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Mortgage Business Asset finance funder fined $750k for unlicensed activities By Annie Kane 29 April 2021 The Federal Court has ordered a former equipment funder to pay a $750,000 court penalty for engaging in unlicensed consumer leasing. The $750,000 civil penalty was handed down by the court after ASIC alleged, and GoGetta admitted, that it had contravened the National Credit Act on several occasions between 30 April 2015 and 21 December 2016...

Rest case one of many industry fund misdeeds: ASIC Rest case one of many industry fund misdeeds: ASIC ASIC’s court action against a major industry fund is the tip of the iceberg when it comes to funds in the space actively discouraging members from rolling their money over to a competitor, according to evidence given at a parliamentary committee. A A Appearing at a recent hearing of the House economics committee, ASIC commissioner Danielle Press said the case against industry fund Rest, which relates to the fund’s alleged actions to discourage members from transferring money to another su...

Rest case one of many: ASIC By Sarah Kendell 14 April 2021 ASIC’s court action against a major industry fund is the tip of the iceberg when it comes to funds in the space actively discouraging members from rolling their money over to a competitor, according to evidence given at a parliamentary committee. Appearing at a recent hearing of the House economics committee, ASIC commissioner Danielle Press said the case against industry fund Rest, which relates to the fund’s alleged actions to discourage members from transferrin...

ASIC obtains compliance orders for SMSF case ASIC obtains compliance orders for SMSF case The Federal Court has made orders compelling a Gold Coast accountant to comply with a court enforceable undertaking, after ASIC alleged she gave inappropriate advice around SMSFs. A A Jenan Oslem Thorne, also known as Cenan Thorne or Cenan Dikman and an accountant with Saber Superannuation, first entered into a court enforceable undertaking (CEU) with ASIC on 13 February 2019, following an investigation that found she failed to act in her clients’ best interests and that she prioritised her own interes...

Date Time ASIC obtains compliance orders for court enforceable undertaking The Federal Court made orders yesterday, 11 March 2021, compelling Gold Coast accountant Jenan Oslem Thorne (also known as Cenan Thorne or Cenan Dikmen), of Saber Superannuation Pty Ltd, to comply with the terms of a court enforceable undertaking (CEU) that she previously entered with ASIC. Ms Thorne first entered into an CEU with ASIC on 13 February 2019, following an ASIC investigation that found she failed to act in her clients’ best interests and that she prioritised her own interests above those of her clients (...