Federal Court of Australia
Federal Court of Australia
Australian Securities and Investments Commission v R M Capital Pty Ltd [2024] FCA 151 File number: NSD 906 of 2019
Judgment of: JACKSON J
Date of judgment: 29 February 2024
Catchwords: CORPORATIONS - financial services regulation - first defendant Australian Financial Services Licence holder - second defendant authorised representative under s 916A of Corporations Act 2001 (Cth) - whether licensee took reasonable steps to ensure authorised representative did not receive conflicted remuneration as required by s 963F of Corporations Act - licensee first defendant found not to have taken reasonable steps
Legislation: Acts Interpretation Act 1901 (Cth) s 13 Corporations Act 2001 (Cth) ss 52, 760A, 761A, 761G, 764A, 766B, 910A, 911A, 911B, 912A, 912C, 913B, 916A, 916B, 916F, 960, 961B, 961J, 961L, 963A, 963B, 963C, 963D, 963E, 963F, 963G, 963H, 963J, 963K, 963L, 967, 1317G, 1528, Chapter 7, Parts 7.6, 7.7A Evidence Act 1995 (Cth) s 191 Corporations Regulations 2001 (Cth) reg 7.7A.16B
Cases cited: All Class Insurance Brokers Pty Ltd (in liq) v Chubb Insurance Australia Ltd (No 2) [2021] FCA 782 Australian Competition and Consumer Commission v Volkswagen Aktiengesellschaft [2019] FCA 2166 Australian Securities and Investments Commission v AMP Financial Planning Pty Ltd (No 2) [2020] FCA 69 Australian Securities and Investments Commission v Forex Capital Trading Pty Limited, in the matter of Forex Capital Trading Pty Limited [2021] FCA 570 Australian Securities and Investments Commission v Healey [2011] FCA 717; (2011) 196 FCR 291 Australian Securities and Investments Commission v RI Advice Group Pty Ltd (No 2) [2021] FCA 877 Australian Securities and Investments Commission v Select AFSL Pty Ltd (No 2) [2022] FCA 786 Berenguel v Minister for Immigration and Citizenship [2010] HCA 8; (2010) 264 ALR 417 Blatch v Archer (1774) 1 Cowp 63; (1774) 98 ER 969 Clarke (as trustee of the Clarke Family Trust) v Great Southern Finance Pty Ltd (recs and mgrs apptd) (in liq) [2014] VSC 516 Construction, Forestry, Maritime, Mining and Energy Union v Mechanical Maintenance Solutions Pty Ltd [2022] FCAFC 15; (2022) 289 FCR 508 Coshott v Prentice [2014] FCAFC 88; (2014) 221 FCR 450 Department of Health v Multichem Laboratories Ltd [1987] 1 NZLR 334 Ngankiburka-Mekauwe (Senior Woman of Water) Georgina Williams v Minister for Aboriginal Affairs and Reconciliation [2018] SASC 163 Tesco Supermarkets Ltd v Nattrass [1972] AC 153
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