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Showing 561 - 570 of 796 results for "Fraud"

Advisory firm directors may challenge ASIC ban

ALISON BEVEGE  |  THURSDAY, 7 JUL 2011
... to a three-year ASIC ban imposed after clients lost money in funds associated with the Trio Capital superannuation fund fraud. ASIC said on Tuesday it was holding financial advisers to account as gatekeepers over the loss of client funds in Astarra Capital ...

Govt closes in on phoenix super dodgers

ELISE BURGESS  |  WEDNESDAY, 6 JUL 2011
The Federal Government is moving to protect employees from losing their super to 'phoenix' companies, including making directors personally liable, after releasing draft legislation and calling for submissions from the industry. Assistant Treasurer ...

Fraud adviser banned for life

ALISON BEVEGE  |  MONDAY, 23 MAY 2011
Financial adviser Robert Owen Bean has been banned for life for stealing more than $3 million from his clients over seven years, some of which he used for his own personal benefit, ASIC said today. Bean had been a securities representative and authorised ...

Burned investors drink bitter cup: ASIC

ALISON BEVEGE  |  FRIDAY, 20 MAY 2011
... industry regulator ASIC. The organisation studied the social impact of misconduct in the financial services industry such as fraud and inappropriate advice. It found that most victims had little knowledge of how to seek redress such as through their ...

Deadline tonight for Trio levy submissions

ALISON BEVEGE  |  MONDAY, 16 MAY 2011
... to have their say on regulations governing the levy to raise $55 million in compensation for victims of the Trio Capital fraud. With the impost worked out as a percentage of funds under management and capped at $500,000, some industry watchers predicted ...

US inside trader hit with possible two-decade jail sentence

ELISE BURGESS  |  FRIDAY, 13 MAY 2011
... co-founded the New York-based hedge fund management firm, Galleon Group, has been found guilty of nine counts of securities fraud and five counts of conspiracy after a two year case brought by the FBI on allegations of insider trading. The allegations ...

Bans hit bad planners: ASIC

ALISON BEVEGE  |  THURSDAY, 12 MAY 2011
Three financial advisers and a financial services firm are facing work bans and prosecution after separate ASIC investigations. A former financial adviser who fraudulently withdrew $600,000 from his clients' accounts has pleaded guilty in court to six ...

Trio compo draft regulations released

ALISON BEVEGE  |  TUESDAY, 10 MAY 2011
... to have their say on regulations governing the levy to raise $55 million in compensation for victims of the Trio Capital fraud. Funds will be exposed to a maximum impost of $500,000 down to a minimum of $50 in the draft regulations released by Treasury ...

Super funds at risk of cyber crime

ALISON BEVEGE  |  WEDNESDAY, 4 MAY 2011
... Pure Hacking said today. Ty Miller, chief technology officer of the ethical hacking security and testing firm, said most fraud comes from within a business's own organisation. Miller said it was too easy to break into systems. "We do internal penetration ...

ASIC silent on possible research probe

ALISON BEVEGE  |  TUESDAY, 19 APR 2011
ASIC has refused to confirm or deny whether research houses who gave five-star ratings or positive reports on fraud funds Trio Capital and Astarra are being investigated. But industry insiders say the corporate watchdog is conducting a high-level investigation ...