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Showing 41 - 50 of 91 results for "Credit Act"

Former adviser pleads guilty to theft, dishonesty

KANIKA SOOD  |  TUESDAY, 22 DEC 2020
A former financial adviser and company director will be sentenced on April 30 after pleading guilty to charges relating to mishandling of client money in an IPO. Keith James Flowers (formerly Nigel Flowers) pled guilty to one charge each of dishonesty ...

NAB to pay $15m for Royal Commission case study

ELIZABETH MCARTHUR  |  MONDAY, 19 OCT 2020
... NAB and is an important result for ASIC's first civil action alleging contraventions of s31(1) of the National Credit Act," ASIC deputy chair Daniel Crennan said. ASIC's investigation revealed that between 3 September 2013 and 29 July 2016, 16 ...

Brisbane broker permanently banned

ALLY SELBY  |  TUESDAY, 11 AUG 2020
... lodged on the client's behalf. ASIC also found that Gordon failed to comply with his obligations under the National Credit Act after he refused to give effect to a determination made by AFCA requiring him to pay an amount to the complainants. In addition ...

ASIC will not appeal wagyu and shiraz decision

ANNABELLE DICKSON  |  THURSDAY, 23 JUL 2020
... contracts. In August 2019, the Federal Court found Westpac had not breached the responsible lending provisions of the Credit Act and judge Nye Perram said a lender may do what it wants in the assessment process for loans. ASIC appealed the decision in ...

ASIC refuses just 3% of AFSL relief applications

HARRISON WORLEY  |  WEDNESDAY, 24 JUN 2020
... helped the law "work better for business" by granting 619 applications for relief from the Corporations Act and National Credit Act during the six month period. ASIC said the relief had a "net regulatory benefit" by facilitating business and cutting ...

Former financial adviser permanently banned

HARRISON WORLEY  |  TUESDAY, 7 APR 2020
A former financial adviser is the first person to be permanently banned from having any involvement in financial services or credit businesses in Australia. ASIC has used its newly sharpened teeth to permanently ban former Adelaide financial adviser ...

CBA in court over RC case studies

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
... alleges CBA contravened the responsible lending provisions of the National Consumer Credit Protection Act 2009 (National Credit Act) when it lent to a customer, David Harris, who had notified the bank he was a problem gambler. The action against CBA ...

Early access to super scheme results in permanent ban

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 MAR 2020
ASIC has permanently banned the man behind Superfunded, an illegal early access to superannuation scheme in Perth. Mark Goldenberg was chief operating officer, general manager and property analyst of Superfunded. His scheme enabled people to use their ...

ASIC bans SMSF business director

HARRISON WORLEY  |  THURSDAY, 22 AUG 2019
ASIC banned the director of a firm allowing people to illegally access their superannuation early to buy a home. The corporate regulator slapped Max David Goldenberg with an eight year ban from providing financial services and engaging in credit activities ...

Former Westpac adviser permanently banned

JAMIE WILLIAMSON  |  WEDNESDAY, 26 JUN 2019
A former Westpac financial adviser was permanently banned for providing inappropriate advice that placed a number of clients' retirements in jeopardy. Subeer Luthra was banned by ASIC following surveillance that found he dishonestly altered his clients' ...