A judge has signed off on an agreed-to $5 million penalty against Noumi in ASIC proceedings for violating its continuous disclosure obligations and found the food company’s non-disclosures caused it shares to trade at an inflated price.
A judge has ordered Mercer Superannuation to pay $11.3 million for “reckless, if not deliberate” representations about so-called sustainable investment options that included investment in oil and gas companies, including BHP and Origin Energy.
Sydney-based wealth guru Dominique Grubisa has been banned from managing corporations for 18 months after an ASIC investigation found two companies she managed owed more than $300,000 to creditors.
The Queensland Court of Appeal has knocked back a challenge by jailed investment guru Dr Roger Munro to his conviction on three counts of fraud, which landed him a four-and-a-half month prison sentence.
Hong Kong-based NGS Crypto Group and its director have lost their bid to undo receivership and freezing orders made amid concerns about dissipation of assets as ASIC investigates whether hundreds of Australians who sank $21.1 million into the crypto firm were misled about the safety of their investments.
ANZ has confirmed that senior executives could face consequences in an investigation led by Herbert Smith Freehills and Allens regarding concerns that it manipulated government bond sales last year.
ASIC has brought civil penalty proceedings against Chinese government-owned agri-business COFCO, alleging it manipulated the market for Eastern Australian wheat futures market contracts in 2022.
Four people have been charged with conspiracy to commit market rigging and false trading after an ASIC investigation into an alleged scheme organised on social media app Telegram to pump shares in Australian stocks and dump them at inflated prices.
A judge has ordered credit card giant American Express to pay $8 million in ASIC’s first-ever case over design and distribution obligations, but has criticised the recently enacted provisions as being “poorly drafted”.
Noumi has agreed to pay a $5 million penalty for violating its continuous disclosure obligations in a case brought by the corporate regulator, but the applicant in a shareholder class action against the food company says the sum should be reserved to compensate group members.