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Showing 31 - 40 of 885 results for %22Federal Court%22

Federal Court approves BT Super $30m settlement

KARREN VERGARA  |  TUESDAY, 12 DEC 2023
The Federal Court approved the $29.95 million class action settlement against Westpac after subsidiaries BT Funds Management (BTFM) and Westpac Life Insurance Services (WLIS) allegedly failed to manage conflicts of interest when investing BT Super member ...

ANZ fined $900k over shares disclosure failure

CHLOE WALKER  |  MONDAY, 11 DEC 2023
The Federal Court has slapped ANZ with a $900,000 fine for breaching its continuous disclosure laws about eight years ago. In October, the court found the banking giant had contravened continuous disclosure laws by failing to tell the market its underwriters ...

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 ...

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 ...

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
... to enforce the EU or cancelling it and taking other action, including commencing civil penalty proceedings in the Federal Court. AUSTRAC believes the EU will ensure that Gold Corporation addresses the AML/CTF deficiencies through its remediation program. ...

SEC sues Kraken exchange again

CASSANDRA BALDINI  |  WEDNESDAY, 22 NOV 2023
... identified as "a significant risk of loss" to its customers. The SEC filed its complaint against Kraken in San Francisco federal district court. It's the second time this year Kraken has been in trouble with the SEC. Earlier this year it agreed to ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
... interest in such practices. "The settlement is without admission of liability and is subject to the approval of the Federal Court of Australia," Shine said. "Shine Lawyers, E&P and other respondents have agreed to a settlement payment of no less than ...