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Cbus dragged to court by ASIC for $20M in claim delays
Financial Services 2024-11-12 11:51 pm By Christine Caulfield

The superannuation fund of the construction industry has been hit with ASIC enforcement action, accused of long delays in processing the death and disability claims of thousands of members.

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Noumi privilege ruling could undermine ASIC investigations, Full Court told
Appeals 2024-11-12 11:15 pm By Sam Matthews

ASIC wants the Full Court to overturn a finding that Noumi waived privilege over a PwC report produced under a voluntary disclosure regime, arguing the regime benefits the public in making investigations more efficient.

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Domestic airfares soared after collapse of regional carrier Rex, ACCC finds
Competition & Consumer Protection 2024-11-12 2:32 pm By Julia Kanapathippillai

Australia’s consumer regulator has found that domestic airline customers are facing less choice and higher prices following the collapse of regional airline Rex.

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Companies need to report basis for climate change statements, says ASIC
Climate change 2024-11-12 1:55 pm By Cindy Cameronne

ASIC has proposed that companies be required to disclose the basis for any forward-looking statements concerning climate, as part of new reporting obligations set to take effect next year.

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Investment manager’s not-so ‘Golden Method’ leads to jail time
White Collar 2024-11-11 3:45 pm By Julia Kanapathippillai

A former investment manager who provided investors with forged portfolio reports about his ‘Golden Method’ trading strategy has been sentenced to three years in jail.

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Optus slapped with $12m penalty over Triple-0 outage
Telecommunications 2024-11-08 2:36 pm By Julia Kanapathippillai

Optus has been hit with a $12 million penalty over a ā€œpreventableā€ nationwide network outage in November 2023, which left thousands of customers unable to make emergency calls.

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Australian Clinical Labs flags strike-out bid in OAIC data breach case
Privacy & Cybersecurity 2024-11-08 11:57 pm By Sam Matthews

Australian Clinical Labs may seek to strike out part of the OAIC’s case over a 2022 data breach, arguing it would unfairly allow the watchdog to allege both single and multiple contraventions of privacy law.

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ACCC takes Magnamail to court for misleading prize promotions
Competition & Consumer Protection 2024-11-08 4:26 pm By Julia Kanapathippillai

Court action by the ACCC alleges mail order company Magnamail made misleading statements to hundreds of thousands of people about prizes they weren’t eligible to win.

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Ex-boss of AI marketing company Metigy charged with misleading investors
White Collar 2024-11-08 11:43 pm By Cat Fredenburgh

The former CEO of failed AI marketing start-up Metigy has been charged with providing false statements to investors and misusing his position as a director following an investigation by the corporate regulator.

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ASIC launches formal MinRes probe over Ellison tax dodge claims
Investigation 2024-11-07 11:53 pm By Christine Caulfield

The corporate cop has launched a formal investigation after the airing of tax evasion allegations against Mineral Resources’ billionaire founder, Chris Ellison.

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