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Showing 331 - 340 of 833 results for "Corporations Act"

ASIC bans Linchpin directors

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAY 2020
... obtained orders in the Federal Court against Linchpin and Endeavour for contravening multiple provisions of the Corporations Act while operating two managed investment schemes, both called 'Investport Income Opportunity Fund'. The court ordered the winding ...

ASIC takes action on two AFSLs

ELIZA BAVIN  |  FRIDAY, 29 MAY 2020
... after it found that Squareknot did not meet the base level financial requirements of its licence. "Under the Corporations Act, an AFS licensee must comply with the conditions of its licence. ASIC may suspend or cancel an AFS licence if a licensee does ...

Government offers guidance provision relief

HARRISON WORLEY  |  TUESDAY, 26 MAY 2020
... through COVID-19. The amendments, introduced today, ensure companies and their officers are only liable under the Corporations Act's continuous disclosure provisions if there "has been knowledge, recklessness or negligence with respect to updates on ...

IOOF settles class action

JAMIE WILLIAMSON  |  MONDAY, 25 MAY 2020
... December 2018. The law firm further alleged IOOF's conduct breached continuous disclosure obligations under the Corporations Act and ASX listing rules. At the time, IOOF said the action was "speculative and without foundation". Now, IOOF has reached ...

Litigation funders will need AFSLs

ELIZABETH MCARTHUR  |  FRIDAY, 22 MAY 2020
Litigation funders will be regulated under the Corporations Act and required to hold an Australian financial services licence, Treasurer Josh Frydenberg announced today. The Treasurer said the government wants litigation funders to be subject to greater ...

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 ...