Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 61 results for "Court case"

AI, operational failures key regulatory risks for ASIC in 2026

RIDDHIMA TALWANI  |  TUESDAY, 27 JAN 2026
ASIC has said operational failures by superannuation fund trustees as well as the rise of artificial intelligence (AI) will drive the local regulatory space in 2026. Operational failures among super trustees and administrators, such as delays in processing ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
... tanking in 2019, losing as much as 34.2% in value. In the year to March 2020, it lost about 76%. ASIC dropped its Federal Court case against DASS, which saw the latter pay $7.2 million in penalties and $1 million in legal costs. DASS went into voluntary ...

Expect more greenwashing action: ASIC

RACHEL ALEMBAKIS  |  FRIDAY, 3 MAR 2023
The court case against Mercer Superannuation for allegations of greenwashing is "just one of the investigations on foot", ASIC chair Joe Longo said. "We will do what we need to do to make sure entities are not misleading the market" on greenwashing ...

Court ruling reiterates need to comply with AFCA

CASSANDRA BALDINI  |  WEDNESDAY, 25 JAN 2023
... scheme do work in partnership with us, and this is to the benefit of firms as well as consumers," he said. The Federal Court case highlights there are implications for financial firms that don't engage with AFCA's requirements. On handing down ...

ASIC takes civil action against Firstmac

CASSANDRA BALDINI  |  FRIDAY, 16 DEC 2022
ASIC has commenced the first ever court case against a financial product distributor for alleged breaches of design and distribution obligations (DDO). The regulator commenced the civil penalty action in the Federal Court against Firstmac Limited following ...

ASIC launches civil action against American Express

CASSANDRA BALDINI  |  TUESDAY, 6 DEC 2022
ASIC has commenced the first ever court case in relation to alleged breaches of design and distribution obligations (DDO). The case concerns two credit cards issued by American Express (Amex) that were co-branded with retailer David Jones (the credit ...

Six cases brought against Westpac now finalised

JAMIE WILLIAMSON  |  FRIDAY, 22 APR 2022
The six Federal Court cases brought against Westpac by ASIC late last year have been finalised, with the banking giant to pay a total of $113 million in penalties. A decision in the final of the six matters, all overseen by Justice Beach, was handed ...

Plaintiff seeks to ring fence Dixon penalty

KARREN VERGARA  |  THURSDAY, 25 NOV 2021
... Property Fund (URF) and related products between 2 September 2015 and 31 May 2019. ASIC ultimately dropped its Federal Court case against Evans & Dixon and instead ordered it to pay a $8.2 million penalty, of which $1 million will go to the regulator's ...

E&P Financial Group hit with class action

KARREN VERGARA  |  THURSDAY, 4 NOV 2021
... the troubled URF and related products between 2 September 2015 and 31 May 2019. Last July, ASIC dropped its Federal Court case against EP1's financial advice arm and instead ordered DASS to pay $7.2 million in penalty and $1 million to cover its ...

Short-termism damaging climate outcomes

ELIZABETH MCARTHUR  |  WEDNESDAY, 1 SEP 2021
Despite responsible investing becoming the new normal, a panel of experts have argued that short-term thinking is allowing companies to get away with actions that are out of line with action on climate change. Speaking at the Australian Institute of ...
PAGE:
1
PREVIOUS
NEXT