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| | | 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 ... |
| | | | ... 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 ... |
| | | | The regulator has started civil proceedings in the Federal Court against the insurer after alleging it issued three types of insurance policies containing unfair and misleading contract terms. ASIC said the case involves standard form contracts issued ... |
| | | | ... further alleges that the company marketed and facilitated the trading of complex CFDs to inexperienced investors. "The Federal Court of Australia has described these products as "financial heroin hits" in the hands of unsophisticated retail investors," ... |
| | | | ... 2022, the government introduced legislation aimed at ensuring no veteran pays higher income taxes as a result of the Federal Court decision in Commissioner of Taxation v Douglas (Douglas decision). The Douglas decision found that certain veterans' ... |
| | | | ... business between November 2016 and April 2017, and one charge of dealing in the proceeds of crime worth $100,000 or more. The court deemed him to be reckless to the fact the firm was unlicensed and to the fact the commissions he received were derived ... |
| | | | ... receiving suitable products on an ongoing basis. "We won't hesitate to take further action, from stop orders through to court proceedings, especially where we see egregious failures," Chester said. "We have already commenced civil penalty proceedings ... |
| | | | ... good behaviour bond. The HotCopper trader also copped a $42,840 fine after pleading guilty yesterday in Melbourne County Court to 23 charges of manipulation of ASX-listed shares and 19 charges of illegal dissemination of information relating to the offence. ... |
| | | | The Australian Securities Exchange is seeking stakeholder feedback for its CHESS Replacement Partnership Program as it updates the eligibility criteria for potential participants. The CHESS Replacement $70 million Partnership Program canvasses industry ... |
| | | | ... impact of the fund and we were concerned it may be misleading to investors and potential investors," ASIC deputy chair Sarah Court said. "This action should send a message to the financial services industry that ASIC is continuing to focus on greenwashing ... |
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