The Australian Securities and Investments Commission has won its first civil penalty proceeding in a greenwashing case, with a court finding against Vanguard Investments over its $1 billion “ethically conscious” hedge fund.
The Full Federal Court has found a native title tribunal failed to consider climate change when making a finding in relation to four new petroleum production leases for Santos’ Narrabri gas project in New South Wales.
The Full Federal Court has found it was “abundantly clear” on the evidence before a trial judge that funeral expenses insurance provider ACBG misrepresented to Aboriginal customers that it was Aboriginal owned or managed, but found ASIC contributed to the error with its bad pleadings.
International Capital Markets may soon face a third class action, a court has heard, as the first two class actions to be filed against the Sydney-based online broker over risky contracts for difference mull consolidation.
Russia’s largest aluminium producer UC Rusal has lost a breach of contract lawsuit brought against six Rio Tinto companies after they refused to deliver alumina under a joint venture agreement on the basis that doing so would cause them to run afoul of export sanctions imposed after Russia invaded Ukraine.
The Australian Securities and Investments Commission has lost its bid to pursue a disciplinary case against former Grant Thornton director Bradley Taylor over his 2018 audit of fintech firm iSignThis while criminal proceedings are ongoing.
BlueScope Steel is challenging a ruling that it pay a record $57.5 million penalty for engaging in attempted price fixing with flat steel distributors.
A judge has approved a $50 million settlement in a class action against the Commonwealth Bank over allegedly worthless consumer credit insurance after his concerns about a $2.5 million deduction for Deloitte were allayed.
A battle with the competition regulator over the proposed ANZ, Suncorp tie-up has begun, with the first clash involving a group of rival lenders that want their submissions to the ACCC kept under lock and key.
ASIC has lost its challenge to findings that a revenue sharing arrangement between the Commonwealth Bank of Australia and former subsidiary Colonial First State Investments did not breach conflicted remuneration provisions of the Corporations Act.