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The private credit firm that backed bankrupt publican Jon Adgemis has failed in its fight for the costs of its court action against the corporate regulato over notices to produce documents it said were shielded by legal professional privilege.
ASIC has cancelled the credit licence of MWL Financial, the latest trouble for the collapsed advisory firm, which is being pursued by the corporate regulator for advising clients to invest their super in Keystone's failed Shield Master Fund.
A judge has refused to make an injunction sought by ASIC against Ryzon Materials, finding the regulator is not entitled to constrain a "hypothetical" transaction while it awaits judgment in its case over the company's battery plant representations.
Another MWL Financial adviser has been disqualified from providing financial services for promoting the collapsed Shield investment fund to clients.
The corporate regulator has completed an investigation into insider trading of WiseTech shares and won't take action against founder Richard White and two other employees.
Liberal senator Dave Sharma has called on ASIC to scrutinise AI data centre company Firmus' withdrawn initial public offering, including representations made to investors.
Construction PRO
Liberal senator Dave Sharma has called on ASIC to scrutinise AI data centre company Firmus' withdrawn initial public offering, including representations made to investors.
The corporate cop has asked a judge to hit the former CEO of collapsed budget airline Rex with an agreed $800,000 penalty for continuous disclosure breaches.
Financial planner Fortnum Private Wealth has been hit with a $1.35 million penalty after admitting it failed to implement adequate cyber security systems, after a breach led to the data of 9,000 customers being published on the dark web.
Construction PRO
The Australian Securities and Investments Commission has called for improvements in how mortgage brokers demonstrate that home loan recommendations are in customers’ best interests.