James Arnott

The former CFO of Noumi has been hit with a $100,000 penalty and four-year ban for his involvement in the company’s continuous disclosure breaches, which a judge heard caused him to drink a bottle of wine every night.

The court has rejected Mastercard’s bid to appeal an evidentiary win for the ACCC in the regulator’s misuse of market power case against the payments giant.

A judge has indicated he will sign off on a $100,000 penalty and four-year ban against the former CFO of Noumi, who has admitted his role in the food company’s non-disclosures.

Mastercard is fighting an evidentiary win for the competition watchdog in a case alleging the payments giant misused its market power in deals with major retailers.

A judge has found energy company AGL committed thousands of contraventions of the Retail Rules by continuing to deduct payments from welfare recipients after they had closed their accounts.

The corporate regulator has won its case against Bit Trade, the Australian provider of the Kraken crypto exchange, after a judge rejected the company’s argument that its product was not a credit facility. 

The ACCC has secured $6 million in penalties against wealth education company DG Institute and its CEO Dominique Grubisa, as well as orders that the company refund $14.7 million in course fees to customers who enrolled in its ‘Master Wealth Control’ program.

Noumi has agreed to pay a $5 million penalty for violating its continuous disclosure obligations in a case brought by the corporate regulator, but the applicant in a shareholder class action against the food company says the sum should be reserved to compensate group members. 

The Australian provider of the Kraken crypto exchange has told a court that its margin trading product is not a credit facility, rejecting the corporate regulator’s “overly broad” definition of the word ‘credit’. 

ASIC has argued a recent ruling that found Noumi waived privilege over a PwC report by providing it to the regulator could dissuade people from voluntarily disclosing information during investigations and cause a “loss of public benefit” if allowed to stand.