Directors have been warned by the corporate regulator to take an active role in the management of cyber risks or face enforcement action.
Administrators for building giant ProBuild have won more time to examine its assets as they try to avoid the “nightmarish prospect” of costly delays to the company’s projects.
The Australian Securities and Investments Commission has dropped all but one claim against Rio Tinto in a four-year-long case over disclosures related to its troubled $5.8 billion acquisition of a Mozambique coal mining business and abandoned all claims against the mining giant’s former CEO and CFO.
The self-declared āwolf traderā of the Gold Coast, Tyson Scholz, will not have to provide a concise statement in response to the Australian Securities and Investments Commissionās case accusing him of providing unlicensed financial services, a judge has ruled.
Former legal representatives of companies in the Mayfair 101 group are considering an application to strike out part of an appeal that alleges their āflagrant incompetenceā led to director James Mawhinney copping a 20-year ban on soliciting investor funds.
Logistics company GetSwift and its directors are appealing a win for ASIC in the regulator’s case that alleged they breached their continuous disclosure obligations and engaged in misleading and deceptive conduct in the release of 22 ASX announcements.
The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.
Aware Finance, formerly StatePlus, has been fined $20 million for charging over 25,000 customers approximately $50 million for services they did not receive.Ā
In a boost to securities class actions, the High Court has ruled that directors of collapsed companies can be subjected to public examination by shareholders wanting to bring civil proceedings.
Rio Tinto will face a penalty in proceedings brought by the Australian Securities and Investments Commission alleging the mining giant misled shareholders about the resources of a Mozambique mining company it acquired for $5.8 billion in 2011 and later offloaded for $70 million.