ASIC has confirmed it is investigating at least one ratings house which said Keystone’s failed Shield Master Fund was of ‘investment grade’, as the corporate watchdog seeks to claw back $480 million in investor funds.
ANZ has agreed to pay $240 million in penalties to resolve four separate cases by the corporate regulator, including a record $80 million penalty for unconscionable conduct in its dealings with the federal government.
A former head of trading technology at the ASX has filed a lawsuit claiming he was axed after he raised concerns about insufficient resources to operate the market properly, including in relation to the exchange’s CHESS replacement project.
The Finance Sector Union has accused ANZ of being a “bank in crisis”, launching a case in the Fair Work Commission over its handling of mass job cuts.
A Melbourne man has been sentenced to 18 months imprisonment after pleading guilty to trading while in possession of inside information in advance of Westfarmers’ $776 million acquisition of lithium company Kidman Resources in 2019.
A judge has ordered Facebook owner Meta to file its defence in the Australian Competition and Consumer Commission’s three-year-old case over scam cryptocurrency ads on the social media platform.
Facing allegations that it misused its market power with major retailers, Mastercard is challenging a ruling for the ACCC that lays bare discussions about merchant agreements involving inhouse lawyers.
ASIC is trying again to strike out mining magnate Clive Palmer’s case over examinations conducted by the corporate regulator, after a judge found the case was sufficiently clear.
The ACCC has raised competition concerns about the proposed acquisition of Benedict Recycling by its “closest competitor” Igneo Infrastructure Partners, a subsidiary of Australian asset management giant First Sentier Investors.
The ACCC has approved a deal that will see the assets of a unit of materials giant BGC Group sold to Cement Australia, Holcim, Heidelberg Materials Australia and Adbri, after worrying an initial proposal could affect the supply of ready-mix concrete in the Perth area.