A former contractor of investment management fund Courtenay House who received over $670,000 in commissions from investors has pleaded guilty to two criminal charges after an ASIC investigation revealed the company duped 585 investors in a $180 million Ponzi scheme.
The corporate cop has named eleven current and former Star Entertainment directors and officers in a civil penalty case alleging breaches of duties in relation to the company’s non compliance with anti-money laundering laws.
The former chief financial officer and chief risk officer of South Australian industry super fund Statewide Superannuation have been hit with criminal charges related to the procurement of services from financial services platform Cosight.
The Australian Securities and Investments Commission has sued health and beauty giant McPherson’s Limited and its former CEO over alleged continuous disclosure breaches and misleading or deceptive conduct during a capital raise in late 2020.
The Australian Securities and Investments Commission has brought proceedings against insurance company OnePath Life, marking the first time the corporate regulator is seeking financial penalties for an alleged failure to act with utmost good faith during claims handling.
ASIC has taken American Express Australia to court over two credit cards co-branded with department store David Jones which the regulator alleges customers mistakenly believed were loyalty cards.
A judge has set aside a tribunal’s decision not to disqualify a SMSF auditor for breaching independence rules, finding the tribunal had failed to consider general deterrence.
Vanguard Investments has coughed up almost $40,000 for allegedly misleading investors about funds that purportedly did not invest in companies that sell or manufacture tobacco.
ASIC has lost a case accusing the Commonwealth Bank of Australia of hitting customers with $55 million in unauthorised fees, with a judge finding that nearly 1 million customers charged the fees should have known that even banks “sometimes make mistakes”.
Payday lenders BHF Solutions and Cigno are fighting ASIC’s bid for an injunction barring them from breaching consumer credit laws, with BHF claiming it should not be exposed to contempt.