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Showing 581 - 590 of 4164 results for "Action"

Massive crypto Ponzi scheme unravels

KARREN VERGARA  |  TUESDAY, 30 JAN 2024
... no longer able to make withdrawals. The SEC filed its complaint in the federal district court of Maryland. In its civil action, the regulator seeks "permanent injunctive relief, conduct-based injunctions preventing the defendants from participating in ...

500 jobs to be axed at abrdn

JAMIE WILLIAMSON  |  THURSDAY, 25 JAN 2024
abrdn will cut 10% of its workforce as part of a cost cutting exercise following significant outflows in the second half of 2023. The fund manager is targeting a cost reduction of $290 million (£150m) by the end of 2025 to restore its investments division ...

Adviser registration deadline moves to February 16

KARREN VERGARA  |  FRIDAY, 19 JAN 2024
... will be the final extension and that it will focus its efforts on enforcing the registration regime and take regulatory action where necessary. ASIC commissioner Alan Kirkland said failure to comply could incur significant consequences for unregistered ...

Advisers urged to check ASIC registration status

JAMIE WILLIAMSON  |  THURSDAY, 18 JAN 2024
... licensee. If they miss the deadline and continue to provide advice, the adviser and their licensee may face regulatory action. "While there have been a number of communications about this new obligation, we are aware that many licensee staff and advisers ...

Treasury releases climate disclosure draft legislation

RACHEL ALEMBAKIS  |  TUESDAY, 16 JAN 2024
... emissions and "certain climate-related forward-looking statements" for reports issued between July 2025 and June 2028, limiting action related to disclosures to the market regulators, with remedies limited to "injunctions and declarations." Australian ...

Court fines Linchpin, Endeavour directors

KARREN VERGARA  |  THURSDAY, 11 JAN 2024
Several directors of Linchpin Capital Group and Endeavour Securities, both of which are now in liquidation, were slapped with a combined $390,000 penalty by the Federal Court for breaching their duties. Last April, the court found that Ian Williams ...

Insignia Financial class action dismissed by court

JAMIE WILLIAMSON  |  MONDAY, 8 JAN 2024
Just days before Christmas, an Insignia Financial shareholder class action borne out of the Royal Commission was dismissed, with the judge saying there was no evidence provided to prove the group breached disclosure requirements. The class action was ...

Court finds Canna Campbell infringed trademark

KARREN VERGARA  |  MONDAY, 8 JAN 2024
... said he will not make orders yet as he invited both parties to make submissions on these areas. Korolak is taking further action by raising Campbell's conduct with the Financial Advice Association Australia (FAAA). As a licensed financial planner ...

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN  |  MONDAY, 8 JAN 2024
... was appropriate for procedural fairness to be provided before avoiding a customer's insurance policy. ASIC enforcement action plays an essential role in testing legislation to ensure it affords consumers with appropriate protection," she said. ASIC is ...

Federal Court appoints receivers to investigate Brite Advisors

ANDREW MCKEAN  |  MONDAY, 18 DEC 2023
... mandate to report their findings to the court and ASIC within 42 days. The appointment of Smith and Kirman follows initial action taken by ASIC in October 2023 to obtain interim asset preservation orders against Brite. The receivers were subsequently ...