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Showing 61 - 70 of 124 results for "ASIC Act"

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... after the Royal Commission. The corporate regulator is seeking to find NAB made several thousand contraventions of the ASIC Act and the Corporations Act between December 2013 and February 2019 by engaging in fee-for-no-service conduct by not providing ...

ASIC takes action against TAL over RC case

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... Kenneth Hayne. The corporate regulator has filed a civil case against TAL, alleging the insurance giant breached the ASIC Act, Corporations Act and Insurance Contracts Acts in avoiding an income protection claim in 2014. According to ASIC's allegations ...

Dover, McMaster found guilty

JAMIE WILLIAMSON  |  FRIDAY, 22 NOV 2019
... deceptive or likely to mislead or deceive in the context of section 1041H of the Corporations Act and section 12DA(1) of the ASIC Act. This is because the introductory clause of the policy did not ensure Dover clients received the maximum protection ...

Trustee firm, super fund in hot water

JAMIE WILLIAMSON  |  WEDNESDAY, 6 NOV 2019
... under the Corporations Act that Tidswell and ZIB failed to comply with their obligations as licensees and, under the ASIC Act, that Mobi engaged in misleading conduct that Grover knew about. ASIC is also remedial advertising and probation orders, and ...

RI Advice faces ASIC action

JAMIE WILLIAMSON  |  THURSDAY, 31 OCT 2019
ASIC has filed a Federal Court action against RI Advice and one of its former financial advisers who was the subject of a case study during the Royal Commission. Commencing court action today, the corporate regulator has alleged RI Advice failed to ...

ASIC sues ANZ over unlawful fees

KANIKA SOOD  |  THURSDAY, 25 JUL 2019
... million in remediation to customers to date but it hasn't paid back customers charged prior to 31 December 2007. The ASIC Act contraventions attract a maximum pecuniary penalty of between $1.7 million and $2.1 million per contravention. ASIC said ANZ's ...

ASIC names new default super fund

JAMIE WILLIAMSON  |  TUESDAY, 28 MAY 2019
... nominate a superannuation fund will be defaulted into AustralianSuper. From that time, ASIC will employ people under the ASIC Act instead of the Public Service Act. Under the Public Service Act, new employees were defaulted into the Commonwealth Superannuation ...

Industry fund fined over independent advice claims

KARREN VERGARA  |  THURSDAY, 9 MAY 2019
... issued by ASIC. However, ASIC said the payment of the infringement notice is "not an admission of a contravention of the ASIC Act."

ASIC outlines enforcement efforts

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
... Rate case against Westpac in November - with the Federal Court ordering Westpac to pay $3.3 million for contravening the ASIC Act 2001 by its involvement in setting the ASX Bank Bill Swap Rate in 2010. An independent report was ordered by the court ...

AMP overhauls wealth leadership

ELIZABETH MCARTHUR, JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... acknowledge 196 instances of misconduct relating to financial advice, as well as contraventions to the Corporations Act and the ASIC Act in relation to fees for no service during the Royal Commission. These revelations forced AMP's chief executive ...