O7540 Justice

ASIC win as adviser jailed for six years

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Original article by Anthony Klan, Richard Gluyas
The Australian – Page: 19/27 : 1-Jul-14

A financial adviser received a jail term of six years and two months in the New South Wales District Court on 30 June 2014. Brian Veitch pleaded to guilty to 22 charges including fraud. He siphoned $A500,000 from client accounts while a financial adviser at WealthSure between 2005 and 2010. On 1 July, the Federal Government will introduce to the Senate its changes to the Future of Financial Advice laws

CORPORATES
WEALTHSURE PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CREDIT SUISSE (AUSTRALIA) LIMITED, DISTRICT COURT OF NEW SOUTH WALES, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN LABOR PARTY, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF FINANCE

Catholic bishop on sex charge

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The West Australian – Page: 1 : 30-Jun-14

Western Australian (WA) Police have charged the present Catholic Bishop of the Australian Defence Force with sexually abusing a minor in 1969. The offence allegedly occurred at St Benedict’s College in New Norcia. The Catholic Church Military Ordinariate of Australia has announced that the 68-year-old will stand aside while the case is being heard by the courts. The accused is the highest-ranking Catholic Church official to be charged with a child sex offence in Australia so far

CORPORATES
CATHOLIC CHURCH, AUSTRALIAN DEFENCE FORCE, AUSTRALIA. DEPT OF DEFENCE, ROYAL AUSTRALIAN NAVY, WESTERN AUSTRALIAN POLICE SERVICE

Labor vow to act on hospital violence

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Original article by Kate Hagan
The Age – Page: 12 : 27-Jun-14

Victorian Auditor-General John Doyle in 2013 noted that public hospitals were failing to document all cases of violence against their staff. Opposition Leader Daniel Andrews has now vowed to address the issue if elected to govern in November 2014. He made the pledge at the 26 June state delegates’ conference of the Australian Nursing Federation. Health Minister David Davis also spoke, and highlighted new laws that include mandatory minimum sentences for those attacking emergency services workers. The Australian Medical Association applauds the Australian Labor Party’s push for greater transparency on the problem

CORPORATES
AUSTRALIAN MEDICAL ASSOCIATION (VICTORIA) LIMITED, AUSTRALIAN NURSING FEDERATION, AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF HUMAN SERVICES, VICTORIA. AUDITOR-GENERAL’S OFFICE, WESTERN HOSPITAL

Tatts wins over Tabcorp

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Original article by Lucille Keen, Scott Parker
The Australian Financial Review – Page: 3 : 27-Jun-14

Gaming company Tatts has succeeded in its claim for compensation from the Victorian Government. Tatts and Tabcorp had taken legal action over the loss of gaming licences. On 26 June 2014, the Supreme Court of Victoria found that Tatts was entitled to $A451 million in compensation plus interest. However, Tabcorp’s claim for compensation of $A687 million was dismissed

CORPORATES
TATTS GROUP LIMITED – ASX TTS, TABCORP HOLDINGS LIMITED – ASX TAH, SUPREME COURT OF VICTORIA, VICTORIA. DEPT OF TREASURY AND FINANCE, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD

Workers’ comp reforms being wound back

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Original article by Anna Patty
The Sydney Morning Herald – Page: 10 : 26-Jun-14

The New South Wales (NSW) Government in 2012 took drastic action to deal with a forecast deficit of $A4bn in the state’s WorkCover scheme. Seriously injured workers no longer received payouts for items such as hearing aids or prostheses. However, WorkCover has now managed to generate a surplus of $A1bn, and on 26 June 2014 NSW Finance and Services Minister Dominic Perrottet will unveil legislation to restore some of the benefits. Earlier in the year, the state parliament had received a study by PricewaterhouseCoopers as the actuary of WorkCover, which showed that even without the 2012 cuts the deficit would fall to $A500m by mid-2018

CORPORATES
NEW SOUTH WALES. WORKCOVER AUTHORITY, NEW SOUTH WALES. DEPT OF FINANCE AND SERVICES, PRICEWATERHOUSECOOPERS, AUSTRALIAN LABOR PARTY, THE GREENS NSW INCORPORATED

Tougher penalties for attacks on police

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Original article by Jane Lee, Richard Willingham, Nino Bucci
The Age – Page: 2 : 26-Jun-14

Victorian Premier Denis Napthine has announced a tightening of laws protecting emergency service workers. Under the changes first foreshadowed in 2010, a minimum prison sentence of three years will be imposed on those who attack police officers, paramedics, firefighters, protective services officers, State Emergency Services workers, on-duty lifesavers or hospital emergency department staff. Attorney-General Robert Clark notes that the number of such assaults is rising due to drug and alcohol abuse, with close to 2,500 reported cases in 2012-13

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VICTORIA. OFFICE OF THE ATTORNEY-GENERAL, VICTORIA. DEPT OF PREMIER AND CABINET, VICTORIA. STATE EMERGENCY SERVICE, THE POLICE ASSOCIATION OF VICTORIA, AMBULANCE VICTORIA FIRST AID, AMBULANCE EMPLOYEES AUSTRALIA

Kennett in Rinehart spotlight

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Original article by Leo Shanahan
The Australian – Page: 6 : 26-Jun-14

The Supreme Court of New South Wales on 25 June 2014 heard that Ginia Rinehart was nominating three candidates for the role of trustee of the family trust at the heart of the legal action. It has been launched by her two eldest siblings against her mother, mining heiress Gina Rinehart. The latter has in the past had sole control of the $A4bn trust, which owns 23.4% of the Hancock Prospecting company. One of the three nominees is Stephen Harvey of Equity Trustees, cross-examined by barrister Christopher Withers about the ties between the Rineharts and Jeff Kennett. The ex-Victorian premier sits on the firm’s board

CORPORATES
EQUITY TRUSTEES LIMITED – ASX EQT, HANCOCK PROSPECTING PTY LTD, HOPE MARGARET HANCOCK TRUST, SUPREME COURT OF NEW SOUTH WALES

Canadian bank axes analysts in Newcrest fiasco

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Original article by Anthony Klan
The Australian – Page: 21 : 26-Jun-14

Newcrest Mining has agreed to pay a penalty of $A1.2m for selectively briefing analysts in late May 2013. The Australian Securities & Investments Commission told the Federal Court that the company breached its continuous disclosure obligations by not informing the wider market as well of its downgraded gold output figures, but the analysts were not to blame. However, Geoff Breen and Michael Orphanides as well as head of research Peter Main departed Royal Bank of Canada (RBC) in mid-2013, soon after it received the inside knowledge from Newcrest. The investment bank has declined to comment

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, ROYAL BANK OF CANADA, RBC CAPITAL MARKETS, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FEDERAL COURT OF AUSTRALIA, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, CREDIT SUISSE AG, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, COLONIAL HOLDING COMPANY LIMITED – ASX CNG, MACQUARIE BANK LIMITED – ASX MBL

Swimmer stars in family feud

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Original article by Hannah Low
The Australian Financial Review – Page: 3 : 25-Jun-14

The Supreme Court of New South Wales on 24 June 2014 continued hearing the dispute over the Hope Margaret Hancock Trust, which owns 23.4% of Hancock Prospecting. Mining heiress Gina Rinehart is accused by two of her children of improperly controlling the entity. Daughter Bianca Rinehart argues she is fit to take over as trustee, and was cross-examined by Richard McHugh SC on behalf of younger sibling Ginia Rinehart. It was also revealed by Chris Withers, acting for Bianca Rinehart, that close friend and Olympic swimmer Grant Hackett was contacted by the mother on 22 June

CORPORATES
HANCOCK PROSPECTING PTY LTD, HOPE MARGARET HANCOCK TRUST, SUPREME COURT OF NEW SOUTH WALES

Australian jihadists can’t be barred from returning home

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Original article by David Wroe, Mark Kenny
The Age – Page: 11 : 25-Jun-14

A legal hurdle has emerged to the plan of the Australian Government to prevent any citizens who have fought with Jihadist terrorist groups oversees from returning home. Immigration Minister Scott Morrison has conceded that the majority of the current 150 or so cases do not involve people with dual nationality. They therefore cannot simply be left stateless by revoking their Australian citizenship. Meanwhile Foreign Minister Julie Bishop has foreshadowed new counter-terrorism laws that will boost the powers of the Australian Secret Intelligence Service

CORPORATES
AUSTRALIAN SECRET INTELLIGENCE SERVICE, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. INDEPENDENT NATIONAL SECURITY LEGISLATION MONITOR