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Showing 61 - 70 of 601 results for "SARA"

Federal court slams director for 'fanciful' asset valuation

ELIZA BAVIN  |  TUESDAY, 23 SEP 2025
The Federal Court has disqualified Queensland-based director David Hodgson from managing corporations for five years and permanently restrained him from engaging in financial services without an Australian financial services licence (AFSL). This comes ...

ASIC sets sights on 140 advisers

ELIZA BAVIN  |  THURSDAY, 18 SEP 2025
ASIC deputy commissioner Sarah Court told a parliamentary committee this morning that the regulator has identified around 140 financial advisers who were involved in super switching misconduct relating or similar to Shield and First Guardian. "We had ...

Perth man found guilty of $34m fraud

ELIZA BAVIN  |  MONDAY, 8 SEP 2025
A Supreme Court jury has found Perth businessman Chris Marco guilty of fraud following a five-week trial, after he swindled six investors out of $34 million. Marco's former executive assistant, Linda Marissen, was acquitted of all charges of fraud. ...

FAAA calls for other sectors to help pay $67m CSLR bill

ELIZA BAVIN  |  WEDNESDAY, 3 SEP 2025
In its submission to the Treasury consultation on the Compensation Scheme of Last Resort (CSLR) Special Levy for 2025/26, the Financial Advice Association Australia (FAAA) said financial advisers should not be expected to pay more than the $20 million ...

ASIC permanently bans convicted investment manager

MATTHEW WAI  |  TUESDAY, 2 SEP 2025
ASIC has permanently banned former investment manager and director Brett Paul Trevillian for fabricating investment reports of his trading strategy 'The Gold Method'. Trevillian, who has been serving a three-year sentence by way of an intensive ...

ASIC piles more charges on Merhi

KARREN VERGARA  |  MONDAY, 1 SEP 2025
ASIC has heaped more allegations against former financial adviser Ferras Merhi, claiming he engaged in "unconscionable conduct" related to the First Guardian Master Fund and Shield Master Fund that has put more than $520 million on the line. ASIC said ...

Government scraps inquiry into advice firm failures, Dixon Advisory

JAMIE WILLIAMSON  |  FRIDAY, 29 AUG 2025
The government has dumped the inquiry into wealth management companies that would have dissected the collapse of firms like Dixon Advisory and the impact on the Compensation Scheme of Last Resort (CSLR). In September 2024, the government referred the ...

Equity Trustees sued over Shield Master Fund failures

ELIZA BAVIN  |  TUESDAY, 26 AUG 2025
Equity Trustees will face court over its alleged due diligence failures concerning the Shield Master Fund. ASIC flagged that as a superannuation trustee, Equity Trustees oversaw the investment of around $160 million of retirement savings into Shield ...

Mercer Super sued over 'longstanding and systemic' failures

JAMIE WILLIAMSON  |  THURSDAY, 14 AUG 2025
Mercer Super allegedly failed to report seven investigations it undertook into serious member services failures, including one into premiums charged to dead members being refunded incorrectly. Lodged with the Federal Court today, the proceedings allege ...

NAB fined over $15m for delaying hardship applications

MATTHEW WAI  |  THURSDAY, 14 AUG 2025
The Federal Court has ordered National Australia Bank (NAB) and its subsidiary ASFH Nominees to pay a pecuniary penalty of $15.5 million for failing to respond to customers facing hardship. The court found that between 2018 and 2023, NAB and ASFH failed ...