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Gov’t throws Rex a lifeline with $50M debt acquisition
Aviation 2025-01-23 1:19 pm By Julia Kanapathippillai

The federal government will take on $50 million of Rex Airlines’ debt to keep the troubled regional carrier flying.

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‘What’s done is done’: Judge defers penalty hearing in Harvey Norman case
Competition & Consumer Protection 2025-01-17 3:04 pm By Sam Matthews

A judge has deferred the question of what penalties Harvey Norman and Latitude Finance should face in a case by ASIC until their appeals are heard, noting the “regrettable” fragmentation of the case. 

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ACCC chief moves to CEO role at corporate regulator
ASIC 2025-01-16 11:28 pm By Andy Sidler

After 30 years at the Australian Competition and Consumer Commission, the watchdog’s CEO will take the reins as chief of the corporate regulator. 

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G8 Education on hook for ex-chair’s criminal defence costs
Trials 2025-01-14 11:08 pm By Julia Kanapathippillai

A court has ordered ASX-listed childcare company G8 Education to advance the legal costs of its embattled former chair, Jennifer Hutson, who faces a criminal trial next month.

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ASIC can bring case against Rex Airlines, directors
Securities 2025-01-06 7:56 pm By Julia Kanapathippillai

ASIC has won approval to bring claims against troubled regional airline Rex and four of its directors for allegedly misleading investors about the company’s financial position.

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ASIC, Noumi win appeal in privilege fight over PwC report
Securities 2024-12-20 5:45 pm By Andy Sidler

An appeals court has overturned a finding that food company Noumi waived privilege over a PwC report commissioned by Ashurst, which it produced to ASIC under voluntary disclosure.

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‘In all circumstances unconscionable’: ASIC wins case against forex broker
Judgment 2024-12-20 5:55 pm By Cindy Cameronne

A judge has found that representatives for forex broker Union Standard used unfair tactics to pressure customers to invest in risky financial products and derived most of their revenue from customer losses, said to total $83 million.

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Swoosh accused of providing credit to financially stressed customers
Financial Services 2024-12-19 11:44 pm By Andy Sidler

ASIC has sued credit contractor Swoosh Finance for allegedly providing unsuitable loans with high fees and interest rates to customers who showed “clear signs of financial distress”.

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ASIC claims crypto firm Binance denied protections to derivatives investors
Cryptocurrency 2024-12-18 5:11 pm By Julia Kanapathippillai

Crypto firm Binance deprived hundreds of customers of consumer protections by misclassifying them as wholesale clients and allowing them to buy risky derivatives, ASIC says.

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Active Super says ASIC penalty would fall on ‘poor old members’
Financial Services 2024-12-17 11:33 pm By Cindy Cameronne

The trustee for Active Super has argued against a $13.5 million penalty proposed by ASIC for greenwashing, saying the tax burden would impact on its members. 

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