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Showing 21 - 30 of 893 results for %22Corporations Act%22

AI is not the 'Wild West': Longo

CHLOE WALKER  |  THURSDAY, 1 FEB 2024
... use AI are already subject to various Australian laws. For example, current directors' obligations under the Corporations Act are principal-based and apply broadly, as companies increasingly deploy AI. "In 2022, the Federal Court found that RI Advice ...

Standalone laws key to solving legislative 'porridge': ALRC

JAMIE WILLIAMSON  |  FRIDAY, 19 JAN 2024
... maze' of financial services laws, the Australian Law Reform Commission (ALRC) has recommended overhauling the Corporations Act and creating dedicated financial services legislation. The ALRC has been reviewing existing legislation to identify ways to ...

Government proposes framework for clearing and settlement services regulation

ANDREW MCKEAN  |  WEDNESDAY, 17 JAN 2024
... the imposition of such requirements is contingent on the minister's determination under section 828B of the Corporations Act 2001, which allows him to specify, by legislative instrument, the classes of CS services that can be regulated under the ...

Treasury releases climate disclosure draft legislation

RACHEL ALEMBAKIS  |  TUESDAY, 16 JAN 2024
... accounting standard. The legislation would amend the Australian Securities and Investment Commission Act and the Corporations Act. Under the proposed legislation, entities who meet two of the three criteria - revenue of $500 million or more, assets of ...

Court fines Linchpin, Endeavour directors

KARREN VERGARA  |  THURSDAY, 11 JAN 2024
... ordered that Nielsen and Williams each pay a $100,000 penalty for their involvement. They are also banned from managing corporations for four years. Raftery will pay a $40,000 penalty and be banned from managing a corporation for three years. The trio ...

ASIC cracks down on Prospero for reporting failures

CHLOE WALKER  |  WEDNESDAY, 10 JAN 2024
... cancelled," the corporate regulator said. ASIC has been investigating Prospero for suspected breaches of the Corporations Act. Its investigation commenced on 16 November 2023 and is looking back as far as 1 March 2021. In December, Prospero was requested ...

Insignia Financial class action dismissed by court

JAMIE WILLIAMSON  |  MONDAY, 8 JAN 2024
... knowledge, not information withheld by the group. In all, it was determined that Insignia did not contravene the Corporations Act, nor did it "engage in misleading or deceptive conduct by silence." Shine Lawyers acknowledged the court's decision ...

Treasury to refresh financial adviser exam

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... competent, including that their advisers meet the qualifications standard," the note said. Section 921B of the Corporations Act 2001 sets out four education and training standards that relevant provides must achieve to be qualify as one. These are attaining ...

ASIC takes action on EverBlu, director

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... Health). The proceeding, due to take place in the Federal Court, seeks orders to disqualify Blumenthal from managing corporations for five years and impose a pecuniary penalty. ASIC alleged that he facilitated loans from his private company Anglo Menda ...

FSCP issues another registration prohibition order

KARREN VERGARA  |  WEDNESDAY, 13 DEC 2023
... the client's interests". The panel has the power to make a registration prohibition order under s 921L(1)(c) Corporations Act 2001. ASIC on the other hand has more extensive banning orders under sections 920A & 920B. The FSCP recently hit Timothy Leslie ...