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Showing 1 - 10 of 401 results for "Justice"

First Mutual unregistered MIS wound up

KARREN VERGARA  |  WEDNESDAY, 15 JUL 2026
... investment scheme (MIS), which allegedly gambled $80 million of investor money, has been wound up by the Federal Court. Justice Button approved ASIC's application to facilitate the orderly administration of any remaining assets and to have any available ...

Federal Court lifts Merhi's travel ban

KARREN VERGARA  |  MONDAY, 13 JUL 2026
... financial adviser Ferras Merhi is now free to travel as the Federal Court lifted travel restraint orders imposed one year ago. Justice Moshinski lifted the Merhi's travel ban on July 9. The order stated the travel restraint handed down one year ago be ...

Mercer Super fined $10.3m for reportable situations failures

KARREN VERGARA  |  MONDAY, 29 JUN 2026
... Secondly, Mercer Super failed to report seven reportable investigations to ASIC at all and reported the eighth matter late. Justice Button said the incidents "had the potential to have a detrimental effect on members." The matters included the super ...

Federal Court calls out ASIC for re-running case on appeal

RIDDHIMA TALWANI  |  MONDAY, 22 JUN 2026
... Derrington said. "Appeals by way of rehearing are not de novo proceedings. Rather, they are for the correction of error." Justice Derrington acknowledged that raising new grounds on appeal can sometimes be appropriate but held that where a party deliberately ...

HSBC Bank fined $35m in landmark scam-protection failures

KARREN VERGARA  |  FRIDAY, 19 JUN 2026
... widespread and systemic failures in protecting customers from scams. Following a Federal Court hearing in Melbourne on June 18, Justice Bennett handed down the penalty and ordered HSBC to publish adverse publicity notices across its website, mobile app ...

Former fund manager admits to obstructing SEC probe

KARREN VERGARA  |  TUESDAY, 16 JUN 2026
... who were not aware that Leech was causing them losses to favour others. Leech pleaded guilty to one count of obstructing justice, which carries a maximum sentence of five years' imprisonment. The sentencing is scheduled for September 21. Buckley added ...

ASIC secures record $300m penalty over 'egregious' CFD misconduct

VINNY VUCAGO  |  MONDAY, 15 JUN 2026
... representatives. ASIC described the court action as one of the most serious cases of financial services misconduct it has pursued. Justice Michael Wigney ordered penalties of $156.7 million against Union Standard, $114.1 million against Maxi EFX Global ...

Treasury considers reward system for whistleblowers

RIDDHIMA TALWANI  |  WEDNESDAY, 3 JUN 2026
... on issues which may otherwise go undetected." The terms of reference include consideration of whistleblowers' access to justice, and the effectiveness of the regimes in incentivising whistleblowing and disincentivising misconduct, Mulino added. "Corporate ...

Westpac fined $26m for financial hardship neglect

KARREN VERGARA  |  WEDNESDAY, 27 MAY 2026
... St George Bank, Bank SA and Bank of Melbourne. Westpac blamed the oversight on "technology failure". On the contrary, Justice McEvoy said, "while the contraventions were not suggested to be deliberate and arose instead from inadequate systems and operational ...

Combating modern slavery difficult but not impossible: RIAA

KARREN VERGARA  |  MONDAY, 18 MAY 2026
... in relation to the Modern Slavery Act, with potential changes to the Act in the future." A new report from the Migrant Justice Institute calls out the superannuation sector as one hotbed that helps obfuscate the underpayment of migrant workers and aids ...
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