Westpac has agreed to pay $1.5 million to settle proceedings brought by ASIC for misleading 141 customers into believing they had purchased add-on insurance.
A Federal Court registrar overseeing a costs dispute between ASIC and former Tennis Australia president Steven Healy worked in the practice group where the costs were accrued and should recuse herself, the regulator has said.
Embattled mining company Griffin Coal is facing criminal prosecution following a referral from the Australian Securities and Investments Commission over alleged failures to meet financial reporting and officeholder requirements.
Wealth manager MLC Limited has admitted to violating the Corporations Act by failing to send overdue notices to policyholders over a 15-year period, but will defend the bulk of ASIC’s claims in proceedings accusing it of causing $17.5 million in harm to over a quarter of a million consumers.
ASIC has asked a Federal Court registrar who previously worked at Herbert Smith Freehills to step down from overseeing remaining costs disputes in its failed case against former Tennis Australia president Steven Healy, who is represented by the Big Six firm.
The consumer regulator has initiated court proceedings alleging Facebook technology allowed scam cryptocurrency ads featuring celebrities to target susceptible users and that the social media giant failed to take adequate steps to remove them.
Australia ranks second in the world for climate-related lawsuits, and the threat of climate litigation looms larger than ever for Australian companies across all sectors, a new report has found.
Mayfair 101 director James Mawhinney has sought a temporary stay of ASIC’s case accusing him of being in contempt of court for allegedly breaching a 20-year ban on selling financial products.
A former auditor of collapsed video company BigUn has had his company auditor registration suspended for a year following an application by the corporate regulator over a conflict of interest.
A judge has questioned the $55,000 penalty jointly proposed by the parties in ASIC’s case against fintech company Squirrel Super over misleading statements about returns on property statements, saying it “might be a bit light on.”