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Showing 71 - 80 of 2243 results for "Court"

AMP BOLR litigants face lengthy payout process

KARREN VERGARA  |  TUESDAY, 17 SEP 2024
Despite the Federal Court greenlighting the AMP Buyer of Last Resort (BOLR) lawsuit settlement amount, there is still a long way to go before financial advisers can have peace of mind with the payout process to potentially draw out to mid-2025. This ...

Director pleads guilty to 'dishonestly' obtaining near $1m

MATTHEW WAI  |  TUESDAY, 17 SEP 2024
... Capital (OTC) has yesterday admitted he dishonestly obtained a financial advantage by deception in the Downing Centre District Court. Mark McCabe has pleaded guilty to three offences contravening s192e(1)(b) Crimes Act 1900 (NSW) (Crimes Act), with a ...

Federal Court approves AMP BOLR class action settlement

KARREN VERGARA  |  MONDAY, 9 SEP 2024
The Federal Court has approved the $100 million Buyer of Last Resort (BOLR) class action settlement despite some participants objecting to it, calling for a larger payout and making AMP accountable for its actions. Justice McElwaine approved the settlement ...

Court appoints receivers to Keystone, Master Shield Fund

MATTHEW WAI  |  MONDAY, 9 SEP 2024
The Federal Court has appointed new receivers and administrators to Keystone Asset Management, as ASIC attempts to identify where more than $100 million of investors' money has gone. The Federal Court appointed Jason Tracy and Lucica Palaghia of ...

Melbourne adviser sentenced to 18 months' prison

ELIZA BAVIN  |  FRIDAY, 6 SEP 2024
Former Melbourne financial adviser Bradley Grimm has been convicted by the County Court of Victoria on three counts of engaging in dishonest conduct while running a financial services business. Grimm was sentenced to 18 months' imprisonment, with ...

APRA alleges First Super co-chair breached director duties

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2024
... the manufacturing division's lobbying to withdraw from the CFMEU. APRA has commenced civil proceedings in the Federal Court of Australia seeking civil penalties and O'Connor's disqualification. The regulator alleges O'Connor breached ...

Former Courtenay House director sentenced

MATTHEW WAI  |  TUESDAY, 3 SEP 2024
... Athan Papoulias for his role in the unlicensed financial services business last year. Commenting, ASIC deputy chair Sarah Court said: "ASIC pursued this matter as part of our commitment to protect investors. Mr Iervasi's actions betrayed the trust ...

Former adviser cops 12 years' imprisonment

KARREN VERGARA  |  TUESDAY, 27 AUG 2024
... years behind bars after he was found guilty of fraud again. Jayaweera was sentenced in a retrial at the Brisbane District Court yesterday after he was found guilty of 28 counts of fraud amounting to $5,958,870 in losses for former clients. Judge Moynihan ...

BUSSQ fights back against regulatory imposition

ANDREW MCKEAN  |  MONDAY, 26 AUG 2024
... by APRA over the past two years, without any negative findings." APRA acknowledged BUSSQ's application to the Federal Court challenging the decision to impose additional licence conditions on the trustee, confirming that it intends to contest the ...

ASIC wins case against crypto exchange Kraken

ANDREW MCKEAN  |  MONDAY, 26 AUG 2024
... currency was a deferred debt, and therefore the "margin extension" should be classified as a credit facility. The Federal Court determined that the obligation to repay a digital asset wasn't an obligation to repay money and was therefore not a deferred ...