Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 541 - 550 of 2526 results for "Court"

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 ...

AMP provisions $50m in response to class action

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
... have booked a $50 million provision in response to the judgment in the Financial Adviser Class Action. The process for the Court making orders from the judgment is ongoing and until finalised we won't make a decision on any appeal," George said. ...

ASIC sues debt management firm, director

CHLOE WALKER  |  THURSDAY, 10 AUG 2023
... some payments made by customers were never even passed on to their creditors. ASIC has commenced proceedings in the federal court against Bakken Holdings Pty Ltd (Bakken), an operator of the debt management business Solve My Debt Now, following concerns ...

ASIC looking to send message with eToro action

CASSANDRA BALDINI  |  WEDNESDAY, 9 AUG 2023
... and distribution obligations (DDO). During her introductory speech at the General Counsel Summit, ASIC deputy chair Sarah Court said if the regulatory body achieves a favourable outcome in the ongoing proceedings, it will send a clear deterrent message ...

Government cracks down following PwC scandal

CASSANDRA BALDINI  |  TUESDAY, 8 AUG 2023
... apply to advisers and firms who promote tax avoidance. It will also increase the time limit for the ATO to bring Federal Court proceedings on promoter penalties from four years to six years after the conduct occurred. Further, it explained limitations ...

Are indexes the next target for greenwashing investigations?

RACHEL ALEMBAKIS  |  TUESDAY, 8 AUG 2023
... other third-party service providers for greenwashing as well. Last month, ASIC announced it is taking Vanguard to federal court, alleging Vanguard "made false and misleading statements and engaged in conduct liable to mislead the public in representing ...