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Showing 1 - 10 of 29 results for "Sarah Court"

Squirrel Super to pay over false property claims

JAMIE WILLIAMSON  |  TUESDAY, 21 JUN 2022
... nobody has reported a financial loss or damage as a result of the misleading representations, however ASIC deputy chair Sarah Court said: "The SMSF sector holds an estimated total value of assets of just over $876 billion. Misleading information about ...

Defective disclosures see Avanteos Investments fined

JAMIE WILLIAMSON  |  WEDNESDAY, 15 JUN 2022
... to the industry to act on advice and rectify problems quickly, or face possible criminal action," ASIC deputy chair Sarah Court said. She added that this case was particularly serious because senior managers within Avanteos were aware of what was happening ...

ANZ sued by ASIC

CASSANDRA BALDINI  |  MONDAY, 30 MAY 2022
... orders from the court that customers who have been wrongly charged since 2018 also be remediated. ASIC deputy chair Sarah Court said: "We are concerned that, over a long period of time, ANZ overstated the available funds and balances on credit card accounts ...

Former adviser sentenced over dishonesty

JAMIE WILLIAMSON  |  TUESDAY, 17 MAY 2022
... hearings, strike-off and criminal prosecution for serious offences," the judge said. Also commenting, ASIC deputy chair Sarah Court said: "Instead of showing the honesty and integrity required of someone who works in the financial services sector, Mr ...

Federal Court rules against RI Advice in cybersecurity case

JAMIE WILLIAMSON  |  THURSDAY, 5 MAY 2022
... licensees, to have adequate cybersecurity systems in place to protect against unauthorised access," ASIC deputy chair Sarah Court said. "ASIC strongly encourages all entities to follow the advice of the Australian Cyber Security Centre and adopt an enhanced ...

Maritime Super slapped with infringement

ELIZABETH MCARTHUR  |  WEDNESDAY, 27 APR 2022
... we were concerned that Maritime members may have been misled by the communications about fees," ASIC deputy chair Sarah Court said. "ASIC has a number of regulatory tools to address alleged misconduct where we are concerned that consumer harm may occur ...

Six cases brought against Westpac now finalised

JAMIE WILLIAMSON  |  FRIDAY, 22 APR 2022
... business to implement appropriate systems and processes to ensure its customers were treated fairly," ASIC deputy chair Sarah Court said. "Westpac, like all licensees, has an obligation to be honest and fair in its provision of financial services. Despite ...

BT Funds Management fined $20m

JAMIE WILLIAMSON  |  FRIDAY, 8 APR 2022
... member accounts eroded their super balances. The commissions charged totaled $9 million, ASIC said, with deputy chair Sarah Court adding that the misconduct "was caused by the failure to implement proper systems to ensure customers are correctly charged". ...

Westpac fined $1.5m for mis-selling insurance

ANDREW MCKEAN  |  FRIDAY, 8 APR 2022
... Westpac didn't have the right to these payments and therefore customers were not liable to pay them. ASIC deputy chair Sarah Court said: "ASIC has identified consumer credit insurance to be a poor value product that leads to poor outcomes for consumers." ...

ASIC takes Federal Court action against Macquarie Bank

ANDREW MCKEAN  |  TUESDAY, 5 APR 2022
... misappropriation of his clients' funds for his own benefit. He pleaded guilty to 15 dishonesty offences. ASIC deputy chair Sarah Court said: "Mr Hopkins misused Macquarie's systems by processing transactions using his fee authority to steal client funds." ...
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