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AMP faces unconscionable conduct action for charging dead customers
The corporate regulator is taking five AMP entities to court alleging they acted unconscionably by continuing to charge life insurance premiums and advice fees to more than 2,000 customers after they were notified of their death.
In victory for Glencore, High Court won’t weigh in on landmark transfer pricing ruling
The High Court has denied the ATO's request that it weigh in on Australia's transfer pricing regime, leaving in place a Full Court victory for mining giant Glencore that left it paying $2 million of a $92 million bill relating to the sale of copper from a mine in Cobar, NSW.
Former Healthe Care exec pleads guilty to insider trading
A former executive of hospital operator Healthe Care Pty has pleaded guilty to one charge of insider trading for acquiring a large number of shares in Pulse Health while in possession of inside information about the private hospital operator.
EY’s ‘surprising’ switch from Allens to Holding Redlich delays suit over Penrice audits
Ernst & Young has delayed in filing its evidence in a lawsuit by Sydney-based investment firm London City Equities over its auditing of collapsed soda ash maker Penrice after hiring Holding Redlich to replace Allens just a few months before a mediation deadline.
Jump swim school hit with $23M penalty for ‘very serious’ consumer law breaches
The failed franchisor behind the Jump Swim Schools brand has been hit with a $23 million penalty for what a Federal Court judge found were "very serious" consumer law contraventions.
Law firm investigating class action against Nuix over IPO
Phi Finney McDonald is investigating a class action against technology company Nuix over its $2.5 billion float, following troubling reports about the Macquarie-backed company's pre-IPO corporate governance and financial reporting.
ASIC should spell out ‘serious’ insider trading allegations, Westpac tells court
Westpac has argued that ASIC should flesh out its case accusing the banking giant of insider trading before the $16 billion privatisation of electricity provider Ausgrid, saying the regulator has not explained the nature of the alleged inside information.
Rex hit with $66,000 penalty for failing to disclose domestic launch plans
The Australian Securities and Investments Commission has fined Regional Express Holdings $66,000 after finding there were reasonable grounds to believe the airline violated it continuous disclosure obligations by telling a journalist, but not shareholders, about its potential plans to launch domestic operations.
Ex-CFO sentenced to jail time for market manipulation
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.
Baker McKenzie dragged into Chinese lender’s case against PwC over failed Aussie launch
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.