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

Search Results

Showing 21 - 30 of 92 results for "Westpoint"

IMF settles with PIS on Westpoint

ASX RELEASE  |  MONDAY, 21 JUN 2010
Litigation firm, IMF Australia, has settled with Professional Investment Services (PIS) on behalf of a number of Westpoint investors. IMF announced the conditional settlement it has funded for certain Westpoint investors against PIS today. The terms ...

KPMG challenges ASIC on Constitutional powers

ASIC RELEASE  |  THURSDAY, 20 MAY 2010
KPMG is challenging the Australian Securities & Investments Commission (ASIC) regarding its case on behalf of Westpoint investors because it believes the regulator's case is unconstitutional. ASIC began action against KPMG on the basis that Section ...

Investors get more from Westpoint settlement

ASIC RELEASE  |  WEDNESDAY, 19 MAY 2010
Investors affected by the Westpoint collapse have scored another win after ASIC reached an agreement to settle its actions against Glenhurst Corporation and its insurer, QBE Insurance (Australia), for $2.5 million. The settlement is subject to the approval ...

Industry prepares for new advice era

MICHELLE BALTAZAR AND RUTH LIEW  |  TUESDAY, 27 APR 2010
... to reform the planning industry following the findings of the Ripoll Inquiry on the collapse of failed property group Westpoint and financial planning firm Storm Financial. Central to the reforms is the ban on conflicted remuneration, such as trail commissions ...

Director charged in Westpoint case

ASIC RELEASE  |  MONDAY, 29 MAR 2010
A director who dealt in Westpoint promissory notes has been placed on a good behaviour bond after pleading guilty to carrying on a financial services business without holding an AFSL. He was sentenced to six months imprisonment, with an order that he ...

Treasury proposes mandatory governance principles

MICHAEL HOBBS  |  TUESDAY, 9 MAR 2010
... Commission (ASIC) accepted enforceable undertakings from three partners of KPMG's Perth office for their auditing work on the Westpoint Group of companies in August last year. Although Treasury perceives the auditing industry in a positive light, it ...

Westpoint investors win $13.5m compensation

ASIC RELEASE  |  THURSDAY, 4 MAR 2010
ASIC has successfully obtained court approval of a $13.5-million settlement from State Trustees on behalf of Westpoint investors. The class action initiated by ASIC against Melbourne based trustee company, State Trustees, relates to investments made ...

LKM directors blocked from leaving Oz

ASIC RELEASE  |  WEDNESDAY, 27 JAN 2010
... joins a growing list of financial services providers that have failed their investors namely Astarra, Opes Prime and Westpoint.

ASIC presses on with Westpoint compensation

ASIC RELEASE  |  MONDAY, 30 NOV 2009
... has reached an agreement to settle class actions against Bongiorno Financial Advisors, which has links to the failed Westpoint Group. An ASIC statement late last week noted that the watchdog had agreed to settle actions against Melbourne-based Bongiorno ...

Bans and charges for advisers: ASIC

ASIC RELEASE  |  FRIDAY, 20 NOV 2009
ASIC has embarked on a major crackdown on "advisers" who have broken the law - including those linked with Westpoint, and SMSF and agribusiness specialists. ASIC has banned Craig Gerard Dangar, of New South Wales, from providing financial services for ...