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Showing 511 - 520 of 2455 results for "Court"

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 ...

HCF Life under ASIC surveillance

CASSANDRA BALDINI  |  FRIDAY, 12 MAY 2023
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 ...

Class action commenced against IG Markets

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
... 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," ...

Another round of consultation for veteran super taxation

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2023
... 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' ...

Courtenay House affiliate faces prison

CHLOE WALKER  |  TUESDAY, 9 MAY 2023
... 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 ...

Issuers must lift DDO game: ASIC

CASSANDRA BALDINI  |  THURSDAY, 4 MAY 2023
... 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 ...

Finfluencer receives jail sentence

CASSANDRA BALDINI  |  THURSDAY, 4 MAY 2023
... 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. ...

ASX expands partnership program criteria

KARREN VERGARA  |  WEDNESDAY, 3 MAY 2023
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 ...

Future Super accused of greenwashing via Facebook post

JAMIE WILLIAMSON  |  TUESDAY, 2 MAY 2023
... 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 ...