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Showing 1 - 10 of 2227 results for "Court"

Cbus faces fresh investigation over fund expenditure practices

ANDREW MCKEAN  |  TUESDAY, 11 FEB 2025
... investigation by APRA for possible breaches of superannuation legislation, with the regulator announcing the probe alongside a court-enforceable undertaking to address the super fund's risk management and oversight of key fund services. APRA said ...

Keybridge Capital enters voluntary administration

ELIZA BAVIN  |  MONDAY, 10 FEB 2025
... Accountants as voluntary administrator, with the board blaming its ongoing feud with WAM Active (WAM). The Keybridge board said court orders being sought by WAM prevented Keybridge from raising capital, which saw an offer of debt finance - which was ...

AustralianSuper under investigation for delayed death benefit payouts

ANDREW MCKEAN  |  THURSDAY, 6 FEB 2025
... members were impacted by delays to death and total and permanent disability (TPD) claims, with some waiting more than 90 days. Court documents showed that nearly 8000 TPD claims were impacted, with 4366 taking more than a year to resolve and only 830 ...

Trump orders creation of US sovereign wealth fund

ANDREW MCKEAN  |  TUESDAY, 4 FEB 2025
... wealth fund. The executive order directs US secretary of the treasury Scott Bessent, who was sworn in last week by Supreme Court Justice Brett Kavanaugh - nominated by Trump during his first term - and Trump's nominee for secretary of commerce Howard ...

BUSSQ loses legal bid to overturn additional licence conditions

ANDREW MCKEAN  |  MONDAY, 3 FEB 2025
Industry superannuation fund BUSSQ has lost its legal challenge against APRA, with the Federal Court dismissing its bid to overturn additional licence conditions. Last August, APRA imposed additional licence conditions on BUSSQ's trustee over concerns ...

Former adviser pleads guilty to $1m theft

MATTHEW WAI  |  MONDAY, 3 FEB 2025
... all charges on 13 July 2023, with the matter consistently been adjourned since. On January 28, he appeared in the District Court of Western Australia and pleaded guilty to three counts of stealing and two counts of fraud. It was alleged that Torre stole ...

ASIC bans adviser fraudster found with child abuse material

ANDREW MCKEAN  |  WEDNESDAY, 29 JAN 2025
... carries them out. Cubilla stole $637,735 from a deceased client's Colonial First State (CFS) superannuation account in what court documents described as a "sophisticated fraud." He used the funds to pay off personal debts and expenses. "It's a serious ...

Auditors tighten fist on greenwashing

ROSE MARY PETRASS  |  TUESDAY, 28 JAN 2025
The global ethics watchdog has issued fresh directives on judging green claims, with the minutiae still in flux in Australia as mandatory reporting begins for large entities and financial firms. Part of a broad crackdown on greenwashing and ESG-related ...

Binance Labs becomes a family office

KARREN VERGARA  |  TUESDAY, 28 JAN 2025
... He also stepped down as chief executive of Binance and paid a massive fine. Locally, ASIC is taking Binance Australia to court alleging it denied more than 500 retail clients important consumer protections by misclassifying them as wholesale clients. ...

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
... representatives and corporate authorised representatives (CARs), following an ASIC investigation. Sanlam has subsequently entered a court enforceable undertaking and will need an ASIC-approved independent expert to review its processes and systems. The ...
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