› where claimed Representatives and Licensee owed fiduciary obligations to group members by reason of representations made in financial services guide
› whether common questions of fact and law able to be determined in proceeding
› common questions not able to be determined in proceeding
Corporations
› whether Licensee contravened s 961L of the Corporations Act
› whether Licensee failed to take reasonable steps to ensure that Representatives complied with, relevantly, s 961B and s 961J
› consideration of Licensee’s remuneration policy, incentive program, supervision of Representatives, quality assurance processes and standards
› contravention not established
Corporations
› where group members claim Representatives failed to comply with s 961B and s 961J and Licensee contravened s 961L
› whether common questions of fact and law able to be determined in proceeding
› common questions proposed by respondent able to be determined in proceeding
› contraventions not established
Consumer Law
› whether Licensee made representations as to future matters to applicant that were likely to mislead or deceive
› whether Licensee contravened s 1041H of the Corporations Act, s 12DA of the Australian Securities and Investments Act 2001 (Cth) or s 18 of the Australian Consumer Law in Sch 2 to the Competition and Consumer Act 2010 (Cth)
› contraventions not established
Case Details
Citation[2025] FCA 544
CourtFCA
JurisdictionCommonwealth
Decision Date27 May 2025
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