ASIC

The Australian Securities and Investments Commission says it will make changes aimed at strengthening safeguards for automated and AI-enabled trading, warning AI technology could behave in unpredictable ways.

Private credit lender Remara has been hit with stop orders by ASIC over target market deficiencies, as the regulator warned of an imminent crackdown in the market. 

The corporate cop is calling for a $10.5 million penalty against Sunshine Loans in its unauthorised fees case, saying the payday lender's approach to the enforcement action was an example of "scorched earth" litigation.

Super trustee Netwealth is facing the threat of another class action by investors in Falcon Capital's collapsed First Guardian Master Fund. 

Enforcement action by the corporate cop alleges former Super Retail Group CEO and managing director Anthony Heraghty breached his directors’ duties and provided misleading information to the board and the market.

The corporate regulator has taken a financial products comparison site to court, alleging it misled consumers by representing that it compared options from multiple providers when in reality, consumer enquiries were sold to the highest bidder.

A judge has granted interim freezing orders against Star Investment Group Australia and its director after finding reasonable grounds to suspect it misled investors while promoting a development scheme in regional Victoria.

A company controlled by Paul Chiodo has lobbed a $200 million suit targeting City Built director Roberto Filippini, with the former Keystone director joining the company's liquidators in chasing millions in alleged misappropriated development funds.

A company controlled by Paul Chiodo has lobbed a $200 million suit targeting City Built director Roberto Filippini, with the former Keystone director joining the company's liquidators in chasing millions in allegedly misappropriated development funds.

Beauty brand McPherson's and its former boss are challenging the regulator's win in a case over disclosures related to sales forecasts for the company's Dr LeWinn's skincare range.