Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 21 - 30 of 153 results for "Courts"

ASIC warns it can't take action on every case of misconduct

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... is not afraid to pursue cases where the law might be considered "unclear". "In our legislative and judicial system, the courts are the ultimate arbiter of these matters. This approach applies to all sectors under our regulatory remit - and is no different ...

Financial services class actions surge

JAMIE WILLIAMSON  |  WEDNESDAY, 20 MAR 2024
... Allens said. "While we have seen only one crypto-based class action in Australia (which is still making its way through the courts), claims involving digital asset platforms loom large on the horizon as an emerging area of risk. At present, the position ...

Bragg calls for another Financial System Inquiry, critiques ASIC, APRA

ANDREW MCKEAN  |  FRIDAY, 23 FEB 2024
... enforce Australia's corporate law. "ASIC says its enforcement record is stronger than ever, on the basis that they have had courts impose over $500 million in civil penalties as a result of their civil actions. But the reality is that there are very ...

Link, The Trust Bank progress acquisition

KARREN VERGARA  |  TUESDAY, 20 FEB 2024
... Solutions' creditors scheme, which affects investors in the defunct Woodford Equity Income Fund, was approved by the UK courts. Provided that no appeals are brought against the sanction of the scheme, it is expected to become fully effective by March ...

Mitsubishi UFJ Financial Group to acquire Link Group

KARREN VERGARA  |  MONDAY, 18 DEC 2023
Mitsubishi UFJ Financial Group (MUFG) is set to pay $1.2 billion for Link Group. MUFG's subsidiary Mitsubishi UFJ Trust & Banking Corporation (The Trust Bank) parties signed the scheme implementation deed today that will pay $2.26 cash for every ...

Woodford investors approve Link redress scheme

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
... attended a scheme meeting in-person or by proxy to vote, Link Group said. The scheme now requires final approval from the courts, scheduled for late January. If it is approved, Link Group said it expects to make an initial payment of $381 million in ...

Government consults on reforms to merger rules

CASSANDRA BALDINI  |  MONDAY, 20 NOV 2023
... skewed towards clearance, where there is uncertainty or several possible future outcomes. This is because of the emphasis courts place on having to predict the likely state of competition in the future with and without the merger. The ACCC is also concerned ...

Active Super to face action over greenwashing

RACHEL ALEMBAKIS  |  FRIDAY, 11 AUG 2023
... ESG disclosure standards as being good for members, the super industry and the community." "As the matter is before the courts we are unable to comment further." This is ASIC's third greenwashing civil penalty proceeding, having taken action against ...

HCF Life under ASIC surveillance

CASSANDRA BALDINI  |  FRIDAY, 12 MAY 2023
... response to the proceedings, HCF Life confirmed it's been notified that four of its products will be tested in the courts following the introduction of new unfair contract term laws in 2021. "Prior to this notification HCF Life has been participating ...

Mercer embroiled in greenwashing allegations

KARREN VERGARA  |  TUESDAY, 28 FEB 2023
... ASIC's concerns with respect to this matter. It would be inappropriate to comment further as the matter is now before the courts," a Mercer spokesperson said in a statement. The date for the first case management hearing is yet to be scheduled by ...