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Showing 1 - 10 of 100+ results for "Federal Court"

ASIC sues former Freedom Insurance staff

KARREN VERGARA  |  MONDAY, 25 OCT 2021
A former Freedom Insurance director and consultant will head to Federal Court for their alleged involvement in aggressive sales tactics. ASIC has commenced civil penalty proceedings against former Freedom Insurance managing director of Keith Cohen and ...

Former Dover adviser banned

ANNABELLE DICKSON  |  THURSDAY, 21 OCT 2021
... ASIC ordered Dover Financial Advisers and its founder Terry McMaster to pay over $1.4 million in penalties by the Federal Court of Australia.

Class action legislation open for consultation

ANNABELLE DICKSON  |  FRIDAY, 1 OCT 2021
... in relation to common fund orders. Meanwhile, recommendation 11, 12, 13 and 16 refer to giving more power to the Federal Court of Australia to reject, vary of amend the terms of any litigation funding agreement and for the Court to appoint a referee ...

AMP reduces super fees

JAMIE WILLIAMSON  |  MONDAY, 20 SEP 2021
... helping them to make good decisions in order to meet their retirement goals." The fee changes come as AMP faces Federal Court over fees for no service charged on corporate super accounts between 2015 and 2019. It is alleged the misconduct saw AMP pocket ...

Criminal charges filed against CBA

ELIZABETH MCARTHUR  |  FRIDAY, 17 SEP 2021
... referred the matter to the Commonwealth Department of Public Prosecutions, which will prosecute the case in the Federal Court. The alleged conduct from CBA that is the subject of these charges was revealed during the Royal Commission and is the subject ...

ME Bank faces criminal charges

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 SEP 2021
ME Bank has appeared in Federal Court, facing criminal charges for allegedly making false and misleading representations in letters to its home loan customers. It is also alleged that the bank failed to provide written notice about annual interest rate ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
The Federal Court has found Colonial First State misled members of its FirstChoice Fund on at least 12,978 occasions over nearly two years in relation to switching to its MySuper product. The court found CFS's communication (via letters and calls) ...

NAB partners with life insurance, advice provider

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
... for 20 years and NAB Health for more than 15 years. Late last month, NAB was ordered to pay $18.5 million by the Federal Court for misleading fee disclosure statements in relation to personal financial advice.

NAB fined $18.5m over misleading fee disclosure

JAMIE WILLIAMSON  |  THURSDAY, 26 AUG 2021
The big four bank has been ordered by the Federal Court to pay $18.5 million for misleading fee disclosure statements in relation to personal financial advice, in what is the first penalty imposed by the court for such failures. The court found NAB ...

Westpac cops $10.5m fine

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
... providing financial product advice, must comply with the law designed to protect consumers." In December 2018, the Federal Court ruled that Westpac Securities and BT Funds Management had breached the Corporations Act when recommending customers rollover ...
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