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FEDERAL COURT
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....
Financial planning
Fiducian cleared for corporate restructure and struactural separation of its public offer superannuation fund....
Financial planning
The former director of a foreign exchange provider has been “restrained” from providing financial services after providing services not covered by its licence....
Superannuation
An SMSF trustee has been ordered to pay fines and legal costs of $37,500, after taking advice from a financial planner before providing unauthorised loans to his brother-...
Financial planning
Former Health Minister, Dr Michael Wooldridge, is one of five former directors of Australian Property Custodian Holdings Limited (APCH) who have been penalised by the Fed...
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MARKET INSIGHTS
Podcast
This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...
Interesting. Would be good to know the details of the StrategyOne deal....
It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...