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

Search Results

Showing 481 - 490 of 727 results for "Proceedings"

CBA and AUSTRAC agree to mediate

ALEX BURKE  |  FRIDAY, 23 MAR 2018
At the request of both parties, the Federal Court has referred the proceedings between CBA and AUSTRAC to mediation. The Court's decision also requires AUSTRAC to file and serve any reply to CBA's amended response by April 6 and set a timetable for ...

ASIC closes doors on Storm charges with two fines

ALEX BURKE  |  FRIDAY, 23 MAR 2018
... to losses suffered on investments made through Storm." The regulator's investigation began in 2008. Civil penalty proceedings commenced in 2010, and the trial took place between 30 May 2016 and 30 June 2016. Speaking to Financial Standard, Storm Investors ...

Former Provident Capital MD still banned but allowed procedural fairness

DARREN SNYDER  |  THURSDAY, 22 MAR 2018
... Federal Court ordered that receivers be appointed to Provident. ASIC appeared as a 'friend of the court' in these proceedings," the regulator said. When Provident Capital went into liquidation on 24 October 2012, more than 3000 Provident debenture holders ...

Conflicted SMSF auditor disqualified

JAMIE WILLIAMSON  |  WEDNESDAY, 28 FEB 2018
... to appoint a Deloitte partner to liquidate a Perth-based self-managed super fund business. The regulator commenced proceedings against Superfunded - along with sole director Max Goldenberg and sole shareholder Mark Goldenberg - in November last year ...

CBA affirms BBSW position

DARREN SNYDER  |  TUESDAY, 27 FEB 2018
... investigation and is looking "to constructively engage with ASIC in order to resolve this matter." ASIC's initial civil proceedings alleged CBA traded a large number of its products with the intention to influence the BBSW on three specific occasions ...

ASIC seeks Deloitte to liquidate SMSF business

ALEX BURKE  |  TUESDAY, 27 FEB 2018
... to appoint a Deloitte partner to liquidate a Perth-based self-managed super fund business. The regulator commenced proceedings against Superfunded - along with sole director Max Goldenberg and sole shareholder Mark Goldenberg - in November last year ...

CBA denies majority of latest AUSTRAC allegations

KARREN VERGARA  |  FRIDAY, 23 FEB 2018
... on 9 October 2017, CBA said it rejects accusations it failed to disclose material information relating to AUSTRAC's proceedings that could adversely affect its share price. It maintains that prior to 3 August 2017, AUSTRAC did not inform the bank it ...

SMFSA voices support for AFCA

KARREN VERGARA  |  THURSDAY, 15 FEB 2018
... ability [to] have their grievances with a large institution dealt with by AFCA and avoid lengthy and costly legal proceedings is to be commended," Maroney said. "Anecdotal evidence suggests that SMSF members often do not pursue their complaints with ...

CBA puts away $500m for regulatory costs

DARREN SNYDER  |  WEDNESDAY, 7 FEB 2018
... banking group said it has set aside $375 million for an estimated civil penalty in relation to the ongoing AUSTRAC proceedings in the Federal Court. During the six month period it also set aside $200 million for "expected costs relating to currently ...

CBA embroiled in rate-rigging allegations

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2018
... rigged the bank bill swap reference rate (BBSW) and engaged in unconscionable conduct. ASIC initiated civil penalty proceedings yesterday, alleging CBA traded a large number of its products with the intention to influence the BBSW on three specific occasions ...