Author Archives: ETE

The Queensland Court of Appeal has dismissed an appeal by Dr Roger Munro against his conviction on three counts of fraud. In May 2022, Dr Munro was sentenced to four and a half years jail with a non-parole period of 15 months, after pleading guilty to the fraud charges (22-102MR). He was released in August […]

Mark Stevens of Kurraba Point, NSW, today appeared at the Downing Center Local Court charged with dishonestly causing a financial disadvantage by deception contrary to section 192E(1)(b) of the Crimes Act 1900 (NSW). Following an ASIC investigation, it is alleged that between 3 June 2016 and 10 June 2016, Mr Stevens dishonestly caused $110,000 payable […]

Stephen Robert Allen, the sole director of K.H.N Holdings Pty Ltd trading as Alkemade & Associates, was sentenced to serve a Community Correction Order of 70 hours over 12 months and fined $20,000 for making false statements to induce others, by the Melbourne County Court on 29 July 2024. Mr Allen was also convicted and […]

ASIC is seeking feedback on our proposal to extend the relief currently provided to employee redundancy funds from the AFS licensing and managed investment provisions of the Corporations Act. The relief is due to expire on 1 October 2024. The proposal involves remaking ASIC Corporations (Employee redundancy funds relief) Instrument 2015/1150 and extending the relief […]

Lenders can do more to help consumers build better credit card habits, an ASIC report reveals. Credit card lending in Australia: Staying in control (REP 788), looked at around 20 million credit card accounts across 13 lenders over six years. ASIC Commissioner Kate O’Rourke said, “While many Australians have changed how they use credit cards, […]

ASIC has released a consultation paper on proposed rules to facilitate competitive outcomes in cash equity clearing and settlement (CS) services provided by the ASX Group. It is the first time ASIC is exercising its new powers under the competition in clearing and settlement (CS) reforms. The consultation seeks feedback on our proposals to: implement […]

The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published their joint Final report on the draft Regulatory Technical Standards (RTS) specifying how to determine and assess the conditions for subcontracting information and communication technology (ICT) services that support critical or important functions under the Digital Operational Resilience Act (DORA). These […]

The FCA has set out a package of measures designed to help strengthen the UK’s capital markets and position as a global and vibrant financial centre. Proposals for new public offers and admissions to trading regime Key to the package are proposed rules to establish the new Public Offers and Admissions to Trading Regime (POATRs), […]

ASIC has banned NSW-based adviser Christopher Edward Luff from providing financial services for five years and has cancelled the AFS licence of his business, Build Your Wealth Pty Ltd (Build Your Wealth). Mr Luff was referred to an ASIC Delegate in relation to concerns about financial product advice he provided, his management of conflicts of […]

CB Payments Limited (CBPL) has been fined £3,503,546 by the Financial Conduct Authority (FCA) for repeatedly breaching a requirement that prevented the firm from offering services to high-risk customers. CBPL is part of the Coinbase Group, which operates a prominent cryptoasset trading platform that is accessible globally. CBPL does not undertake cryptoasset transactions for customers […]