Search ResultsShowing 1 - 10 of 59 results for "ASIC Act"
Shortseller ordered to pay $900,000 by court
KANIKA SOOD  |  THURSDAY, 2 APR 2020
... Bonitas and Wiechert at $530,201 and damages at $368,974, declaring they had contravened both the Corporations Act and the ASIC Act. Interestingly, Bonitas had declined to appear in court for the December 9 hearing. A letter sent from Wiechert to Rural's ...
ASIC drags CFS to court over MySuper
ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
... reforms was slow and the fund breached its duties to members. ASIC is seeking declarations of breaches of s12DA of the ASIC Act and ss912A(1)(a) and (c), 949A and 1041H of the Corporations Act and the imposition of civil penalties under ss12DB and 12DF ...
ASIC turns up the heat on enforcement
HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
... the Royal Commission, such as the recent civil penalty litigation it took against TAL , for allegedly breaching the ASIC Act , Corporations Act and Insurance Contracts Acts in avoiding an income protection claim in 2014. One case, ASIC said, is currently ...
Calls for review of advice regulation
HARRISON WORLEY  |  THURSDAY, 6 FEB 2020
... Corporations Act, Tax Agent Services Act, National Consumer Credit Protection Act, and other obligations imposed under the ASIC Act and FASEA to name a few. "Often there is no harmonisation between these regulatory frameworks, or even within a single ...
Government edges towards regulator cooperation
HARRISON WORLEY  |  TUESDAY, 7 JAN 2020
... designed to ensure no barriers would impede their attempts to share information. Additionally, the bill will amend the ASIC Act to bring its meeting procedures into line with those of APRA, another recommendation made by Hayne. Hayne's assessment of ...
TAL loses group insurance mandate
JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... under the Insurance Contracts Act. ASIC is seeking civil penalties for TAL's alleged breach of section 12DB of the ASIC Act - which attracts a maximum penalty of 10,000 penalty units or $1.7 million.
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 ...
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