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

Search Results

Showing 301 - 310 of 726 results for "Proceedings"

Westpac to face court over insider trading

JAMIE WILLIAMSON  |  WEDNESDAY, 5 MAY 2021
ASIC has commenced civil proceedings against Westpac for insider trading on a $12 billion deal with AustralianSuper and a group of IFM entities. Westpac will face off against the regulator in the Federal Court on allegations of insider trading, unconscionable ...

Commonwealth seeks to stop bond class action

ELIZABETH MCARTHUR  |  FRIDAY, 9 APR 2021
... The court heard the Commonwealth wants to essentially strike out the part of the claim referring to the class action proceedings, requesting interlocutory relief. Interlocutory relief refers to a court order to compel or prevent a party from doing certain ...

Junk insurance lands Westpac in court

KARREN VERGARA  |  THURSDAY, 8 APR 2021
... not changed policies and conduct to stem harms from the design and sale of CCI. "As a result, we've commenced civil proceedings against Westpac," she said. Financial institutions and lenders have paid about $250 million in remediation to affected consumers ...

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 ...