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Showing 1 - 10 of 92 results for "ASIC Act"

Dixon Advisory to pay $8.2m to settle ASIC action

KANIKA SOOD  |  FRIDAY, 9 JUL 2021
ASIC will drop its September 4 Federal Court case against Evans & Dixon's financial advice arm for $8.2 million and declaration of 53 contraventions. Dixon Advisory and Superannuation Services (DASS) will pay $7.2 million in penalty and $1 million ...

Criminal charges filed against ME Bank

JAMIE WILLIAMSON, KANIKA SOOD  |  THURSDAY, 27 MAY 2021
... ASIC investigation. The regulator said the charges relate to contraventions of sections 12DB(1)(g) and 12GB(1) of the ASIC Act and sections 64(1) and 65(1) of the National Credit Code (Cth). Section 12DB(1)(g) relates to making false or misleading representations ...

AMP sued for charging dead clients

JAMIE WILLIAMSON  |  THURSDAY, 27 MAY 2021
... that was, in all the circumstances, unconscionable," ASIC said. ASIC is seeking declarations of contraventions of the ASIC Act and Corporations Act, and is also seeking pecuniary penalties and other orders to be made by the court. AMP acknowledged the ...

ANZ, CBA settle class action

ANNABELLE DICKSON  |  MONDAY, 22 MAR 2021
... for a confidential and in-principle agreement and in 2018, Westpac was ordered to pay $3.3 million for contravening the ASIC Act in the BBSW saga. However, most recently ANZ was accused of paying hush money to a whistleblower regarding the BBSW scand ...

Court makes orders in ASIC versus TAL

KANIKA SOOD  |  WEDNESDAY, 10 MAR 2021
... separate declarations about aspects of TAL's conduct it saw as misleading, deceptive and in contraventions of the ASIC Act, Corporations Act and Insurance Contracts Act. The court documents also show in January 2021, TAL's lawyers Gilbert+Tobin ...

ASIC pursues criminal charges in super

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAR 2021
... against Rest and Statewide Super, ASIC is seeking pecuniary penalties, alleging the funds breached the Corporations Act and ASIC Act. In December 2020, the Financial Sector Reform (Hayne Royal Commission Response) Bill was passed, delaying the ban on ...

ASIC drags CommSec to court

ELIZABETH MCARTHUR  |  MONDAY, 1 MAR 2021
... failures at the trading platform and that CommSec and AUSIEX breached the market integrity rules, Corporations Act and ASIC Act. ASIC alleges the conduct spanned a significant period of time and involved failures across multiple systems and business ...

CBA guilty of deceptive conduct

ELIZA BAVIN  |  WEDNESDAY, 17 FEB 2021
... customers were advised. The Court also made a declaration that on each of the 12,119 occasions that CBA breached the ASIC Act, it also breached its general obligation as a financial services licensee to comply with financial services laws, in contravention ...

ASIC winds up Mayfair 101 debenture issuer

ELIZABETH MCARTHUR  |  MONDAY, 1 FEB 2021
ASIC has succeeded in winding up the issuer of Mayfair 101's debenture products, with the Federal Court ordering M101 Nominees to wind up. The is the first outcome arising from ASIC's ongoing actions against Mayfair 101 Group and its director James ...

ASIC detects imposter bond scam

ANNABELLE DICKSON  |  THURSDAY, 28 JAN 2021
The corporate regulator is warning investors of scam bond investment operations targeting Australian investors with claims of high yield bond investments. The scammers are claiming to be from reputable domestic and international financial firms when ...
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