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ASIC wins greenwashing case against Vanguard over $1B fund
Securities 2024-03-28 4:15 pm By Cindy Cameronne

The Australian Securities and Investments Commission has won its first civil penalty proceeding in a greenwashing case, with a court finding against Vanguard Investments over its $1 billion “ethically conscious” hedge fund.

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Jan Cameron fined $8,000 for failing to disclose interest in Bellamy’s
White Collar 2024-03-28 10:32 pm By Cat Fredenburgh

Former Bellamy’s Australia director Jan Cameron has been fined $8,000 after being found guilty of two counts of breaching the Corporations Act for failing to disclose her stake in the baby formula company. 

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ACCC review puts the kibosh on REA Group’s acquisition plans
Competition & Consumer Protection 2024-03-28 2:56 pm By Cat Fredenburgh

The owner of realestate.com.au has dropped its plan to acquire a national forms platform used by real estate agents, after the Australian Competition and Consumer Commission commenced a review of the deal off its own bat and raised competition concerns.

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Senate report blasts PwC’s ‘cover-up’ of tax leaks scandal
Tax 2024-03-27 11:02 pm By Cat Fredenburgh

A Senate committee has slammed PricewaterhouseCoopers for hiding behind legal professional privilege and refusing to release a report by law firm Linklaters into alleged wrongdoing by international partners, as the committee seeks more information about PwC partners involved in the firm’s leak of confidential Treasury information.

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Liberty Group’s ‘trust silo’ not used to avoid tax on $98M, appeals court finds
Tax 2024-03-27 10:28 pm By Cindy Cameronne

In a loss for the Australian Taxation Office, an appeals court has found that the Liberty Group’s use of corporate and trust ‘silos’ was not an unlawful tax avoidance scheme.

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Perth adviser jailed for insider trading in Genesis Minerals shares
Securities 2024-03-27 3:34 pm By Sam Matthews

A former corporate adviser will spend at least nine months in jail after pleading guilty to trading in Genesis Minerals shares in September 2021 with insider knowledge, netting almost $60,000 in profits. 

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Former EY partner tries again to keep identity under lid in tax case
Tax 2024-03-25 11:04 pm By Cat Fredenburgh

A former EY partner is trying again to keep their identity secret in proceedings brought by the Tax Office alleging they promoted tax exploitation schemes.

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Judge rejects ASIC’s first case over unfair insurance contract terms
Insurance 2024-03-22 4:18 pm By Sam Matthews

A judge has dismissed the corporate regulator’s first-ever case over unfair insurance contracts terms, finding it was not unfair for an insurer to require customers to notify it if anything changed about their home or its contents.

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ASIC wins travel ban against Dubber CEO, solicitor
Technology 2024-03-22 12:44 pm By Cindy Cameronne

The Australian Securities and Investments Commission has won an interim travel ban against the CEO of software company Dubber Corporation and its external solicitor in Melbourne, with the regulator saying it suspects misuse of term deposit funds. 

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Nature’s Care founders can’t suppress all docs in fight with ATO
Tax 2024-03-20 10:11 pm By Sam Matthews

A judge has rejected sweeping suppression orders sought by the founders of vitamin giant Nature’s Care over documents in a $200 million tax debt stoush with the Deputy Commissioner of Taxation, instead making limited suppression orders in light of the “serious” allegations made in the case. 

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