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Mayfair 101 loses High Court bid to appeal $30M win for ASIC
The High Court has rejected investment group Mayfair 101's bid to challenge a $30 million penalty following a judge's finding that it misled investors about the risk profile of its financial products.
Banks face ACCC scrutiny over interest rate-setting
The competition and consumer regulator is examining how banks set interest rates on savings accounts and why they are not in line with the Reserve Bank's cash rate increases, as part of an inquiry launched in February.
Crypto class action against Qoin issuer trying to bring ‘entirely new’ case, court told
Qoin cryptocurrency issuer BPS Financial is fighting a class action applicant’s bid to amend its case for the fourth time, saying it is trying to bring an "entirely new claim".
Sika’s deal with MBCC Group wins clearance from ACCC with sell-off
The ACCC has given its blessing to Sika's planned acquisition of Germany-based MBCC Group, subject to the divestiture of MBCC's Australian and New Zealand business.
Goldsky director pleads guilty to dishonest conduct charges
The director of collapsed Kingscliff-based hedge fund Goldsky has pleaded guilty to five charges of dishonest conduct.
KordaMentha partners fight examination over Arrium administration
The Australian Securities and Investments Commission is fighting a challenge by three KordaMentha partners to the regulator’s decision to allow insurer Atradius to subject them to public examination over their administration of failed steel giant Arrium.
Forex broker representative loses challenge to ASIC expert opinion
The authorised representative of forex broker Union Standard can't exclude parts of an opinion by an ASIC-appointed expert in a case alleging it traded in margin products with Chinese clients despite knowing it was illegal under Chinese law.
Melbourne University justified in sacking professor over ‘highly inappropriate’ texts: FWC
The Fair Work Commission has upheld the firing of a Melbourne University professor who was found to have pursued an inappropriate personal relationship with a former employee who later complained she had been “groomed”.
‘ASX Wolf’ trader permanently banned from carrying on unlawful financial services business
Gold Coast ‘finfluencer’ Tyson Scholz has been permanently barred from conducting a financial services business without a license, after a court found he provided illegal financial services by giving tips on his Instagram account and to customers who paid for access to his seminars and ‘Black Wolf Pit’ chat room.
Architecture firm to pay $975,000 for attempting to rig bids on $250M university project
Award-wining architecture firm Ashton Raggatt McDougall and its former boss have agreed to pay a combined $975,000 in penalties for attempting to rig bids on a $250 million building project at Charles Darwin University.