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Showing 421 - 430 of 2453 results for "Court"

ASIC curbs high-risk offers from online trading providers

ANDREW MCKEAN  |  WEDNESDAY, 6 DEC 2023
... we identify significant harm, we will continue to take strong regulatory action including, where appropriate, commencing court proceedings." For example, in a case concerning high-risk offers, ASIC discovered a provider intending to initiate a retail ...

Former adviser convicted over false documents

CHLOE WALKER  |  THURSDAY, 30 NOV 2023
... Former financial adviser David Fong and his practice Fong Financial Planners have been convicted and sentenced in a Perth court for three counts of dishonest conduct. Fong, who was an authorised representative of AMP Financial Planning between January ...

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 ...

Buffett outlines plans for Berkshire Hathaway

CHLOE WALKER  |  WEDNESDAY, 29 NOV 2023
Warren Buffett has laid out plans for Berkshire Hathaway (Berkshire) and his fortune in a rare letter published on the company's website. The legendary investor announced the gifting of 2.4 million Class B shares of Berkshire Hathaway stock (totalling ...

BBY manager charged with aiding and abetting

KARREN VERGARA  |  WEDNESDAY, 29 NOV 2023
... transaction instructions had the intention of funding a corporate payment. Sydney-based Yuen appeared in the Downing Centre Local Court on November 28. The matter was adjourned for further mention on 6 February 2024. As this matter is being prosecuted ...

ASIC forced to pay James Mawhinney's legal costs

JAMIE WILLIAMSON  |  TUESDAY, 28 NOV 2023
... Mawhinney incurred during the regulator's failed attempt at bringing an expanded case against him. The order follows the Federal Court of Australia's decision last month to reject ASIC's attempts, which included additional allegations outside the scope ...

Mercer fined $12m over advice failures

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
Mercer Financial Advice will pay $12 million after the Federal Court found it failed to meet some disclosure obligations and charged almost $5 million in fees to clients when it was not entitled to do so. Mercer admitted that, between July 2016 and ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
ASIC has accepted a court enforceable undertaking from iExtend Holdings Company (iExtend) after investigating concerns that it was operating without an AFSL. The undertaking also relates to iExi Pty Ltd, which trades as iExtend. Documents show the investigation ...

AMP to pay $100m to settle BOLR class action

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
... including where no judgement has been made. It is not an admission of liability and is still subject to approval by the Federal Court, it said. Speaking to Financial Standard, AMP group executive, advice Matt Lawler said that was also the objective for ...

Perth Mint enters voluntary enforceable undertaking

CASSANDRA BALDINI  |  THURSDAY, 23 NOV 2023
... resources to implement its remediation program or risk further enforcement action. It said further action could include seeking court orders to enforce the EU or cancelling it and taking other action, including commencing civil penalty proceedings in ...