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Showing 41 - 50 of 610 results for %22High Court%22

eToro sued by ASIC

ANDREW MCKEAN  |  THURSDAY, 3 AUG 2023
... target market for its CFD product. ASIC alleges eToro's target market for its CFD product was far too broad for such a high-risk and volatile trading product where most clients lose money. The regulator also claims that the screening test was wholly ...

Mayfair 101 calls for senate inquiry into ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 2 AUG 2023
... against Mawhinney and Mayfair 101 is set to be reheard in the Federal Court of Victoria following a decision by the High Court last year. Separately, Mawhinney is suing ASIC and deputy chair Sarah Court for defamation, with a trial to take place in early ...

ASIC sues Vanguard for greenwash in bond fund

RACHEL ALEMBAKIS  |  TUESDAY, 25 JUL 2023
... it was first self-reported." "There was never any intention to mislead, but Vanguard recognises it has not lived up to the high standards it holds itself accountable to and apologises for the concern this matter may cause for our clients," the manager ...

CFS settles super fees class action

JAMIE WILLIAMSON  |  FRIDAY, 14 JUL 2023
... Gordon - alleged that CFS did not act in thousands of customers' best interests by continuing to charge existing members high fees under the commission arrangements. This is despite the charging of commissions on new superannuation accounts being ...

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... 2021. Together with Insurance Marketing Services (IMS), the three companies were fined $13.5 million by Justice Abraham. "High pressure tactics were applied. Sales tactics were used to overbear the free will of consumers. Having made the sales, retention ...

ASIC deepens investigation into Magnolia founder

KARREN VERGARA  |  FRIDAY, 30 JUN 2023
... was founded in 2015 and built its reputation as a specialist property and alternatives investor for family office and ultra-high-net-worth clients but has since diversified and now also counts institutional investors as investors," he said. Last year ...

Adviser levy tripled, labelled "deeply unfair"

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... advisers are left with a tiny fraction of these costs being recovered," Abood said. "For example, ASIC was successful in court against Westpac in April 2022, with $113 million in penalties being awarded in this single case (which included advice related ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
... Planning received the most complaints among the advice firms with 81 filed between July 2021 and December 2022. Isolating the high volume of financial advice-related complaints for Dixon Advisory and Superannuation Services of 1763 at the end of the ...

Bank of Queensland slapped with EU

CASSANDRA BALDINI  |  WEDNESDAY, 31 MAY 2023
APRA and AUSTRAC have agreed to a court enforceable undertaking (CEU) following weakness in the bank's risk management and money laundering controls. APRA said it's acted following several beaches or its prudential standards and a review that ...

No regrets: Hayne reflects on Royal Commission

KARREN VERGARA  |  TUESDAY, 30 MAY 2023
Nearly six years since the landmark Royal Commission, former High Court justice Kenneth Hayne stands by his recommendations that upended the banking and financial services sectors. Making a rare appearance at the International Congress of Actuaries ...