The former chief financial officer of delisted Traditional Therapy Clinics has been sentenced to one year and ten months in prison after pleading guilty to market manipulation charges relating to transactions intended to create an artificial share price for the traditional therapy clinic company.
Chinese lender Aoyin wants to join Baker McKenzie to its claims against PwC over a failed bid to launch the first Chinese bank incorporated in Australia, after advice documents from the law firm were uncovered in a last-minute privilege fight.
Fossil fuel giant Shell Australia has partially won a challenge to a tax office decision denying deductions claimed over an acquisition the increased the company’s stake in Woodside Energy’s Browse Basin gas exploration joint venture project.
The Australian Securities and Investments Commission has launched court proceedings seeking to wind up investment manager PE Capital Funds Management, whose trustee Endeavour Securities has connections to collapsed financial services company Linchpin Capital, as well as four of its unregistered managed investment schemes.
A judge has denied ASICās request that the court hear its case against RI Advice in November, giving the IOOF unit more time to respond to the 800-page expert report filed by the regulator in support of its case that the company lacked adequate cybersecurity systems.
A Worrells liquidator facing ASIC proceedings seeking to have his registration cancelled has won costs from the regulator after a judge found he was entitled to a “coherent pleading” and ordered the regulator to file a statement of claim.
The Australian Securities and Investments Commission has banned the former managing director of collapsed financial services provider Theta Asset Management from providing financial services for four years, after a court hit the company with a $2 million penalty for issuing defective product disclosure statements for a property investment scheme targeting retirees.
Several banks and executives facing criminal cartel charges over a $2.5 billion ANZ share placement have won access to interview notes taken by whistleblower JP Morgan prior to it being granted immunity, which the banks say will prove inconsistencies in the prosecution’s case.
Telstra has been fined $50 million for using unconscionable tactics to sign up more than 100 Indigenous customers with post-paid mobile plans they didn’t understand and could not afford, the second highest penalty ever imposed for consumer law violations.
The Australian Competition and Consumer Commission has brought proceedings against industrial technology company Delta Building Automation for allegedly attempting to rig a bid for a tender by the National Gallery of Australia.