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Showing 31 - 40 of 140 results for "ASIC Act"

Investment fraud accomplice charged

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
The executive assistant of former Perth unlicensed investment scheme boss Chris Marco has been charged with 34 counts of enabling or aiding fraud. Linda Marissen appeared in the Perth Magistrates Court after it was alleged that she helped Marco defraud ...

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
... rehabilitation benefits. The life insurer was penalised by the Federal Court after it was found guilty of several breaches of the ASIC Act, the Corporations Act, and the Insurance Contracts Act between November 2015 and October 2018. At the time, MLC ...

Future Super accused of greenwashing via Facebook post

JAMIE WILLIAMSON  |  TUESDAY, 2 MAY 2023
Future Super has been handed an infringement notice by ASIC over a Facebook post that implied all its funds under management had been invested in fossil fuels prior to transitioning to Future Super. The $13,320 infringement notice follows ASIC raising ...

ASIC updates breach reporting guidelines

KARREN VERGARA  |  FRIDAY, 28 APR 2023
ASIC has updated breach reporting procedures in the hope that it can help reduce regulatory burdens for financial advisers. The corporate watchdog detailed several changes to Regulatory Guide 78 Breach reporting by AFS licensees and credit licensees ...

High Court rejects Mayfair 101 plea

JAMIE WILLIAMSON  |  MONDAY, 24 APR 2023
Mayfair 101's James Mawhinney has seen his High Court appeal rejected, allowing ASIC's case against him to be retried in the Federal Court. In October 2022, the Full Federal Court ordered a retrial after it found ASIC's original case against Mawhinney ...

ASIC investigates CHESS replacement blunder

KARREN VERGARA  |  WEDNESDAY, 29 MAR 2023
... there was misleading or deceptive conduct at play, and if false or misleading documents were produced. Also, under the ASIC Act section and 12DA and 12DB, ASIC wants to find out if misleading or deceptive conduct or misleading representations existed ...

ASIC acts to combat financial inequality for First Nations people

ANDREW MCKEAN  |  WEDNESDAY, 15 FEB 2023
ASIC has published an Indigenous Financial Services Framework to support positive financial outcomes for First Nations people. The Framework's development is the result of extensive consultations with stakeholders, including First Nations people, financial ...

ASIC commences proceedings over failure to comply

JAMIE WILLIAMSON  |  THURSDAY, 8 DEC 2022
... Court action against Provide Nominees, which trades as Provide Capital, seeking the court's intervention under s70 of the ASIC Act. ASIC said it previously served a notice to produce documents on Provide Capital as part of an ongoing investigation. ASIC ...

ANZ told to pay $25m for 20-year failure

JAMIE WILLIAMSON  |  THURSDAY, 27 OCT 2022
... loans and commercial loans but ANZ didn't pass them on. The court ruled in ASIC's favour, saying ANZ contravened the ASIC Act, the Corporations Act, and the National Consumer Credit Protection Act. It said ANZ made false or misleading representations ...

CommSec, AUSIEX to pay $27m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 26 OCT 2022
... and pursuant to the Market Integrity Rules and consequently, the Corporations Act (and additionally for CommSec, the ASIC Act)," the presiding Justice Abraham said. "The conduct is properly characterised as being extensive and systematic, occurring over ...