A judge’s decision to halt questioning about ASIC emails in a class action trial over the 2008 collapse of finance group Octaviar didn’t shut the case down, the Public Trustee of Queensland has told the Full Federal Court, calling the appeal of the class action’s dismissal “completely misconceived”.
ASIC will soon have more ammunition to go after corporate wrongdoers, after the Senate passed legislation that arms the regulator to seek harsher civil and criminal sanctions against banks, their executives and others that breach the corporate and financial services law.
US financial services giant State Street Global Advisers has brought legal action against Maurice Blackburn Lawyers, alleging the law firm’s plan to erect a copy of its Fearless Girl statue in Australia violates its trade mark and breaches consumer laws.
Critical emails from ASIC regarding a $250 million loan facility to Octaviar Group before its 2008 collapse were not only overlooked by the Public Trustee of Queensland in its role overseeing the firm’s finances but were wrongly deemed irrelevant by the judge that heard the case, the Full Federal Court was told.
Technology solutions firm Byte Power Group has paid a $33,000 penalty for violating its continuous disclosure obligations by telling shareholders a proposed cryptocurrency exchange was “well advanced” when development yet to begin.
Two Macquarie Private Wealth advisers have won their appeal of an order by the Australian Securities and Investments Commission that banned them for 10 years for falsifying emails and misclassifying client advice.
AMP executives are the focus of the Australian Securities and Investments Commission’s investigation of the wealth management firm’s fees for no service scandal, a court heard Friday.
A contractor for wealth manager AMP who was arrested while trying to flee the country has pleaded guilty to stealing customer data.
The Australian Securities and Investments Commission will likely appeal a ruling that two Westpac units did not provide personal financial advice as part of a campaign encouraging customers to roll over external superannuation accounts.
Law firms Maurice Blackburn and Phi Finney McDonald have stepped back from a proposed consolidation of their class actions against the Commonwealth Bank of Australia and want to run their own cases again, but now with “harmonised” pleadings.