court

Funds management

CommSec and AUSIEX receive combined $27.1m penalty

The largest-ever penalty for breaches of Market Integrity Rules has been handed down by the Federal Court to Commonwealth Securities and Australian Investment Exchange. ...

Funds management

Mayfair 101 appeal against $30m penalty dismissed

The Full Federal Court has dismissed an appeal by Mayfair 101 Group to overturn the findings of misleading or deceptive advertising and a $30 million penalty....

Financial planning

Auditors fined for Halifax audit standards breach

EC Audit was fined $40,000 while Robert Evett was fined $10,000 for auditing standards breaches of Halifax Investment Services....

Policy & Regulation

Australasia Wealth’s former director charged

Former director of Australasia Wealth Services and Management, James Feng, has been charged with authorising the making of a false or misleading statement to the Australi...

Policy & Regulation

We have the power to obtain documents says ASIC

Financial services companies cannot necessarily rely on claims of legal privilege to prevent the Australian Securities and Investments Commission obtaining documents – so...

Policy & Regulation

QLD adviser pleads guilty to dishonestly using $1.1m

A Queensland financial adviser has pleaded guilty to dishonestly using around $1.1m of client money for his own use. ...

Superannuation

Courts dismiss two appeals against AFCA

Appeals by QSuper and Investors Exchange Limited against the Australian Financial Complaints Authority have been dismissed by the courts as the body has been found to hav...

Superannuation

Chant West’s legal action against Zenith owners

The decision by the owners of research and ratings house Zenith to call off their bid for Chant West has resulted in the initiation of court action....

Policy & Regulation

Court upholds Storm Financial decision

The full Federal Court has confirmed the directors of Storm Financial breached their duties, after the original judgement was handed down in August 2016....

Policy & Regulation

Former analyst pleads guilty to insider trading

NSW-based Michael Ming Jinn Ho, a former investment analyst, has pleaded guilty to insider trading in securities of Big Un Limited....

Expert Analysis

Operational risk reserves

Financial services barrister, Noel Davis, explores the recent Federal Court decision on IOOF’s use of the member’s reserve and concludes that superannuation fund members ...

Financial planning

Jail time for tax agent

Registered tax agent, Nigel Bradshaw, has been sentenced to a one-year jail term after he was caught stealing refunds from clients....

Financial planning

ASIC takes adviser to court

The corporate watchdog has alleged Keith James Flowers of using his position as director dishonestly and obtaining financial advantage by deception....

Policy & Regulation

Former financial services rep banned for stealing

A former Perth financial services representative has been banned from providing financial services following a Court conviction for four counts of stealing....

Accounting

SMSF accountant pleads guilty on two charges

A NSW SMSF accountant and former financial adviser has pleaded guilty to two charges of making false and misleading statements and fraudulent misappropriation of client f...