Delivering on one of its enforcement priorities, the Australian Securities and Investments Commission has taken two units of insurer IAG to court for allegedly misleading home owners insurance customers about loyalty discounts.
Former G8 Education chair Jennifer Hutson has lost an appeal of a decision that found she was not unlawfully examined by the corporate regulator over the childcare company’s $162 million hostile takeover bid for Affinity Education Group.
The corporate regulator has failed in its case targeting an individual insolvency practitioner for alleged illegal phoenix activity.
Mercer Superannuation is likely to admit liability in the corporate regulator’s maiden greenwashing case, a court has heard.
ASIC has lost its challenge to findings that a revenue sharing arrangement between the Commonwealth Bank of Australia and former subsidiary Colonial First State Investments did not breach conflicted remuneration provisions of the Corporations Act.
Cryptocurrency lender Helio Lending Pty has been slapped with a non-conviction bond for falsely claiming that it held an Australian credit license.
Noumi has admitted in a case by ASIC to breaching its continuous disclosure obligations by overstating the value of its inventory and failing to give a true and fair view of the company’s financial position.
Active Super has become the latest target of greenwashing claims by ASIC, with the corporate regulator alleging it misled the market about its responsible investment credentials, including by investing in coal mining, gambling, tobacco and Russian companies.
The Australian Securities and Investments Commission has brought legal action against debt management business Solve My Debt Now and its director, alleging customers were usually left in greater debt after using its services.
ASIC is seeking penalties against Dixon Advisory & Superannuation Services director Paul Ryan for allegedly failing to consider clients when executing a deed that affected the financial advice firm’s ability to recoup a $19 million debt from its holding company.