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Showing 41 - 50 of 682 results for "Proceedings"

Court blocks Merhi from financial services

KARREN VERGARA  |  TUESDAY, 28 OCT 2025
... company and associated parties for the return of $158 million," Chiodo said. "Chiodo Corporation has been joined to the proceedings, however it is Chiodo Corporation that has lost the money (not Keystone) and Chiodo Corp has provided ASIC with documents ...

Feature: Group insurance | Cold comfort

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
... claim to a grieving widow and failed to respond to her financial hardship concerns. In November 2024, ASIC launched proceedings against Cbus, having found that thousands of claimants waited more than 12 months for a benefit to be paid. It also alleged ...

ASIC slaps MWL adviser with ban over Shield involvement

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
... Macquarie Investment Management Limited (MIML) and Equity Trustees Superannuation Limited (ETSL). ASIC has commenced legal proceedings against both trustees. Last month, MIML reimbursed victims' retirement savings, while ETSL maintains its innocence. ...

Federal Court dismisses Freedom Insurance staff allegations

KARREN VERGARA  |  FRIDAY, 17 OCT 2025
... Spectrum Wealth Advisers - and eventually appointing liquidators in February 2020. ASIC launched the civil action proceedings against the two parties in 2021. "Mr Cohen breached his director's duties by exposing Freedom Insurance and INSA to a foreseeable ...

AMP platform flows jump 61.6%

RIDDHIMA TALWANI  |  THURSDAY, 16 OCT 2025
... advice journeys and our innovative retirement income solution, AMP Lifetime Super. " It also provided an update on its proceedings against insurers for historical remediation programs. It had already received $44 million in September and has now reached ...

Feature: Compliance | Passing the buck

ELIZA BAVIN  |  WEDNESDAY, 15 OCT 2025
... members, and those safeguards must be fully utilised." ASIC has its sights set on the trustees involved, having launched proceedings against Equity Trustees over its alleged due diligence failures concerning Shield. ASIC alleges Equity Trustees oversaw ...

ASIC seeks compensation for Shield victims from EQT

ELIZA BAVIN  |  MONDAY, 13 OCT 2025
ASIC has updated its Statement of Claim in the proceedings against Equity Trustees (EQT) to include a claim for compensation for losses incurred by members of the AMG Super and Super Simplifier platforms who invested in Shield Master Fund. This is in ...

ASIC reports 50% jump in investigations in FY25

RIDDHIMA TALWANI  |  THURSDAY, 9 OCT 2025
ASIC has reported an increase of 50% in investigations and an almost 20% rise in new civil enforcement proceedings in the financial year 2025. In its report for the full year, ASIC highlighted a ramp up in its enforcement activity and work to address ...

ASIC sues Fiducian for ESG failures

ELIZA BAVIN  |  FRIDAY, 3 OCT 2025
ASIC has launched proceedings in the Supreme Court of NSW against Fiducian Investment Management, alleging it breached its duties as a responsible entity and engaged in misleading and deceptive conduct about its environmental, social and governance ...

AFCA temporarily reinstates UGC to address complaints

RIDDHIMA TALWANI  |  FRIDAY, 26 SEP 2025
... Daniel Mulino said Macquarie's action will enable affected customers to access savings without lengthy and costly court proceedings. However, he also acknowledged it remains a destressing time for many investors not covered under this action. "As minister ...