The Australia and New Zealand Banking Group has hit back at ASIC proceedings alleging it saddled hundreds of thousands of customers with cash advance fees after providing them with incorrect account balances, saying its customers were “expressly on noticeā the fees would be charged.
Australian Mines has agreed to pay a $450,000 penalty to settle proceedings brought by ASIC after its managing director was allegedly caught lying at an investment conference about the value of an offtake agreement and funding for a project at its cobalt and nickel mine in Queensland.
The Full Federal Court has dismissed former Blue Star Helium CEO James Cruickshank’s challenge to a $40,000 penalty and four-year ban for failing to disclose to shareholders the identity of the buyer behind a botched sale of Texas oil assets.
The Australian Securities and Investments Commission will not seek to enforce a $7.2 million penalty agreed to by Dixon Advisory after admitting to the regulatorās allegations that it failed to act in its clients’ best interests.
The lead auditor for Big Un’s flawed 2017 independent audit, which overstated the failed video company’s cash and cash equivalents by $8.2 million, has been convicted of failing to comply with auditing standards following an investigation by ASIC.
The corporate regulator will challenge a bid by payday lenders Cigno and BHF to stay its case pending their appeal to the High Court.
A judge has allowed receivers to sell the Dover Heights mansion of Sydney fraudster Melissa Caddick without any distribution of proceeds, saying the sale āshould take place post-hasteā.
A judge has given ASIC the green light to continue proceedings against a defunct funeral insurer which allegedly misled Aboriginal customers about being Indigenous-owned and claims that its products were specifically beneficial for First Nations people.
A judge has shot down ASIC’s bid for declarations against life insurer Select AFSL before a penalty hearing after finding that the insurer acted unconscionably when selling insurance over the phone.
Accused Ponzi schemer Chris Marco has been hit with criminal charges after an investigation by the Australian Securities and Investments Commission found he defrauded $36.5 million from nine investors.