Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v Wealth & Risk Management Pty Ltd [2017] FCA 477 File number: VID 238 of 2017
Judge: MOSHINSKY J
Date of judgment: 8 May 2017
Catchwords: CORPORATIONS – financial advice – best interests obligations – obligation of financial services licensee to take reasonable steps to ensure that its representatives comply with ss 961B, 961G, 961H and 961J of Corporations Act – application by regulator for interlocutory injunction to restrain licensee and its agents from making offers of cash payments to prospective retail clients in connection with the provision of financial advice – where independent audit of licensee's operations made serious adverse findings – whether interlocutory injunction should be granted
Legislation: Australian Securities and Investments Commission Act 2001 (Cth), ss 12CB, 12DA, 19 Corporations Act 2001 (Cth), ss 761A, 911A, 911B, 912A, 912C, 961B, 961G, 961J, 961L, 1041E, 1041H, 1101B, 1324 Criminal Code Act 1995 (Cth)
Cases cited: Australian Securities and Investments Commission v Mauer-Swisse Securities Ltd (2002) 42 ACSR 605 Gore v Australian Securities and Investments Commission (2017) 341 ALR 189
Date of hearing: 5 May 2017
Registry: Victoria
Division: General Division
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Category: Catchwords
Number of paragraphs: 70
Counsel for the Plaintiff: Ms CM Kenny QC with Ms L Papaelia and Ms CE Klemis
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