Big fines for Dover deception
THE Federal Court has ordered Dover Financial and its sole director Terry Mcmaster to pay heavy fines for publishing misleading and deceptive statements in its so-called “client protection policy”.
In a penalty decision announced on Friday, judge Michael O’bryan ordered Dover to pay a $1.2m penalty, with Mr Mcmaster, who fainted while under cross-examination in the 2018 Hayne royal commission, penalised $240,000.
The court ruled in November 2019 that Melbournebased Dover published its client protection policy between September 2015 and March 2018, and that the title was “highly misleading and an exercise in Orwellian doublespeak”.
“The document did not protect clients,” Justice O’bryan said at the time.
“To the contrary, it purported to strip clients of the rights and consumer protections they enjoyed under the law.”
The court found that Mr Mcmaster was “knowingly concerned” in that conduct and had breached a section of the ASIC Act.
Dover ceased to operate after its financial services licence was cancelled in July 2018.
Mr Mcmaster told the court that, since then, his main activities had been winding up the business and collecting debts.
Justice O’bryan ordered Mr Mcmaster and Dover to pay ASIC’S costs.
Across: 1. Perturb, 5. Breadth, 9. Cagey, 12. Alp, 13. Enter, 14. On thin ice, 16. Roots, 17. Own, 18. Cad, 19. Too, 20. Shell, 21. Echo, 24. Vend, 26. Cheerio, 30. Crèche, 33. Relent, 37. Guru, 39. Often, 41. Option, 42. Aplomb, 43. Juror, 44. Bingo, 47. Priest, 50. Synonym, 52. Hyphen, 54. Melee, 56. Exile, 57. Animal, 59. Touchy, 61. Alias, 64. Cyst, 66. Sombre, 69. Static, 70. Poverty, 74. Plus, 76. Soya, 79. Visor, 80. Fig, 81. Nil, 83. Ova, 84. Adieu, 85. Successor, 86. Proud, 87. Gnu, 88. Emend, 89. Standby, 90. Correct.
Insert the missing letters to make five words reading across and five reading down.
Note: more than one solution may be possible