Top-tier law firm MinterEllison provided ASIC with a legal opinion on whether it was appropriate for the regulator to cover the tax bill of chairman James Shipton, telling the regulator that it was “standard practice” for an employer to cover the reasonable cost of tax advice.
ASIC has spent $3.2 million so far pursuing billionaire mining magnate Clive Palmer in two criminal lawsuits alleging takeover contraventions and fraud.
A judge has appointed a provisional liquidator to a company owned by missing Sydney businesswoman Melissa Caddick, while criticising ASIC for not cooperating with her brother who is seeking to vary asset preservation orders made over his sister’s property.
The Federal Court judge who is now overseeing a high stakes criminal cartel case against several investment banks and individuals over a $2.5 billion ANZ share placement has ordered that an indictment be filed by February 1, telling the parties “we have to get this case moving” and that he hoped to move the matter to trial “before we all retire”.
A judge has thrown out the portion of a lawsuit brought by an ANZ trader who was sacked in 2015 that was brought under enhanced whistleblower protections that took effect in 2019, saying the civil remedy provisions do not apply retrospectively.
ASIC has launched civil penalty proceedings against Union Standard International Group and its former authorised representatives alleging the embattled Sydney-based forex broker traded in margin products with Chinese clients despite knowing it was illegal under Chinese law.
Embattled Mayfair Group director James Mawhinney is under pressure to secure legal representation to defend his companies against a misleading and deceptive conduct case brought by ASIC, but the Big Six firm he has in mind has yet to commit.
A judge has allowed documents obtained from examination proceedings against directors of Linchpin Capital to be used in a class action against the failed financial services group.
ASIC will not appeal a Federal Court decision tossing the majority of its case against former Tennis Australia director Harold Mitchell and accusing the regulator of “confirmatory bias” in bringing the case, but has foreshadowed fresh claims related to allegedly inconsistent statements given during its investigation.
ASIC has launched civil proceedings against iSignthis and its CEO, alleging the company breached its continuous disclosure obligations by failing to inform shareholders that client Visa had ended their relationship due to concerns over the fintech’s money laundering compliance.