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Showing 1 - 10 of 885 results for %22Federal Court%22

ASIC wins greenwashing case against Vanguard

JAMIE WILLIAMSON  |  THURSDAY, 28 MAR 2024
The Federal Court determined Vanguard misled investors via claims it made about certain ESG screens it applied to its Ethically Conscious Global Aggregate Bond Index Fund. On March 8, the indexing giant admitted to "engaging in conduct that was liable ...

ASIC ends legal battle: Provide Capital's appeal quashed

ANDREW MCKEAN  |  MONDAY, 18 MAR 2024
The Federal Court has dismissed an appeal by Provide Capital; it must now comply with a notice issued by ASIC to produce documents and pay the regulator's legal costs. ASIC had previously served a notice on Provide Capital to produce documents as part ...

Court dismisses ASIC lawsuit against Finder

KARREN VERGARA  |  FRIDAY, 15 MAR 2024
ASIC's action against Finder Wallet has fallen flat as the Federal Court rejected allegations it was spruiking a financial product related to cryptocurrency. Justice Markovic yesterday dismissed ASIC's case against Finder.com's Finder Wallet and its ...

ASIC succeeds in conflicted remuneration case

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... reasonable steps to prevent its authorised representative accepting conflicted remuneration. On the February 29, the Federal Court found that RM Capital's authorised representative the SMSF Club breached conflicted remuneration provisions. ASIC's ...

Best default super funds revealed

ANDREW MCKEAN  |  MONDAY, 4 MAR 2024
... behind at 7.8%. Looking at a 10-year performance period, Active Super achieved the highest returns at 8.5%, even amid Federal Court proceedings from ASIC over allegations of greenwashing. Aware Super's High Growth strategy and Hostplus' Balanced ...

Count completes Diverger acquisition

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... services." Count paid $1.3651 for every Diverger share following a 99.97% approval from shareholders in January. The Federal Court approved the deal on February 15. Count expects to incur $8 million in one-off transaction and integration costs. This ...

ASIC takes further action on Prospero

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... alleges the amount of money laundered between 2020-2023 was $228,883,561." Consequently, ASIC has applied to the Federal Court to wind up Prospero Markets "on just and equitable grounds", shortly after its AFS Licence was suspended in December 2023 for ...

'ASX Wolf' Tyson Scholz bankrupt in ASIC crackdown

ANDREW MCKEAN  |  FRIDAY, 1 MAR 2024
... effectively declaring him bankrupt. The corporate regulator sought sequestration orders against Scholz for not paying Federal Court-mandated costs associated with his illegal operation of an unlicensed financial services business from March 2020 to November ...

Former Blockchain Global director confined to Australia

ANDREW MCKEAN  |  THURSDAY, 29 FEB 2024
ASIC has obtained an interim order from the Federal Court to restrict former Blockchain Global director Liang Guo, also known as Allan Guo, from leaving Australia. The corporate regulator is currently investigating Guo and two other Blockchain Global ...

Bloom Impact, MSC pulled up for greenwashing

RACHEL ALEMBAKIS  |  THURSDAY, 29 FEB 2024
... Northern Trust Asset Management. ASIC currently has three greenwashing-related civil penalty actions before the Federal Court - Vanguard Investments Australia and Active Super, while a tentative agreement has been reached with Mercer Super for civil ...
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