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

Search Results

Showing 21 - 30 of 637 results for %22Federal Court of Australia%22

Brite Advisors to be wound up

CHLOE WALKER  |  WEDNESDAY, 7 FEB 2024
The Federal Court has ordered Brite Advisors (Brite) to be wound up on just and equitable grounds following an application by ASIC. At a hearing yesterday, the Court appointed Linda Smith and Robert Kirman of McGrath Nicol as liquidators to Brite and ...

Westpac loses Ausgrid rate swap case

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... trading desk achieved a profit of $20.7 million. Close to $ million was paid to the sales team as commission. The Federal Court declared the conduct was unconscionable, including because Westpac was aware the pre-hedging could adversely impact the consortium ...

AI is not the 'Wild West': Longo

CHLOE WALKER  |  THURSDAY, 1 FEB 2024
... under the Corporations Act are principal-based and apply broadly, as companies increasingly deploy AI. "In 2022, the Federal Court found that RI Advice breached its licence obligations to act efficiently and fairly by failing to have adequate risk management ...

Massive crypto Ponzi scheme unravels

KARREN VERGARA  |  TUESDAY, 30 JAN 2024
... HyperFund collapsed in 2022 and investors were no longer able to make withdrawals. The SEC filed its complaint in the federal district court of Maryland. In its civil action, the regulator seeks "permanent injunctive relief, conduct-based injunctions ...

Investors livid over fresh portfolio valuation: Mayfair 101

JAMIE WILLIAMSON  |  WEDNESDAY, 10 JAN 2024
... uplift in Mayfair's portfolio confirms ASIC grossly mischaracterised Mayfair's business and its investments to the Federal Court of Australia, and that Mayfair's investments were solid. ASIC had no right to take that away from nearly six hundred people ...

Court finds Canna Campbell infringed trademark

KARREN VERGARA  |  MONDAY, 8 JAN 2024
... and finfluencer Canna Campbell was found guilty of infringing the trademark "Financial Foreplay" in her podcasts. The Federal Circuit and Family Court of Australia determined that the founder of SugarMamma TV and SASS Financial used without authorisation ...

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN  |  MONDAY, 8 JAN 2024
Zurich Australia has been cleared of breaching its duty of utmost good faith by the Federal Court, in a case connected to OnePath Life's avoidance of an income protection policy. The case marks ASIC's first attempt to impose a civil penalty under s13 ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
... forward," AMP chief executive Alexis George said at the time. 10) AMP loses BOLR changes class action (July 5) The Federal Court ruled in favour of the AMP Financial Planning advisers who saw the buy-back value of their businesses slashed by controversial ...

Adviser with Investport links sees ban affirmed

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
... unregistered managed investment scheme run by Linchpin Capital. Endeavour Securities was the responsible entity. The Federal Court later found the directors of the scheme had used money sought from investors for their personal use, including signing ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
The Federal Court has imposed a $5 million penalty on OnePath Custodians for unlawfully deducting adviser service fees from members. According to court documents, the trustee made misleading representations about its right to continue charging fees ...