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Showing 601 - 610 of 5223 results for "2015-16 ASIC"

Federal Court quashes case against ex-Dixon Advisory director

ANDREW MCKEAN  |  WEDNESDAY, 6 NOV 2024
... of E&P Financial Group, and authorised Dixon to enter into an agreement with EPO, which favoured EPO at Dixon's expense. ASIC claimed the resolutions harmed Dixon Advisory's creditors by blocking access to a $19 million intercompany receivable that could ...

Federal Court appoints receivers to ALAMMC Developments

ANDREW MCKEAN  |  TUESDAY, 5 NOV 2024
... purpose-built NDIS compatible property development schemes across Australia. As previously reported by Financial Standard, ASIC launched an investigation into McWilliams and the associated companies earlier this year after receiving information from ...

ACCC urges parliament to pass new merger laws

ELIZA BAVIN  |  MONDAY, 4 NOV 2024
ACCC chair Gina Cass-Gottlieb has told the Gilbert and Tobin Financial Services Forum that the ACCC has been advocating for reforms to merger control in Australia for years and urged the government to pass the reforms. "These reforms are particularly ...

ANZ suspected of more mistakes amid bond saga

MATTHEW WAI  |  MONDAY, 4 NOV 2024
... investigation, commenced April last year, is currently ongoing. Appearing before the Parliamentary Joint Committee last Friday, ASIC chair Joe Longo said: "Our investigation concerns suspected market manipulation and contraventions of a number of provisions ...

Licensees pay $92m in compensation

ELIZA BAVIN  |  FRIDAY, 1 NOV 2024
ASIC has released its third publication on information lodged under the reportable situations regime. The publication provides high-level insights into reporting trends from 1 July 2023 to 30 June 2024, and covers licensee population reporting, breach ...

Non-bank lender sued for dodging Credit Code

JAMIE WILLIAMSON  |  THURSDAY, 31 OCT 2024
... sophisticated investors, the Oak Capital Mortgage Fund and Oak Capital Wholesale Fund. Filing a case with the Federal Court, ASIC alleges Oak Capital made close to 50 loans over a four-year period to companies that it had no reason to believe were the ...

Gap exists between licensees' AI use and governance processes: ASIC

MATTHEW WAI  |  TUESDAY, 29 OCT 2024
... found instances of artificial intelligence (AI) use that was at risk of being at odds with their regulatory obligations. ASIC reviewed more than 600 AI use cases across 23 licensees as at the end of 2023, which included operations in the financial advice ...

ASIC secures win against HCF Life

ELIZA BAVIN  |  TUESDAY, 29 OCT 2024
... was liable to mislead the public. The term was used in three contracts issued under HCF Life's 'Recover' range of products. ASIC alleged that the term could mislead the public as the term purported to allow HCF Life to deny coverage if a customer did ...

Queensland-based financial firm loses AFSL

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
... business has lost its Australian financial service licence (AFSL) following its failure to comply with licensee obligation. ASIC revoked the AFSL of Next Generation Advice (in liquidation) (Next Gen) after the Queensland Supreme Court ordered the company ...

CSLR warns adviser levy will balloon

KARREN VERGARA  |  FRIDAY, 25 OCT 2024
The Compensation Scheme of Last Resort (CSLR) warned the advice sector should brace for an even bigger levy in the 2026 financial year, forecasting a total of $20 million. Financial advisers are set to cough up more than $20 million in FY26, which will ...