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Showing 1 - 10 of 10 results for "Justice Beach"

Illegal investment scheme operator to pay $1.25m

ELIZA BAVIN  |  THURSDAY, 28 NOV 2024
... significant losses for investors." Hopkins was also ordered to pay $50,000 of ASIC's costs. In handing down his judgment, Justice Beach found that Hopkins "had a central role as the founder, designer and operator of the unregistered schemes, including ...

ASIC freezes assets of unlicensed property mogul

CASSANDRA BALDINI  |  WEDNESDAY, 8 JUN 2022
... social media and described as "the fastest growing property mentoring company in Australia", ASIC said. The presiding Justice Beach ordered that A Team, Sash Investment Holdings, and Hopkins' assets be frozen, that they disclose their existing assets ...

Six cases brought against Westpac now finalised

JAMIE WILLIAMSON  |  FRIDAY, 22 APR 2022
... 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 down today and saw Westpac fined $40 million for continuing to charge financial advice fees to close to 12,000 ...

BT Funds Management fined $20m

JAMIE WILLIAMSON  |  FRIDAY, 8 APR 2022
... of the six filed by ASIC at once in November 2021 and the first to see a judgement. In handing down his decision, Justice Beach made note of the fact the unlawful deduction of amounts from member accounts eroded their super balances. The commissions ...

Court orders new group definition in CBA advice class action

KANIKA SOOD  |  WEDNESDAY, 23 JUN 2021
... superannuation trusts. They also claim the beneficiaries suffered no actionable loss. On June 18, orders made by Justice Beach ordered the applicants to add a third applicant to the case, flesh out the applicants' fiduciary claims, and change the ...

State Street loses Fearless Girl replica claim

KANIKA SOOD  |  TUESDAY, 2 MAR 2021
... two superannuation funds. The last hearings were held in February 2020, but the court only made orders last week. Justice Beach has ordered State Street's principal claims had failed, but still must make orders about the Fearless Girl replica and ...

Derivatives issuer cops $75m penalty

ELIZA BAVIN  |  MONDAY, 19 OCT 2020
... Markets and Ozifin. AGM was ordered to pay $35 million, while OTM and Ozfin have each been ordered to pay $20 million. Justice Beach handed down the penalty following the February 2020 decision that AGM, OTM and Ozifin had engaged in "systemic unconscionable ...

CBA coughs up $5m over RC case study

ALLY SELBY  |  TUESDAY, 9 JUN 2020
... encouraged other regulated entities to make admissions over failures to avoid heftier penalties. "As recognised by Justice Beach in his judgment, CBA took steps to address the harm that the conduct caused and, importantly, made admissions as to its contraventions ...

Westpac cops BBSW fine

HARRISON WORLEY  |  MONDAY, 12 NOV 2018
... receive the corresponding report within nine months. Commenting on the pecuniary penalty order he imposed on the bank, Justice Beach said if he could, he would have applied a higher penalty. "If I had been permitted to do so I would have imposed a penalty ...

CBA should have done more: Federal Court

HARRISON WORLEY  |  WEDNESDAY, 11 JUL 2018
... penalty over its role in setting the bank bill swap rate said the bank should have better supervised its staff. Justice Beach of the Federal Court delivered the assessment in noting the terms of a court enforceable undertaking entered into by the bank ...
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Editor's Choice

Invesco launches new equity fund

ELIZA BAVIN
Invesco said the new fund will give Australian investors access to a systematic global equity strategy with a 20-year track record.

FCA pursues Neil Woodford again

KARREN VERGARA
The Financial Conduct Authority (FCA) is going after failed fund manager Neil Woodford again, this time for allegedly providing unauthorised investment advice via W4.0, his Dubai-based investment platform.

Former APRA deputy chair launches retirement solutions startup

KARREN VERGARA
A former APRA deputy chair has launched CipherIQ, a new venture that provides retirement solutions via account-based pensions in partnership with superannuation funds, financial advisers and retirees.

Global X launches space tech ETF

MATTHEW WAI
Global X has now launched the space tech ETF (ASX: MOON).

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