INSURANCE – proceeding for civil contraventions of Australian Securities and Investments Commission Act 2001 (Cth) and Corporations Act 2001 (Cth) – where conduct serious – where failures involved misleading or deceptive conduct or conduct that was likely to mislead or deceive and making false and/or misleading representations – where failures breached obligation to do all things necessary to ensure financial services were provided efficiently, honestly and fairly – where mitigating factors present – where parties agree on proposed declarations and pecuniary penalty – whether appropriate for Court to make declarations of contraventions and to impose civil penalties sought – method and recipients of adverse publicity notice.
HELD – Court satisfied that declarations and pecuniary penalty sought appropriate having regard to all relevant matters.
Original article available at: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2023/2023fca0724
For more information, see the original judgement.
