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Showing 341 - 350 of 683 results for "Proceedings"

AMP Life, AMP Capital fined

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
... liability, ASIC said. On the same day, ASIC also took action against Colonial First State. The regulator commenced civil proceedings in the Federal Court against Colonial First State, alleging that it engaged in misleading communication with members. ...

ASIC drags CFS to court over MySuper

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
ASIC has commenced civil proceedings in the Federal Court against Colonial First State, alleging that it engaged in misleading communication with members. Following the introduction of legislation in 2012 that required trustees to offer members a default ...

CBA in court over RC case studies

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
ASIC has commenced proceedings against Commonwealth Bank over the AgriAdvantage Plus Package and credit services provided to problem gamblers. Both cases were Royal Commission case studies and are being pursued by the regulator in the Federal Court. ...

Westpac hit with another class action

ELIZA BAVIN  |  FRIDAY, 13 MAR 2020
... to Westpac's monitoring of financial crime over the relevant period and matter which are the subject of the AUSTRAC proceedings," Westpac told the ASX. "The claim does not identify the amount of any damages sought." Westpac said it will be defending ...

IOOF faces new class action

ELIZABETH MCARTHUR  |  TUESDAY, 25 FEB 2020
... against IOOF in April 2019. That action was a direct response to evidence given at the Royal Commission and legal proceedings brought by APRA against five IOOF executives. APRA sought to disqualify former chief executive Chris Kelaher, former IOOF chair ...

OneVue takes control of Madison

JAMIE WILLIAMSON  |  THURSDAY, 6 FEB 2020
... interest is the 100% shareholding in Madison Financial Group. Madison itself is not subject to any form of insolvency proceedings and continues to operate on a business as usual basis, OneVue said. Madison Financial Group was acquired by Sargon in 2018 ...

Asset manager to be liquidated

ELIZA BAVIN  |  WEDNESDAY, 5 FEB 2020
... be wound-up. ASIC obtained orders to wind-up the Brisbane-based company on "just and equitable grounds" stating the proceedings were commenced to protect the public. "ASIC commenced the proceedings to protect the public in circumstances where it holds ...

Chief economist update: It's a holiday for the Fed

BENJAMIN ONG  |  FRIDAY, 31 JAN 2020
... on hold until the end of 2019 at 80.2%. It made sense that time, expectations of a halt in the Fed's rate hike proceedings - it hiked the fed funds rate four times in 2018 - turned the US equity market around just after Christmas 2018 that continued ...

Westpac appoints new chair

ELIZA BAVIN  |  THURSDAY, 23 JAN 2020
... response plan for the AUSTRAC statement of claim," Maxsted said. The appointment comes after AUSTRAC launched legal proceedings against the bank, alleged 23 million breaches of the anti-money laundering and anti-terrorism laws. The scandal led to the ...

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... liability on licensees for the breaches of their financial advisers, ASIC said. This is the result of civil penalty proceedings brought against Westpac by ASIC in June 2018. ASIC's investigation found internal Westpac reviews, including an internal ...