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Showing 1 - 10 of 2119 results for "Court"

Former NSW adviser loses ban appeal

ELIZA BAVIN  |  WEDNESDAY, 15 MAY 2024
... services business. ASIC permanently banned the former NSW based adviser after he was convicted of fraud offences in the Local Court of NSW at Hornsby on 4 November 2022. Sweeney was authorised to provide advice between 17 November 2014 to 30 July 2018. ...

Federal Court rejects two CBA class actions

KARREN VERGARA  |  MONDAY, 13 MAY 2024
The Federal Court shut down two class actions against Commonwealth Bank of Australia (CBA) relating to anti-money laundering and counter-terrorism financing (AML/CTF). AUSTRAC alleged as early as 2017 that the bank contravened the Anti-Money Laundering ...

Brisbane financial adviser has assets frozen

ANDREW MCKEAN  |  FRIDAY, 10 MAY 2024
ASIC has instigated "urgent proceedings" in the Federal Court against Brisbane financial adviser Sunny Prakash and his many associated companies. The corporate regulator is investigating Prakash and his "related companies" - Principal Financial Services ...

J.P. Morgan hit with $775k penalty

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
... tackling manipulation in energy and commodities derivatives markets has been an ASIC priority," ASIC deputy chair Sarah Court said. "Farmers use these contracts to manage wheat price fluctuations which can affect what Australians pay at the checkout." ...

Litigation funder disputes AMP BOLR settlement

KARREN VERGARA  |  WEDNESDAY, 8 MAY 2024
... cut of the settlement money and could take home as much as $43 million. A notice of proposed settlement from the Federal Court shows the funder, Augusta Pool 523, has already incurred $16,716,882.72 in project costs (including $11,343,317.94 in legal ...

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 ...

Count upgrades synergy benefits after Diverger acquisition

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
... billion. Count paid $1.3651 for each Diverger share following a 99.97% approval from shareholders in January. The Federal Court approved the deal on February 15. Meantime, former Diverger managing director Nathan Jacobsen is set to start a new role as ...

ASIC hits back at parliament: 'Simply not realistic'

ELIZA BAVIN  |  TUESDAY, 30 APR 2024
... take ASIC on," he said. "From time to time our powers are challenged in the courts, sometimes all the way up to the High Court. That's a resource-intensive activity." Longo said the regulator was overrun with complaints that do not fall under its remit ...

Macquarie Bank to pay $10m for unauthorised fee transactions

ELIZA BAVIN  |  MONDAY, 22 APR 2024
The Federal Court has ordered Macquarie Bank to pay a penalty of $10 million for failing to have effective controls to prevent and detect unauthorised fee transactions conducted by third parties, such as financial advisers, on customer cash management ...

Court approves $16m DASS settlement

KARREN VERGARA  |  FRIDAY, 19 APR 2024
The Federal Court has approved the settlement reached in the $16 million class action brought against Dixon Advisory & Superannuation Services (DASS) following a two-week delay. Justice Thawley sought to gather more information for the victims in delaying ...
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