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FEDERAL COURT
Financial planning
NextGen Financial Group has been ordered by the Federal Court to pay $270,000 to an SMSF trustee over an unpaid AFCA determination regarding inappropriate financial advic...
Financial planning
Select AFSL sales agents, which was penalised by the Federal Court last week, undertook a ‘Refer a Friend’ program without the consent of referred persons that caused an ...
Financial planning
The changes brought in to adjust the BOLR policy were ‘simple’ and did not require extended consultation beyond a few days, according to a senior AMPFP executive....
Financial planning
AMP Financial Planning was critically concerned about a possible ‘BOLR run’ of more than 700 practices seeking to exit after the Hayne royal commission, according to Fede...
Financial planning
A failure to provide a valid ‘legislation, economic, or products’ reason to make disproportionate changes to the BOLR policy forms the crux of AMP Financial Planning’s de...
Funds management
Justice Lisa Hespe has fired a shot across the bows at financial institutions regarding the interoperability of their IT infrastructure in her verdict in the ASIC v AMP F...
Financial planning
The Federal Court has ordered Michael Dunjey’s Ascent Investment and Coaching Pty Ltd and its unregistered managed investment scheme, which owe $149 million to clients, b...
Policy & Regulation
The Federal Court has issued a permanent injunction against finfluencer, Tyson Scholz, to prohibit him from carrying on a financial services business....
Policy & Regulation
The Federal Court has dismissed proceedings brought by ASIC against CBA regarding $55 million in fees being charged to almost one million customers....
Funds management
The Federal Court has ordered managed investment scheme operator, PE Capital Funds Management, into liquidation due to operating schemes without a licence....
Financial planning
The corporate watchdog’s civil penalty proceedings against ANZ mark the final investigation arising from matters considered by the Financial Services Royal Commission....
Financial planning
The corporate regulator has filed a contempt application in Federal Court against James Mawhinney, the director of companies in the Mayfair 101 group....
Financial planning
Former director of Global Merces Funds Management, Holly Grofski, has been charged with three counts of dishonest conduct, one count of providing false information and on...
Funds management
The corporate regulator has alleged PE Capital Funds Management had operated a number of unregistered managed investment schemes without an Australian financial services ...
Life/Risk
TAL is acknowledging the Australian Securities and Investments Commission’s pursuit of charges against in the Federal Court but pointing out that the regulator did not wi...
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Podcast
My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...
Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...
How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...