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Showing 1 - 10 of 451 results for "Corporations Act 2001"

ASIC prevails in landmark case against BPS Financial

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
ASIC has won a case against BPS Financial, following a Federal Court ruling that found the latter guilty of offering 'Qoin Wallet,' a non-cash payment facility that used the 'Qoin' cryptocurrency token, without an Australian Financial Services Licence ...

MSC Certane wins Suncorp mandate

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
Suncorp Group has appointed Certane CT, a division of MSC Group, as trustee for its successful $360 million notes offer. The unsecured notes will be listed and tradeable on the Australian Securities Exchange (ASX) from 15 May 2024 (ASX: SUNPJ). As the ...

Blockchain mining companies sued by ASIC

ANDREW MCKEAN  |  MONDAY, 15 APR 2024
ASIC has taken legal action against three blockchain mining companies - NGS Crypto, NGS Digital, and NGS Group - along with their sole directors Brett Mendham, Ryan Brown and Mark Ten Caten. The corporate regulator has accused the NGS companies of targeting ...

Why aged care advice needs tougher regulation

KARREN VERGARA  |  WEDNESDAY, 10 APR 2024
The lack of regulation around aged care advice has led to superficial and often conflicted advice, that can put older Australians at risk of elder abuse, according to Aged Care Steps, which is rallying for tougher protections and laws. Aged Care Steps ...

Super advice fee deductions compound red tape: JAWG

KARREN VERGARA  |  MONDAY, 8 APR 2024
The Joint Associations Working Group (JAWG) says new laws that enable superannuation funds to deduct financial advice fees will have the opposite effect of reducing red tape and can make advice even more unaffordable. Treasury Laws Amendment (Delivering ...

Court rejects Provide Capital's 'illogical' application

KARREN VERGARA  |  WEDNESDAY, 3 APR 2024
The federal court has rejected Provide Capital's "illogical" application to prevent ASIC conducting further investigation into the firm. Justice Rofe dismissed Provide Capital's application that alleged ASIC did not have the state of mind required ...

Tranche one of advice reforms hits parliament

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2024
The legislation housing the first tranche of financial advice reforms that promise to reduce red tape was introduced in parliament today. Some of the recommendations from the Quality of Advice Review (QAR) include amending ongoing fee arrangements (OFA) ...

Director facing $13k fine in first of its kind action from ASIC

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
The Australian Securities and Investments Commission (ASIC) has commenced the first prosecution action against a director for failing to comply with the obligation to have a director identification number (director ID). ASIC did not name the director ...

Court dismisses ASIC lawsuit against Finder

KARREN VERGARA  |  FRIDAY, 15 MAR 2024
ASIC's action against Finder Wallet has fallen flat as the Federal Court rejected allegations it was spruiking a financial product related to cryptocurrency. Justice Markovic yesterday dismissed ASIC's case against Finder.com's Finder Wallet and its ...

ASIC succeeds in conflicted remuneration case

KARREN VERGARA  |  MONDAY, 4 MAR 2024
ASIC has succeeded in its case against RM Capital, which the court found failed to take reasonable steps to prevent its authorised representative accepting conflicted remuneration. On the February 29, the Federal Court found that RM Capital's authorised ...
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