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Showing 531 - 540 of 2521 results for "Court"

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... persons, investigate suspected breaches of the regime, and direct entities to take remedial action and to apply to the Federal Court to impose a civil penalty on accountable entities," Jones said. BEAR, the FAR's first iteration, was recommended ...

Financial hardship neglect lands Westpac in court

KARREN VERGARA  |  TUESDAY, 5 SEP 2023
... over seven years, for which the bank blames "technology failure". ASIC commenced civil penalty proceedings in the Federal Court, alleging that Westpac failed to respond to hardship notices within 21 days as required by law. Between 2015 and last year ...

Commonwealth to disclose climate risks in sovereign bonds

ROSE MARY PETRASS  |  THURSDAY, 31 AUG 2023
... Treasury secretary. Other bond investors have also been invited to put forward their views on the settlement, which the court will consider when making its decision on whether to approve the settlement. This occurs in all class actions in Australia. ...

Legacy issues, business overhaul plague E&P results

KARREN VERGARA  |  FRIDAY, 25 AUG 2023
... early August that it was suing former Dixon Advisory & Superannuation Services (DASS) director Paul Ryan to the Federal Court in an alleged breach of duties that led to creditors suffering significant losses. "The group is not a party to the proceedings. ...

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... subsidiaries, including AMP Services, NM Super, AMP Super, and AWM Services, were served with legal proceedings in the Supreme Court of New South Wales by Munich Re in April 2023. Central to the proceedings is the manner in which both Munich Re and Resolution ...

ASIC cracks down on former adviser, comedian

JAMIE WILLIAMSON  |  TUESDAY, 22 AUG 2023
... investigates fees charged to client superannuation accounts. Last month, David Mario Valvo of Sydney was ordered by the Federal Court to surrender his passport while his assets and those of his business, Your Financial Freedom, were frozen. ASIC is investigating ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... tanked following revelations of alleged misconduct by the Financial Services Royal Commission. In May 2019, the NSW Supreme Court ordered the litany of class actions levelled against AMP to merge into one after the Hayne Royal Commission exposed scathing ...

Crypto lender sentenced for false licence

CHLOE WALKER  |  FRIDAY, 18 AUG 2023
... This was in relation to a news artless dated 10 September 2018 that claimed it held a specific ACL. ASIC deputy chair Sarah Court said the regulator expects entities and individuals to provide accurate information to their customers and potential customers. ...

ASIC appeal in CBA, CFS case dismissed

JAMIE WILLIAMSON  |  THURSDAY, 17 AUG 2023
... breached conflicted remuneration laws with their agreement to have the former distribute the superannuation product, but the court found that the payments made by CFS to CBA did not constitute benefits within the definition of 'conflicted remuneration' ...

Active Super to face action over greenwashing

RACHEL ALEMBAKIS  |  FRIDAY, 11 AUG 2023
... seek to attract members with promises their investments will not be exposed to certain industries," ASIC deputy chair Sarah Court said. "When making these claims super funds must have evidence to back their claims and ensure they are not promising exclusions ...