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Fraud charges against ailing Octaviar director dropped
Financial Services 2023-04-03 3:31 pm By Christine Caulfield

Prosecutors have dropped its fraud case against the former chief financial officer of a unit of collapsed Gold Coast finance company Octaviar Investments, citing his poor health.

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Star execs deny duty to ensure casino operator complied with law
Gaming 2023-03-30 5:08 pm By Sam Matthews

Eleven current and former Star Entertainment executives have refuted ASIC’s claims that they breached their duties in relation to the casino operator’s lax money laundering compliance, with all but two denying they had a duty to ensure the company complied with its legal obligations.

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Westpac, ASIC feud over scope of financial services in Ausgrid insider trading case
Corporate 2023-03-30 10:30 pm By Cindy Cameronne

Westpac has hit back at a bid by ASIC to add an allegation to the regulator’s insider trading case that hinges on the bank providing financial services when it traded on the morning of a $16 billion deal to privatise electricity provider Ausgrid.

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Medibank hit with shareholder class action over cyberattack
Class Actions 2023-03-29 11:54 pm By Cat Fredenburgh

Australia’s largest private health insurer Medibank has been hit with a shareholder class action in the wake of a massive cyberattack that left the data of 10 million customers exposed.

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ASIC investigates ASX over CHESS replacement program
Securities 2023-03-29 10:06 pm By Sam Matthews

The corporate watchdog has commenced a probe into ASX’s handling of the CHESS replacement program, including in relation to possible continuous disclosure breaches and misleading or deceptive conduct.

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Beauty brand McPherson’s denies ASIC case over Dr LeWinn sales forecast
ASIC 2023-03-28 9:49 pm By Sam Matthews

Beauty giant McPherson’s has denied ASIC’s claims that it misled the market and breached its disclosure obligations in 2020, arguing that a document showing sales of its Dr LeWinn’s line were down by $21 million was a draft that couldn’t have been used to revise a financial forecast.

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Full Court finds ACCC misstepped by not bringing ‘major failures’ case against Mazda
Appeals 2023-03-23 3:18 pm By Cindy Cameronne

The Australian Competition and Consumer Commission and Mazda have both lost their appeals in a case over the car manufacturer’s ‘appalling’ customer service, with three judges questioning the regulator’s decisions in how it ran the case.

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Mining equipment supplier Qteq denies ACCC’s cartel claims
Competition & Consumer Protection 2023-03-23 9:22 pm By Sam Matthews

Mining equipment company Qteq and its executive chairman Simon Ashton have denied allegations of bid rigging and other cartel conduct levelled by the Australian Competition and Consumer Commission.

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ACCC urged to investigate Etihad for ‘greenwashing’
Climate change 2023-03-23 12:01 am By Cat Fredenburgh

A complaint has been lodged with the Australian Competition and Consumer Commission against Etihad Airways for allegedly making false or misleading statements about its greenhouse gas emissions and plans for achieving net zero emissions.

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Former ANZ unit says ASIC should ask bank for info in fees for no service case
Financial Services 2023-03-21 8:20 pm By Cindy Cameronne

A judge has rejected arguments by superannuation trustee OnePath Custodians that the corporate regulator must look to former parent company ANZ for evidence in its fees for no service case.

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