Regulators

The Australian Securities and Investments Commission has handed a permanent ban to a former financial advisor who pleaded guilty to taking $35,000 from his First Nations clients’ superannuation accounts.

The Fair Work Ombudsman has brought its first-ever court proceedings against a franchisor, alleging it is legally responsible for its franchisees’ underpayments of nine workers.

The Indian government has lost a bid to register a trade mark for the word ‘Basmati’, after an IP Australia delegate found rice growers outside of India had an “equally valid claim" to use the term.

The Australian Competition and Consumer Commission has won its appeal against Employsure over alleged misleading Google advertisements, with the Full Federal Court upping the penalty against the specialist workplace relations consultancy from $1 million to $3 million.

Star Entertainment is facing a third shareholder class action alleging it failed to disclose material information about its compliance with anti-money laundering and counter-terrorism financing regulations, after being slapped with $200 million in fines by state gambling regulators.

The Australian Securities and Investments Commission has hit back at a defamation suit by Mayfair 101 founder James Mawhinney over a media release, saying it doesn't meet the new 'serious harm' threshold for defamation matters.

Wilsons Advisory and Stockbroking has paid a $548,328 penalty after the Australian Securities and Investments Commission found its reported Trade With Price Improvement products did not offer price improvement.

Personal lender ClearLoans and its parent company have agreed to pay penalties of just over $6 million to settle the first COVID-19 related case brought by the Australian Securities and Investments Commission.

A former Nuix director has made a bid to stay a shareholder class action, which accuses the software company of failing to alert the market to red flags in the business, pending the outcome of separate proceedings by ASIC.

A judge has grilled the former general counsel of defunct logistics company GetSwift about why he did not confront the company's directors for “bullying” other executives when they raised concerns about alleged continuous disclosure breaches.