A former wealth manager faces action by the corporate regulator for contempt of court after he allegedly breached a court order banning him from involvement in financial services.
Two former directors of a Canberra property development group have lost their bid to bar ASIC from announcing their disqualification, with a tribunal finding this would keep financiers and creditors āin the darkā and make the market less transparent.
A former company secretary of defunct mining and exploration company Continental Coal has pleaded guilty to three criminal charges, including stealing $2.2 million and forging a bank statement.
The Australian Securities and Investments Commission has handed Queensland investment firm Penta Capital a $53,280 fine for allegedly making false statements on its website, including that it managed $6.9 billion on behalf of retail, wholesale and institutional clients.
The Australian Law Reform Commission has recommended extensive reforms to the “confusing maze” that is the Corporations Act, including the creation of a standalone financial services law.
Four current and former Linchpin Capital directors have been disqualified from heading up companies and hit with a combined $390,000 in penalties, after a judge found they improperly used their positions as directors to line their own pockets.
The Australian Securities and Investments Commission has lost its bid to pursue a disciplinary case against former Grant Thornton director Bradley Taylor over his 2018 audit of fintech firm iSignThis while criminal proceedings are ongoing.
In a victory for Zurich Australia, the Australian Securities and Investments Commission has lost its first-ever civil penalty case alleging an insurer failed to act with utmost good faith during claims handling.
A now-banned financial adviser has been hit with two charges of providing misleading information to the corporate regulator during a compulsory examination.
The corporate regulator has brought proceedings against EverBlu Capital and Creso Pharma director Adam Blumenthal, alleging market rigging and breaches of duty, and has accepted an undertaking by the stockbroker that he will quit his involvement in financial services for the next five years.