ASIC

The Commonwealth Bank will plead guilty to criminal charges following an ASIC investigation over misleading representations to customers who purchased add-on consumer credit insurance.

The former lead auditor of stockbroker Halifax Investment Services, whose 2018 collapse resulted in $200 million in investor losses, has had his registration cancelled following an application by the Australian Securities and Investments Commission.

Members Equity Bank faces a potential multi-million dollar fine if it is found guilty of misleading home loan customers in the first criminal prosecution under the consumer protection provision of the ASIC Act to be tried in the Federal Court.

Clive Palmer’s Mineralogy has appealed a ruling tossing a lawsuit it brought against ASIC, which a judge called an “ill-disguised collateral attack” on the regulator for criminal proceedings against the billionaire mining magnate over $12 million in payments made to his political party in 2013.

An award-winning Gold Coast solicitor and four directors of the Members Alliance and Benchmark group of companies have been charged in connection with the collapse of the property investment group in 2016.

Commonwealth Bank of Australia unit Colonial First State Investments is facing penalties after the Federal Court found it misled its customers about their rights and obligations relating to the MySuper reforms passed by the federal government in 2012.

Allianz Australia and its travel insurance unit AWP Australia have been hit with $1.5 million in penalties in ASIC’s case alleging the insurance companies misled customers while selling travel insurance on Expedia websites.

An IOOF unit accused of failing to protect its clients against cybersecurity risks has slammed ASIC’s claims in the novel case, describing the regulator’s further amended statement of claim as “grossly unfair” and “completely incoherent”.

The Australian Securities and Investments Commission issued notices Thursday to Nuix seeking documents in its investigation of the troubled tech company.

A former Deutsche Bank executive named in a criminal cartel case over a $2.5 billion ANZ share placement says the charges against him are defective and should be quashed.