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Recordkeeping & Evidence

CASE INSIGHT

Symond v Gadens Lawyers Sydney Pty Ltd [2013] NSWSC 955

Symond v Gadens Lawyers [2013] NSWSC 955 examines professional negligence in specialist tax advice, the dangers of categorical “tax-free” advice, duties to explain material tax risks and alternative structures, and the apportionment of loss between professional advisers.
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CASE INSIGHT

ASIC v Netwealth Investments Limited [2026] FCA 1186

The Federal Court’s decision in *ASIC v Netwealth Investments Limited* [2026] FCA 1186 highlights the importance of robust investment due diligence, ongoing monitoring and member disclosure for superannuation trustees and AFSL holders. The Court declared contraventions of the duty to provide financial services efficiently, honestly and fairly, following admitted failures concerning First Guardian investment options and more than $100 million in member compensation.
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CASE INSIGHT

AFCA Determination 12-24-140667

AFCA’s determination in Case 12-24-140667 highlights the risks of failing to deliver ongoing financial advice services. Halo Financial Services was ordered to compensate clients after missed insurance reviews and inadequate superannuation monitoring contributed to substantial losses.
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CASE INSIGHT

Australian Securities and Investments Commission v Westpac Banking Corporation (Omnibus) [2022] FCA 515

In ASIC v Westpac Banking Corporation (Omnibus) [2022] FCA 515, the Federal Court imposed $113 million in penalties across six proceedings involving systemic fee, insurance, debt-sale and customer-account failures. The decision reinforces the independent obligation to provide financial services efficiently, honestly and fairly, supported by effective systems, records and remediation.
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CASE INSIGHT

Australian Securities and Investments Commission v Sino Australia Oil and Gas Limited (prov liq apptd) [2016] FCA 42


In ASIC v Sino Australia Oil and Gas Ltd [2016] FCA 42, the Federal Court upheld the validity of a voluntary administration appointment under s 436A of the Corporations Act 2001 (Cth). The decision highlights the importance of genuine director opinion, contemporaneous board records and clear evidence of likely insolvency.
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