The Australian Securities and Investments Commission has launched court proceedings seeking to wind up investment manager PE Capital Funds Management, whose trustee Endeavour Securities has connections to collapsed financial services company Linchpin Capital, as well as four of its unregistered managed investment schemes.
A judge has denied ASIC’s request that the court hear its case against RI Advice in November, giving the IOOF unit more time to respond to the 800-page expert report filed by the regulator in support of its case that the company lacked adequate cybersecurity systems.
The Australian Securities and Investments Commission has banned the former managing director of collapsed financial services provider Theta Asset Management from providing financial services for four years, after a court hit the company with a $2 million penalty for issuing defective product disclosure statements for a property investment scheme targeting retirees.
A judge has granted OTC trader EuropeFX more time to file its defence to an 80-page statement of claim and over 2,000 pages of particulars filed by ASIC in its case accusing the company of knowingly exposing its Chinese customers to criminal charges.
Non-bank lender Liberty Financial has filed court proceedings seeking to block its manager of treasury from starting a new job at a rival lender for one year.
HWL Ebsworth has been ordered to hand over file notes to a former client and whistleblower suing ANZ for unfair dismissal, with a judge rejecting the law firm’s argument that the notes were created solely for the benefit of the junior solicitor taking them.
Superannuation provider Statewide Super has announced that it will not defend civil penalty proceedings brought by ASIC over an administrative error which resulted in around 12,500 fund members being charged for non-existent insurance.
A mid-trial settlement has been reached in a lawsuit brought by the liquidators of collapsed steel giant Arrium against 10 former company directors and officers for allegedly engaging in insolvent trading.
Westpac has been accused by the corporate regulator of insider trading before the $16 billion privatisation of electricity provider Ausgrid.
Victoria’s attorney-general has appointed star senior counsel for the banking royal commission, Rowena Orr QC, as the state’s highest legal adviser.