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Showing 491 - 500 of 2457 results for "Court"

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... customers, has been banned from managing a company for five years, while his companies were fined $13.5 million. The Federal Court found Russell Howden, also the director of BlueInc, engaged in unconscionable conduct and breaching financial services ...

Allegro unveils PwC entity as Scyne Advisory

CASSANDRA BALDINI  |  TUESDAY, 4 JUL 2023
... team during the transition. An independent board of directors will be established for the new entity, with former Federal Court judge Andrew Greenwood joining as a non-executive director. Allegro further confirmed that candidates for an independent chair ...

ASIC deepens investigation into Magnolia founder

KARREN VERGARA  |  FRIDAY, 30 JUN 2023
The Federal Court has extended the travel ban on Magnolia Capital's founder as he faces an ASIC investigation that alleges $40 million of investor money has gone missing. Mitchell Atkins, also the managing director and chief investment officer of Magnolia ...

Adviser levy tripled, labelled "deeply unfair"

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... advisers are left with a tiny fraction of these costs being recovered," Abood said. "For example, ASIC was successful in court against Westpac in April 2022, with $113 million in penalties being awarded in this single case (which included advice related ...

Former Capstone adviser in EU with ASIC

JAMIE WILLIAMSON  |  THURSDAY, 22 JUN 2023
A former Capstone Financial Planning adviser is in a court enforceable undertaking with ASIC after he failed to maintain adequate records to show clients were receiving the services they'd paid for. Gregory Blackaby, formerly of Acquire Strategic Advisers ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
... reporting; and suspend or cancel registrations. It can also issue an infringement notice or recommend that ASIC apply to the court for a civil penalty.

Banned adviser told to stay put

CHLOE WALKER  |  FRIDAY, 16 JUN 2023
... an ex parte basis without Ridgway's presence, require him to deliver his passport to the Brisbane Registry of the Federal Court. An ASIC investigation found the former adviser put millions of dollars of client money into unauthorised investments. Specifically ...

Former Big Un executive smacked with insider trading charge

ANDREW MCKEAN  |  WEDNESDAY, 14 JUN 2023
... maximum sentence has increased to 15 years imprisonment. The matter has been listed for mention at the Downing Centre Local Court on July 25. In February, ASIC commenced legal proceedings against former Big Un chief executive Richard Evertz. He stands ...

Perth-based Ponzi scheme shut down by court

JAMIE WILLIAMSON  |  FRIDAY, 9 JUN 2023
A Perth woman has been permanently banned from running a financial services business, while the $11 million illegal investment scheme she ran will be wound up. Monica Kaur, through her business MKS Property Investments/Developments, encouraged around ...

Director charged over illegal investment scheme

JAMIE WILLIAMSON  |  THURSDAY, 8 JUN 2023
... invest in businesses he owned, all while operating unlicensed. Ashley Vincent Arandez fronted the Melbourne Magistrates Court this week charged with three counts of dishonest conduct, eight counts of dealing with proceeds of crime, and one count of carrying ...