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FEDERAL COURT
Financial planning
A proposal for ASIC criminal trials to be introduced to the Federal Court has received backlash from the Law Council of Australia, which argues the judges lack sufficient...
Financial planning
The Federal Court has appointed two corporate receivers of Brite Advisors to investigate the $1 billion client pension funds under its management since its assets were fr...
Policy & Regulation
The Federal Court has penalised ANZ over its breach of continuous disclosure obligations and has warned other institutions could face a penalty as high as $780 million if...
Superannuation
Super trustee OnePath Custodians has been ordered to pay $5 million for fees for no service misconduct, less than six months after being fined $1.4 million by APRA....
Financial planning
Affected clients of Mercer Financial Advice paid over $14 million in inappropriate ongoing fees, as court documents show ASIC pushed for a penalty of $20 million....
Financial planning
Mercer Financial Advice has been ordered to pay a $12 million penalty for fees for no service and failures in its fee disclosure obligations. ...
Financial planning
A former Ord Minnett financial adviser, who is being sued by the firm, has been temporarily banned from contacting her former clients after it was found 17 clients moved ...
Financial planning
A global advisory firm has been ordered by the Federal Court to freeze its funds and assets for failing to lodge financial statements....
Financial planning
The corporate regulator has taken ‘ASX Wolf’ Tyson Scholz to the Federal Court with a creditor’s petition after he failed to pay more than $450,000 owed to ASIC. ...
Financial planning
After seeing dwindling numbers of advisers and losing a Federal court case regarding an unpaid AFCA determination, NextGen Financial Group is to be wound up....
Funds management
National Australia Bank has been ordered to pay $2.1 million by the Federal Court, the maximum penalty possible for a single breach of unconscionable conduct....
Financial planning
The Federal Court has handed down a penalty to AMP to pay Equity Financial Planners and Wealthstone, two members of the class action....
Financial planning
Members of the AMP BOLR class action will have to wait longer for information on any potential compensation after an update from the Federal Court....
Financial planning
In a curious aside to ASIC’s appeal of the CBA/Colonial First State judgment, the judge has taken issue with the financial services industry’s use of the term ‘grandfathe...
Financial planning
Former Select AFSL and BlueInc Services managing and sole director, Russell Howden, has had a stay order dismissed by the Federal Court as he awaits the outcome of an app...
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Podcast
Who get's the $10M? Where does the money go?? Might it end up in the CSLR to financially assist duped investors??? ...
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...