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Showing 311 - 320 of 808 results for "Corporations Act"

ASIC revokes AFSL suspension, cancels another

ELIZA BAVIN  |  TUESDAY, 19 MAY 2020
... Strategies, effective 9 April 2020. ASIC said it cancelled the AFSL because Tailormade was in liquidation. "Under the Corporations Act 2001, ASIC may suspend or cancel an AFS licence if the licensee is under administration and is being wound up," the ...

FASEA extension to pass next week

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... it. That should be the number one priority." The Treasury Laws Amendment (2019 Measures No.3) Bill amends the Corporations Act so that financial advisers will have more time to pass the FASEA exam and meet FASEA's education requirements. It was passed ...

AFSL pleads guilty to mishandling client money

KANIKA SOOD  |  THURSDAY, 7 MAY 2020
... then failing to pay that money into an account that satisfied the client money requirements within s981B of the Corporations Act 2001. It also admitted it breaching s993C(1) between 30 June 2016 and 16 December 2017 through making payments out of a client ...

Frydenberg amends Corporations Act

ALLY SELBY  |  WEDNESDAY, 6 MAY 2020
Treasurer Josh Frydenberg has announced changes to the Corporations Act, in a bid to relieve Australia's public companies from financial stress over the coming months. The changes, enacted from May 5, allow companies to hold virtual Annual General Meetings ...

QSuper board takes AFCA decision to court

KANIKA SOOD  |  THURSDAY, 16 APR 2020
... be whether AFCA's decision was invalid because the powers purportedly exercised by it under s 1055 of the Corporations Act 2001 (Cth) (CA) contravened Ch III of the Commonwealth of Australia Constitution Act 1901 (Cth) (the Constitution) by conferring ...

Shortseller ordered to pay $900,000 by court

KANIKA SOOD  |  THURSDAY, 2 APR 2020
... payable by Bonitas and Wiechert at $530,201 and damages at $368,974, declaring they had contravened both the Corporations Act and the ASIC Act. Interestingly, Bonitas had declined to appear in court for the December 9 hearing. A letter sent from Wiechert ...

Investment manager criminally charged

ELIZA BAVIN  |  WEDNESDAY, 18 MAR 2020
... 2018 SGSA failed to comply with client money obligations, in disobeying of criminal offence provisions in the Corporations Act 2001. "Client money provisions protect the interests of clients of Australian financial services (AFS) licensees by separating ...

ASIC drags CFS to court over MySuper

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
... is seeking declarations of breaches of s12DA of the ASIC Act and ss912A(1)(a) and (c), 949A and 1041H of the Corporations Act and the imposition of civil penalties under ss12DB and 12DF of the ASIC Act in relation to the communications. The amount of ...

Accountant convicted in fee no service scam

ELIZA BAVIN  |  MONDAY, 9 MAR 2020
... NewSat's former chief executive officer, were directors. Cullen was convicted of two counts of breaching the Corporations Act and fined $7500. In delivering the sentence, Judge Sarah Dawes said: "[Cullen] held a position of trust and should be held accountable ...

ASIC turns up the heat on enforcement

HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
... Commission, such as the recent civil penalty litigation it took against TAL, for allegedly breaching the ASIC Act, Corporations Act and Insurance Contracts Acts in avoiding an income protection claim in 2014. One case, ASIC said, is currently being considered ...