ASIC

The applicant in an investor class action over the collapse of advisory firm Linchpin Capital and Endeavour Securities has raised concerns about the authenticity of Linchpin’s business records, which it wants to put into evidence at trial in two months.

The Australian Securities and Investments Commission has launched an investigation into whether Nuix’s current Chief Executive Officer Jonathan Rubinsztein unlawfully bought shares in the company after learning about a potential takeover offer.

A court has tossed a conviction secured in ASIC’s case against a director of collapsed flight booking platform Fly365, saying the case was “doomed to failure.”

The Australian Securities and Investments Commission has dragged lender Money3 to court for allegedly failing to properly assess the creditworthiness of low-income individuals before saddling them with $11,000 loans for second-hand car purchases.

A former director of Australian Mines has copped at $70,000 penalty in ASIC proceedings accusing him of making false and misleading representations at mining investment conferences in 2018.

Insurance Australia has agreed to pay a $40 million penalty in a case by the Australian Securities and Investments Commission alleging it short-changed NRMA customers a staggering $60 million in promised loyalty discounts. 

A court has appointed a referee to examine whether a law firm’s communications with Golden Financial furthered a plan by the financial advisory firm to divert assets to minimise a penalty sought by the corporate regulator in the first case alleging a breach of the so-called best interest duty.

A former Courtenay House contractor and investment promoter is the latest to be sentenced to a term of imprisonment over an alleged $180 million Ponzi scheme, for which he netted $670,000 in commissions.

The parents and receivers for accused Sydney fraudster Melissa Caddick have reached a deal over a multi-million dollar property in Sydney’s East, but the compromise remains to be blessed by out-of-pocket investors.

A Melbourne investor who posted in an online forum that a pump and dump scheme was all part of the “fun and games and cat and mouse of the stock market” has been sentenced to two and half years imprisonment for market manipulation.