All posts tagged "Sarah Court"
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375Australia & NZASIC Sets Out Expectations on Cyber Risk Management
The guidance follows Australia's first Federal Court judgment ruling that an AFS licensee breached its obligations on managing cyber risk.
May 20, 2022 -
448Australia & NZAustralian Court Penalises RI Advice Over Cybersecurity Failures
The ruling is the first of its kind in Australia, and follows cyber incidents that occurred at authorised representatives of RI Advice between 2014 and 2020.
May 6, 2022 -
558Australia & NZAustralian Court Orders Westpac to Pay A$113m in Penalties
The penalties are the result of six proceedings brought by ASIC in November. Westpac had already agreed to pay the penalties and customer remediation.
April 25, 2022 -
575Australia & NZWestpac Super Trustee Fined for Overcharging Commissions
On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.
April 11, 2022 -
330Australia & NZWestpac Penalised in Consumer Credit Insurance Mis-selling Case
Westpac issued consumer credit insurance policies to customers who did not request the product, then asserted a right to payment which customers were not liable for.
April 8, 2022 -
455Australia & NZ
Australian Court Orders Super Trustee to Pay A$20m
Aware Financial Services Australia charged over 25,000 customers over AUD 50 million in fees for financial services it did not provide.
February 23, 2022 -
672Australia & NZStatewide Superannuation Fined for Overcharging, Misleading Members
Statewide also reported its breaches to ASIC some 45 days late. The firm is required to undertake a remediation programme and engage an independent expert for review.
January 20, 2022 -
824Australia & NZ
Australian Court Fines Mayfair Companies for Misleading Advertising
Four Mayfair companies were fined a combined A$30mn for “deliberately" misleading investors into buying highly speculative and risky investment products.
December 24, 2021 -
568Australia & NZ
ASIC Files Multiple Court Proceedings Against Westpac
Westpac has already agreed to admit to the allegations, remediate A$80mn to customers, and pay A$113mn in penalties, subject to court approval.
November 30, 2021 -
240Australia & NZASIC Sues ANZ Over Home Loan Introducer Programme
ASIC says ANZ breached credit laws by accepting customer information and documents from unlicensed individuals, some of which was fraudulent.
November 27, 2021
