevent Trio, Storm and Westpoint-type disasters from occuring in the future. "There has been no real change to rules making early detection and pre-emptive enforcement easier against ...

Compensation report finds against last resort scheme

RACHEL DAVIS  |  WEDNESDAY, 9 MAY 2012
... Getting these arrangements right is essential - one only needs to consider the recent corporate collapses like Trio, Westpoint and Storm to appreciate this." The FPA has welcomed the St. John report's findings. "This is a thorough review. Its conclusions ...

ASIC achieves settlement for Westpoint investors

CLAIRE MCGREAL  |  MONDAY, 5 DEC 2011
A group of investors in the failed Westpoint Group stand to receive over $1.39 million in compensation in a settlement reached by ASIC against Queensland firm Strategic Joint Partners. ASIC started proceedings against Strategic Joint Partners (SJP) ...

ASIC warns CFOs after Westpoint sentencing

MATT WOODINGTON  |  MONDAY, 12 SEP 2011
... The Australian Securities and Investments Commission reminded the industry of its legal responsibilities after former Westpoint chief financial officer Graeme Rundle received an 18-month suspended sentence. Rundle, found guilty of two counts of making ...

Westpoint directors face charges

ELISE BURGESS  |  MONDAY, 4 JUL 2011
Directors from collapsed property investment brand Westpoint will face charges and a possible jail sentence for their role in the company's downfall. Norm Carey and Graeme Rundle are facing two criminal charges each as a result of an investigation by ...

Less conflict, more interest: FOFA

MICHELLE BALTAZAR  |  THURSDAY, 28 APR 2011
... interest of their clients will restore the industry's credibility, marred by the financial collapses of Storm, Trio and Westpoint. "Eliminating conflicts of interest is not an anti-business concept, eliminating perceived conflicts of interest is not ...

Accountants attack planners over naming rights

ALISON BEVEGE  |  THURSDAY, 21 APR 2011
... and enshrining the term would not improve standards. "Nor will it bring back the millions of dollars lost to Storm or Westpoint." But the Financial Planning Association (FPA) attempted to soothe the situation, saying the accountants had got it wrong. ...

Planners needle minister over FOFA

ALISON BEVEGE  |  THURSDAY, 14 APR 2011
... industry was having a tough time with so much change, but that he spent a lot of time talking to planners. "I didn't invent Westpoint and I didn't invent Trio," he said. "I am standing in your corner for the promotion of your profession. But if that ...

ASIC strikes $67.45m in Westpoint settlement

MATT WOODINGTON  |  WEDNESDAY, 2 FEB 2011
... Australian Securities and Investments Commission (ASIC) has reached a settlement agreement, handing investors in the Westpoint Group an additional $67.45 million in compensation. The latest stage of the litigation process was carried out on behalf of ...

ASIC recovers $24m for Westpoint victims

ASIC RELEASE  |  FRIDAY, 17 SEP 2010
Westpoint investors in ASIC's class against Glenhurst Corporation will receive their share of $24.5 million recovered to date by the corporate regulator. The Glenhurst settlement, worth $2.5 million, is one of six reached by ASIC on behalf of investors ...