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Showing 21 - 30 of 2243 results for "Court"

BUSSQ loses legal bid to overturn additional licence conditions

ANDREW MCKEAN  |  MONDAY, 3 FEB 2025
Industry superannuation fund BUSSQ has lost its legal challenge against APRA, with the Federal Court dismissing its bid to overturn additional licence conditions. Last August, APRA imposed additional licence conditions on BUSSQ's trustee over concerns ...

Former adviser pleads guilty to $1m theft

MATTHEW WAI  |  MONDAY, 3 FEB 2025
... all charges on 13 July 2023, with the matter consistently been adjourned since. On January 28, he appeared in the District Court of Western Australia and pleaded guilty to three counts of stealing and two counts of fraud. It was alleged that Torre stole ...

ASIC bans adviser fraudster found with child abuse material

ANDREW MCKEAN  |  WEDNESDAY, 29 JAN 2025
... carries them out. Cubilla stole $637,735 from a deceased client's Colonial First State (CFS) superannuation account in what court documents described as a "sophisticated fraud." He used the funds to pay off personal debts and expenses. "It's a serious ...

Auditors tighten fist on greenwashing

ROSE MARY PETRASS  |  TUESDAY, 28 JAN 2025
The global ethics watchdog has issued fresh directives on judging green claims, with the minutiae still in flux in Australia as mandatory reporting begins for large entities and financial firms. Part of a broad crackdown on greenwashing and ESG-related ...

Binance Labs becomes a family office

KARREN VERGARA  |  TUESDAY, 28 JAN 2025
... He also stepped down as chief executive of Binance and paid a massive fine. Locally, ASIC is taking Binance Australia to court alleging it denied more than 500 retail clients important consumer protections by misclassifying them as wholesale clients. ...

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
... representatives and corporate authorised representatives (CARs), following an ASIC investigation. Sanlam has subsequently entered a court enforceable undertaking and will need an ASIC-approved independent expert to review its processes and systems. The ...

Court sentences Ponzi scheme promoter

KARREN VERGARA  |  MONDAY, 23 DEC 2024
The Federal Court has sentenced the promoter of Courtenay House for his involvement in one of the country's biggest Ponzi schemes. David Sipina was handed down three years' imprisonment to be served via an intensive correction order after pleading ...

Court finds CFD issuers engaged in 'unconscionable conduct'

ELIZA BAVIN  |  MONDAY, 23 DEC 2024
The Federal Court has found that collapsed contracts for difference (CFD) issuer, Union Standard International Group (USG) and two of its former corporate authorised representatives, BrightAU Capital (trading as TradeFred) and Maxi EFX Global AU (trading ...

What you read in 2024

ELIZA BAVIN  |  FRIDAY, 20 DEC 2024
... incidents and breaches since they partnered which have had a material impact on the fund and its members. ESSSuper filed Federal Court proceedings against Iress and its Financial Synergy Holdings subsidiary, claiming material breaches of contract and ...

ASIC sues Binance over customer protection failures

ELIZA BAVIN  |  THURSDAY, 19 DEC 2024
ASIC is taking Binance Australia to court alleging it denied more than 500 retail clients important consumer protections by misclassifying them as wholesale clients. ASIC alleges from 7 July 2022 to 21 April 2023, Binance offered crypto derivative products ...