federal court

Financial planning

ASIC brings proceedings against NSW adviser

The Australian Securities and Investments Commission (ASIC) has commenced proceedings against financial adviser Graeme Walter Miller and his related businesses....

Financial planning

Federal Court orders wind up of illegal banking scheme

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

ASIC predicts Superfunded’s bankruptcy with liquidator application

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

Federal Court orders over $7 million in fines

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

ASIC granted injunctions against Superfunded

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

Financial planning

Federal Court imposes first best interest duty breach fine

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 starts penalty proceeding against Westpac

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

Financial planning

Fed Court upholds ASIC right on possible ban

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 moves against Westpac on BBSW

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

Financial planning

ASIC escapes sanction over Storm collapse

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 appointed to companies in suspected ‘Ponzi scheme’

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 granted leave nunc pro tunc to pursue bankrupt ‘adviser’

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

Funds management

Federal Court freezes investment company assets

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

Policy & Regulation

Unregistered ‘tax agents’ cop $900k fines

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 to be hit with class action over Wickham Securities

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 ...