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Showing 331 - 340 of 683 results for "Proceedings"

Westpac admits to failures

ELIZABETH MCARTHUR  |  MONDAY, 18 MAY 2020
On Friday, Westpac filed its defence in the Federal Court in relation to proceedings brought by AUSTRAC regarding alleged breaches of anti-money laundering and counter terrorism financing laws. "Westpac accepts the gravity of the issues raised by the ...

Curtains fall for two financial services companies

ALLY SELBY  |  MONDAY, 27 APR 2020
... of Brisbane. ASIC said the move comes to protect Australians from the conduct of the two firms. "ASIC commenced the proceedings to protect the public in circumstances where it holds concerns about the conduct of the affairs of these companies and their ...

Life insurers prepare for grilling

HARRISON WORLEY  |  FRIDAY, 24 APR 2020
... Council of Australia, before moving on to AFCA, Allianz, ClearView and AIA. TAL Life - who is defending Federal Court proceedings brought against it by ASIC relating to a case referred to it by Royal Commissioner Kenneth Hayne - will round out the da ...

Former ASIC lawyer joins private firm

ELIZA BAVIN  |  MONDAY, 20 APR 2020
... of the senior managers responsible for running high-profile investigations and for launching related civil penalty proceedings. Tony Coburn, consultant and head of the Australian Banking Regulatory team at Herbert Smith Freehills, said Symons' background ...

Chief economist update: How deep the global recession?

BENJAMIN ONG  |  WEDNESDAY, 15 APR 2020
... and China had just reached a trade agreement and the Fed's three rate reductions and expectations of a pause in proceedings, among others, along with the rise and rise in the equity markets made it so. Among the risk factors the IMF identified three ...

Westpac AUSTRAC bill continues to grow

ELIZABETH MCARTHUR  |  TUESDAY, 14 APR 2020
Westpac today announced expected increased costs associated with AUSTRAC proceedings of $1.03 billion. On top of that, the bank has increased provisions for customer refunds, repayments and litigation by $260 million. It's also had to write down ...

ASIC winds up three financial services companies

ELIZA BAVIN  |  WEDNESDAY, 8 APR 2020
... Falconer and My Wealth Adviser wound up. On 6 March 2020, ASIC applied to have AWSM wound up. ASIC said it commenced the proceedings to protect the public in circumstances where it holds concerns about the conduct of the affairs of those companies and ...

Mayfair 101 accused of misleading advertising

ELIZABETH MCARTHUR  |  MONDAY, 6 APR 2020
... issuing the Mayfair debenture products while redemptions to existing investors remain suspended. ASIC has commenced proceedings in the Federal Court. Mayfair 101 responded with a statement strongly maintaining that it is compliant with all relevant legislation. ...

Chant West takes Zenith acquisition to court

KANIKA SOOD  |  MONDAY, 6 APR 2020
Chant West Holdings has filed proceedings in the Supreme Court of New South Wales after Zenith Investment Partners' subsidiary last week pulled out of a planned $12 million purchase of its superannuation business. CW Bidco Pty Limited (the Zenith ...

Chief economist update: Oil gush

BENJAMIN ONG  |  FRIDAY, 3 APR 2020
... market - catching out many investors seeking higher yields. US president Donald Trump's latest tweet has reversed proceedings: "Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope ...