FEDERAL COURT

Financial planning

The Federal Court has ordered the wind up of an illegal investment scheme known as the VKK Investments Unit Trust and the trustee and operator of that scheme, Gem Managem...

Superannuation

The Australian Securities and Investments Commission has applied to the Federal Court for the appointment of a liquidator to Superfunded, amid various allegations of misb...

Policy & Regulation

The Federal Court has slapped three companies with fines totalling $7,150,000, finding that they engaged in multiple contraventions of financial services and consumer pro...

Superannuation

The Australian Securities and Investments Commission obtained interim injunctions from the Federal Court against Superfunded and its sole director and shareholder....

Financial planning

NSG Services has faced a civil penalty of $1 million by the Federal Court in the first breach of the best interest duty....

Financial planning

ASIC has commenced civil penalty proceedings against Westpac for breaching home-loan responsible lending laws....

Financial planning

An application made by a former AMP planner to restrain ASIC from making a banning decision has been dismissed by the Federal Court....

Policy & Regulation

ASIC has initiated court action against Westpac Banking Corporation over alleged manipulation of the bank bill swap rate....

Financial planning

Victims of the collapse of Storm Financial will not get a second chance to pursue ASIC over perceived failures to publicise concerns about the advice business....

Funds management

Provisional liquidators have been appointed to wind up five companies suspected of operating a ‘Ponzi scheme’, in a case involving two of Australia’s biggest banks....

Financial planning

Clients of a bankrupt ‘financial adviser’ will be able to commence and take fresh proceedings against her at a later date....

Funds management

The assets of three investment companies have been frozen, following an investigation by ASIC surrounding the improper disclosure of publicly solicited funds....

Policy & Regulation

An unregistered ‘tax agent’ who operated his business under H&R Block’s tax agent numbers without the accounting group’s permission, has been fined $900,000....

Financial planning

Sandhurst Trustees will face a class action brought by Wickham Securities investors after being ordered to hand over documents that may show it failed in its obligations ...

Financial planning

Accountant, Mervyn Ross Tarrant, has failed to have a seven-year ban from providing financial services overturned by the Federal Court of Australia....

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MARKET INSIGHTS

So we are now underwriting criminal scams?...

4 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

3 weeks 5 days ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 1 day ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

2 weeks 4 days ago