ASIC has flagged it may take regulatory action against super fund executives and directors for switching personal investment options using insider information.
The corporate regulator has brought proceedings against the former boss of defunct Freedom Insurance and another executive over an insurance sales program that incentivized sales agents with overseas holidays and a Vespa scooter.
The founder of troubled sports streaming start-up Sports Flick has filed a $12.7 million lawsuit against former investors seeking to be reinstated as director and shareholder of the company.
The Federal Court has slugged wealth management firm Colonial First State Investments with a $20 million penalty for misleading almost 13,000 superannuation members about their MySuper entitlements through a “concerted campaign” that lasted two years.
A judge has criticised a proposed settlement notice in a shareholder class action against GetSwift for failing to inform group members of how much they would receive from the “very light” settlement, which relies heavily on the logistics firm’s success after relocating out of Australia.
The Australian Securities and Investments Commission has accused the largest general insurer in Australia of short-changing its customers a staggering $60 million in promised discounts, according to action launched in the Federal Court on Friday.
The former CEO of failed coconut water venture CoCo Joy, which once sponsored the Manly-Warringah Sea Eagles NRL team, faces charges he managed the company while disqualified due to bankruptcy.
The Commonwealth Bankās wealth management unit has agreed to cough up $20 million in penalties for misleading thousands of fund members during the transition to MySuper accounts, but steadfastly maintains its conduct was not part of a ānefariousā plot for profits.
The Australian Securities and Investments Commission has cancelled the licence of embattled former accountant Vanda Gould.
A judge overseeing a cartel case over a $2.5 billion ANZ share placement has granted ANZ’s bid for unredacted documents which the bank says will support its claims that the case should be permanently stayed because of improper dealings between whistleblower JPMorgan, ASIC and the ACCC.