Most Recent
Stockbroker ordered to pay $1M in ASIC market-rigging case
Securities 2024-04-17 11:24 pm By Christine Caulfield

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC chair calls on lawyers to be ‘bold’ with AI
Business of Law 2024-04-16 10:02 pm By Sam Matthews

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”. 

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC wins case against payday lender Sunshine Loans over ‘wrongheaded’ fees
Financial Services 2024-04-12 11:08 pm By Sam Matthews

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Noumi can’t keep lid on PwC report in ASIC case
Securities 2024-04-11 11:46 pm By Cindy Cameronne

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. 

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Advisory firm Lanterne cops $1.25M penalty for ‘effectively ignoring’ AFSL obligations
Financial Services 2024-04-11 11:48 pm By Andy Sidler

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC launches appeal in landmark case over Finder Wallet’s cryptocurrency
Cryptocurrency 2024-04-11 3:48 pm By Christine Caulfield

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Mayfair 101 founder James Mawhinney charged with dishonest conduct
Financial Services 2024-04-09 3:24 pm By Christine Caulfield

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC says it lacks evidence to charge Nuix CEO with insider trading
Securities 2024-04-08 11:21 pm By Cat Fredenburgh

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Funder of failed competing class action wants cut of $16M Dixon Advisory settlement
Class Actions 2024-04-03 4:53 pm By Cindy Cameronne

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC wins greenwashing case against Vanguard over $1B fund
Securities 2024-03-28 4:15 pm By Cindy Cameronne

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?