ASIC commissioner Sean Hughes will step down next month after taking a role with investment manager Vanguard – which paid a $40,000 fine to the corporate watchdog just last month.
Retail giant Harvey Norman and consumer credit provider Latitude Finance have hit back at ASIC claims that they ran misleading ads for interest-free finance, saying reasonable consumers would have known additional conditions were laid out in the ads’ fine print.
A former director of Spaceship Capital Limited has succeeded in overturning a banning order imposed by ASIC, with a tribunal finding he may have been kept in the dark about the software bug that led to the ban.
The founder of investment group Mayfair 101 must foot half his costs of a successful appeal of a 20-year ban on fund raising because of the many “spurious” grounds of appeal he pressed.
The proposed Armaguard merger with rival Prosegur will clearly reduce competition in the cash transport industry but the world without the tie-up might be just as bleak, the ACCC has said.
Gold Coast ‘finfluencer’ Tyson Scholz provided illegal financial services by giving tips on his Instagram account and to customers who paid for access to his seminars and ‘Black Wolf Pit’ chat room, a judge has found.
A precedential ruling on the statute of limitations in a separate case has forced the dismissal of criminal charges against the Commonwealth Bank — after the bank pleaded guilty.
A judge has ordered debt collection agency A&M Group to pay $800,000 after it allegedly harassed and coerced debtors by repeatedly contacting family, friends and employers and claiming they could face imprisonment.
Westpac has agreed to pay $29.95 million to settle a class action alleging subsidiaries BT Funds Management Limited and Westpac Life Insurance Services Limited charged customers excessive superannuation fees between 2007 and 2019.
In only the second case of its kind, ASIC has taken non-bank lender Firstmac to court over alleged breaches of design and distribution obligations in relation to its High Livez managed investment scheme.