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Witness who won’t undergo quarantine can testify by video link in ex-Quintis boss’ trial
ASIC 2021-07-16 4:36 pm By Cat Fredenburgh

A judge has allowed a key US-based witness in ASIC’s case against former Quintis director Frank Wilson who will not submit to 14 days in […]

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ASIC drops criminal probe into AMP over fees for no service conduct
Financial Services 2021-07-16 2:24 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has dropped its criminal investigation of AMP over its fees-for-no-service conduct which was aired during the banking royal commission. […]

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Forum Group director stuck overseas after testing positive for COVID-19, court hears
Financial Services 2021-07-15 10:01 pm By Miklos Bolza

The director of the Forum Group companies accused of a $360 million fraud involving at least three major banks can’t return to Australia from Greece […]

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ASIC’s insider trading case against Westpac should be heard ASAP, says judge
Financial Services 2021-07-14 9:53 pm By Cindy Cameronne

ASIC’s case accusing Westpac of insider trading before the $16 billion privatisation of electricity provider Ausgrid should be heard “as quickly as the court can […]

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In third bank action brought over Forum Finance scandal, SMBC seeks $99M 
Financial Services 2021-07-14 6:34 pm By Miklos Bolza

Japanese banking giant SMBC has emerged as the latest lender with exposure to an alleged fraud carried out by Sydney-based Forum Finance, with proceedings filed […]

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ASIC wants Allianz to pay $1.5M penalty for travel insurance sold on Expedia
Insurance 2021-07-13 1:46 pm By Miklos Bolza

ASIC is seeking $1.5 million in penalties against insurers Allianz and AWP after they admitted to misleading or deceiving the public by selling travel insurance […]

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Zurich unit OnePath to refund $35M to tens of thousands of life insurance customers
Financial Services 2021-07-12 3:17 pm By Bianca Hrovat

Zurich Group life insurance subsidiary OnePath Life will refund $35 million to 40,000 customers who were sold life insurance over the phone and were subject […]

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Law firms may be next target of litigation funding reforms
ASIC 2021-07-09 10:12 pm By Cindy Cameronne

ASIC may end exemptions for law firms running class actions under conditional costs schemes from complying with registration and licensing requirements that were put in […]

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Forum Finance placed in liquidation, with ‘peripatetic’ director still abroad
Financial Services 2021-07-09 3:15 pm By Miklos Bolza

The Federal Court has ordered the winding up of Forum Finance, which has been accused by Westpac and French investment bank Societe Generale of a […]

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Dixon Advisory to pay $7.2M for violating best interests duty
Zoe Maud 2021-07-09 10:37 am By Cat Fredenburgh

Dixon Advisory has agreed to pay a $7.2 million penalty after admitting to ASIC’s allegations that it failed to act in its clients’ best interests […]

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