The Australian Securities and Investments Commission has instituted court proceedings against the insurance arm of Queensland’s peak motoring body alleging it misled customers about their entitlement to discounts on a range of insurance products.
Personal lender ClearLoans and its parent company have been hit with $6 million in penalties for violating consumer credit protections laws, including by failing to respond to financial hardship notices from debtors during the height of the COVID-19 pandemic.
A mortgage broker has lost his challenge to a tribunal’s decision to uphold a lifelong ban by the Australian Securities and Investments Commission.
A judge has declined to stay a class action against BPS Financial, the issuer of cryptocurrency Qoin, in light of similar ASIC proceedings.
Melbourne man Joshua Fuoco has been fined $6,000 and convicted for managing the now defunct consumer lender Financial Circle while disqualified.
GetSwift has been hit with a $15M penalty and several of its directors have been slapped with substantial penalties after the company was found to have misled shareholders in breach of the Corporations Act.
The Australian Securities and Investments Commission’s has detailed its enforcement priorities for 2023, which include a continued focus on predatory lending, crypto-assets and greenwashing.
The former CEO of Big Un Limited has been hit with criminal charges and could face up to ten years in prison after he allegedly communicated inside information about the failed video company.
The founding director of Perth-based exploration company Legacy Iron Ore Limited has been hit with a suspended sentence of three years imprisonment for stealing over $720,000 from the company.
The Australian Securities and Investments Commission has handed a permanent ban to a former financial advisor who pleaded guilty to taking $35,000 from his First Nations clients’ superannuation accounts.