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Showing 1 - 10 of 446 results for %22High Court of Australia%22

Financial services class actions surge

JAMIE WILLIAMSON  |  WEDNESDAY, 20 MAR 2024
... allegations relating to statements about compliance with data-handling and cybersecurity obligations. These types of claims are high risk for consumer-facing organisations, especially those with a significant volume of personal and sensitive data-including ...

Count completes Diverger acquisition

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... functions, transition Diverger employees, and integrate its systems. "This new chapter for Count would enable it to offer high-quality, holistic financial services to more clients in Australia," he said.

'ASX Wolf' Tyson Scholz bankrupt in ASIC crackdown

ANDREW MCKEAN  |  FRIDAY, 1 MAR 2024
... boasts 116,000 followers on Instagram, has recently flaunted his lavish lifestyle on social media, posting videos from a high-end restaurant in Dubai and showcasing drives in a Rolls Royce. Additionally, he shared a message with his followers: "If there's ...

Bragg calls for another Financial System Inquiry, critiques ASIC, APRA

ANDREW MCKEAN  |  FRIDAY, 23 FEB 2024
... Regulators. Emphasising the urgency of an inquiry, Bragg alleged that ASIC has deviated from its sole mandate to enforce Australia's corporate law. "ASIC says its enforcement record is stronger than ever, on the basis that they have had courts impose ...

Rest faces class action over IP premiums

CHLOE WALKER  |  MONDAY, 19 FEB 2024
... members held multiple income protection insurance policies at the same time, the policy provided little to no coverage. Court documents show Rest has until March 28 to file its defence. The first case management hearing is scheduled for May 10. According ...

Commonwealth Bank slapped with $10.3m fine for wage theft

ANDREW MCKEAN  |  FRIDAY, 16 FEB 2024
Commonwealth Bank was fined $10.3 million by the Federal Court for its involvement in wage theft which led to $16 million in underpayments to over 7400 workers. The case emerged after the Finance Sector Union (FSU) uncovered the bank's systematic ...

Unlicensed crypto investor faces jail time

CHLOE WALKER  |  TUESDAY, 6 FEB 2024
... and to roll over their existing superannuation into the SMSF and invest it with his company. In October 2021, ASIC secured court orders against Hala prohibiting him from disposing of, dealing with, or reducing certain assets. Additionally, ASIC obtained ...

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN  |  FRIDAY, 2 FEB 2024
ASIC deputy chair Sarah Court has reaffirmed that the corporate regulator is targeting member service failures, greenwashing, and inappropriate fees and charges, cautioning the superannuation industry to lift its game. At an industry event, Court said ...

Westpac loses Ausgrid rate swap case

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... trading desk achieved a profit of $20.7 million. Close to $ million was paid to the sales team as commission. The Federal Court declared the conduct was unconscionable, including because Westpac was aware the pre-hedging could adversely impact the consortium ...

Massive crypto Ponzi scheme unravels

KARREN VERGARA  |  TUESDAY, 30 JAN 2024
... June 2020 through to early 2022, Lee and Chunga allegedly promoted HyperFund membership packages that guaranteed investors high returns. "As the complaint alleges, however, Lee and Chunga knew or were reckless in not knowing that HyperFund was a pyramid ...
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