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Showing 1 - 4 of 4 results for "Justice Downes"

ASIC cans timeshare company AFSL

KARREN VERGARA  |  WEDNESDAY, 23 OCT 2024
... not in the consumers' best interests and inappropriate to their circumstances. It was ordered to pay $900,000. Justice Downes said in handing down the ruling at the time: "Such an amount will serve the public interest by deterring future contraventions ...

ASIC delivered court win over Firstmac DDO failure

JAMIE WILLIAMSON  |  THURSDAY, 11 JUL 2024
... reasonable steps to ensure the distribution of the High Livez PDS to term deposit holders was consistent with the TMD, Justice Downes said, adding that the steps it did take were "wholly inadequate." "... it is self-evident that [there] were suitable ...

Court ruling reiterates need to comply with AFCA

CASSANDRA BALDINI  |  WEDNESDAY, 25 JAN 2023
... implications for financial firms that don't engage with AFCA's requirements. On handing down the penalties, Justice Downes said: "Cooperation by AFCA members with AFCA is important to the effective running of the AFCA Scheme." "The conduct involved ...

Federal Court finds against finfluencer

JAMIE WILLIAMSON  |  MONDAY, 9 JAN 2023
... successful share trader who had the ability to identify worthwhile companies in which an investment should be made," Justice Downes said. "It did not matter that the stories did not contain any overt recommendation to acquire the shares: it was enough ...
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