Legal advice in spotlight as ASIC claims financial services firm diverted funds to limit penalty

Financial Services 2023-05-09 11:28 pm By Gareth Baker | Sydney

A court has appointed a referee to examine whether a law firm’s communications with Golden Financial furthered a plan by the financial advisory firm to divert assets to minimise a penalty sought by the corporate regulator in the first case alleging a breach of the so-called best interest duty.