The former CFO of Star Entertainment has reached a settlement in ASIC’s case accusing ten executives of breaching their duties in relation to the casino operator’s lax money laundering compliance.
Noumi and auditor Deloitte will pay $43 million to resolve a class action alleging the company misled investors about its inventory, and the class action will make a play for a $5 million penalty agreed to in ASIC proceedings.
The corporate regulator has commenced an investigation into ASX’s one-day technical failure that prevented the settlement of trades on the CHESS system shortly before Christmas.
The Federal Court has slapped non-bank lender Firstmac with an $8 million penalty, the second doled out in ASIC proceedings for violations of the new design and distribution obligations.
Rejecting an urgent travel ban bid by the corporate cop, a court has cleared Melbourne businessman Rashid Alshakshir to fly to Indonesia, saying the evidence did not show he was a flight risk.
The federal government will take on $50 million of Rex Airlines’ debt to keep the troubled regional carrier flying.
A judge has deferred the question of what penalties Harvey Norman and Latitude Finance should face in a case by ASIC until their appeals are heard, noting the “regrettable” fragmentation of the case.
After 30 years at the Australian Competition and Consumer Commission, the watchdog’s CEO will take the reins as chief of the corporate regulator.
A court has ordered ASX-listed childcare company G8 Education to advance the legal costs of its embattled former chair, Jennifer Hutson, who faces a criminal trial next month.
ASIC has won approval to bring claims against troubled regional airline Rex and four of its directors for allegedly misleading investors about the company’s financial position.