The corporate regulator is appealing a judgment that tossed its landmark action against Austo & General Insurance, saying the judge erred in construing an unclear and disproportionate term in the insurer’s house and contents policy.
Sydney stockbroker Adam Blumenthal has been ordered to pay close to $1 million after admitting to market rigging and breaching his duties as director of two companies — including by arranging a $7 million loan to ‘ASX Wolf’ Tyson Scholz.
ASIC chair Joe Longo has called on lawyers to be bold in their embrace of emerging technologies, saying lawyers “must be careful with generative AI but not afraid of it”.
In a win for the Australian Securities and Investments Commission, a judge has found that payday lender Sunshine Loans charged thousands of customers prohibited fees, issuing a scathing judgment condemning the company’s “wrongheaded” conduct.
A former director of Noumi has won his challenge to the food manufacturer’s claim for legal professional privilege over a PricewaterhouseCoopers report commissioned by its lawyers at Ashurst, with a judge finding the company waived privilege by disclosing it to Australian Securities and Investments Commission.
Advisory firm Lanterne Fund, which operated as a ‘licensee for hire’, has been hit with a $1.25 million penalty for breaching its obligations as a financial services licence holder.
The Australian Securities and Investments Commission is challenging a decision that Finder Wallet did not need a financial services licence to sell its defunct cryptocurrency product.
Mayfair 101’s James Mawhinney has been arrested and charged with four counts of engaging in dishonest conduct in running his beleaguered wealth management business.
The Australian Securities and Investments Commission has dropped its investigation into whether Nuix’s chief executive officer Jonathan Rubinsztein unlawfully bought shares in the company after learning about a potential takeover offer.
A funder that bankrolled a class action that was stayed against Dixon Advisory has argued it should receive $969,000 from a $16 million settlement reached in the competing proceedings that went ahead, saying its costs were spent to protect group members’ interests.