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Showing 501 - 510 of 2453 results for "Court"

No regrets: Hayne reflects on Royal Commission

KARREN VERGARA  |  TUESDAY, 30 MAY 2023
Nearly six years since the landmark Royal Commission, former High Court justice Kenneth Hayne stands by his recommendations that upended the banking and financial services sectors. Making a rare appearance at the International Congress of Actuaries ...

Melissa Caddick declared dead by coroner

JAMIE WILLIAMSON  |  FRIDAY, 26 MAY 2023
... could not be determined by autopsy and remains unknown, the coroner said. And, while oceanographic evidence rendered to the court during the inquest established it was possible Caddick entered the water off Sydney's Dover Heights on or around November ...

Former fund manager director convicted

CHLOE WALKER  |  WEDNESDAY, 24 MAY 2023
... whose financial services licence was cancelled by ASIC in 2020, was first charged for dishonest conduct in May 2021. The court determined that as director of Global Merces, a firm now in liquidation, Grofski created a 'loan agreement' purporting to show ...

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
... ASIC data, losses are estimated to be around $800 million, with the case now filed in the Victorian Registry of the Federal Court. Also pertaining to the investment sector, AFCA discovered a financial firm to be engaging in unauthorised trading, providing ...

Treasury consults on giving AFCA more super powers

JAMIE WILLIAMSON  |  TUESDAY, 23 MAY 2023
... Authority (AFCA) should have its remit expanded to deal with more complaints related to superannuation, following the Federal Court's MetLife decision. As it stands, under Part 7.10A of the Corporations Act, AFCA has certain statutory powers to deal ...

Investment fraud accomplice charged

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
... 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 more than $29.5 million from six investors. In July last year, Marco had ...

Regulation, funding inhibits digital advice: Report

KARREN VERGARA  |  MONDAY, 22 MAY 2023
... confidence. Robo-advisers are well aware of the risks of "treading into personal advice territory, particularly after the High Court ruling in the Westpac case on general advice". While the Quality of Advice Review is expected to solve the issue of blurred ...

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
... million in remediation, for failing to pay promised 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 ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
The Federal Court found AMP guilty of charging deceased customers life insurance premiums and advice fees, ordering it to pay $24 million in penalties. Justice Hespe today determined that four AMP subsidiaries - AMP Life, AMP Financial Planning, AMP ...

Ex-Vocus chair indicted for insider trading

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... EQT proposal. Previously, similar charges were dropped after a contested committal hearing in the Melbourne Magistrates' Court. However, the Commonwealth Director of Public Prosecutions (CDPP) formally indicted Bowen on May 10. Of note, the CDPP may ...