Mayfair 101 director James Mawhinney has sought a temporary stay of ASICās case accusing him of being in contempt of court for allegedly breaching a 20-year ban on selling financial products.
Former legal representatives of companies in the Mayfair 101 group are considering an application to strike out part of an appeal that alleges their āflagrant incompetenceā led to director James Mawhinney copping a 20-year ban on soliciting investor funds.
The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.
Beleaguered investment group Mayfair 101 will have to pay a $30 million penalty after a judge found a $12 million penalty proposed by ASIC was “insufficient”.
The Australian Securities and Investments Commission says beleaguered investment group Mayfair 101 should pay a $12 million penalty after a judge found the company misled investors about its financial products.
The founder of embattled investment group Mayfair 101, James Mawhinney, has said he received legal advice approving the companyās advertising of financial products that a court has found misled investors.
ASIC will not appeal a Federal Court decision tossing the majority of its case against former Tennis Australia director Harold Mitchell and accusing the regulator of “confirmatory bias” in bringing the case, but has foreshadowed fresh claims related to allegedly inconsistent statements given during its investigation.
The Federal Court has ordered former Tennis Australia director Harold Mitchell to pay a $90,000 penalty after a “narrow” win for ASIC in its case over the domestic broadcast rights to the Australian Open.
A judge has handed ASIC a “narrow” win in its action against former Tennis Australia director Harold Mitchell, tossing most of the regulator’s case and accusing it of “confirmatory bias”.
A Marshall Islands-based binary options trader has been hit with a $1.8 million penalty after a judge found it engaged in the “deliberate deception of vulnerable people”.