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Reforms to Australia's merger review regime kicked in on 1 January, but late-breaking amendments to the new laws mean changes to notification thresholds and further exemptions.
A judge has ordered Australian Unity to pay a $7.1 million penalty in ASIC proceedings alleging it pumped more than $9.5 million into a risky mortgage scheme without properly vetting investors.
Binance has agreed to a $10 million penalty in ASIC’s case alleging the defunct crypto firm misclassified retail customers as eligible to invest in risky derivatives, but a judge wants more details before approving the deal.
Fresh off being sued by ASIC for investing $300 million into Falcon Capital’s failed First Guardian Master Fund, super trustee Diversa has been hit with additional licence conditions by the prudential regulator.
Construction PRO
A tribunal has refused to terminate a lease for a dairy farm in Raleigh, NSW and declined to order $500,000 in compensation over claims the tenants are responsible for deterioration in the property, including the “uncontrolled infestation” of a noxious weed.
Construction PRO
Australian architecture firms Cox and Hassell will team up with Japanese firm Azusa Sekkei to design a new stadium for the 2032 Olympic and Paralympic Games.
A judge has allowed a shareholder class action over the collapse of asset manager Blue Sky to bring insider trading claims against several short sellers, as well as brokers Credit Suisse and Argonaut Securities.
BHP and its in-house labour hire subsidiary have lost their bid to challenge same job, same pay orders by the Fair Work Commission workers at mines in central Queensland.
A MWL financial adviser has been banned for seven years for advising clients to invest most of their super into Keystone's Shield Master Fund, which is suspected of misusing $480 million in investor funds.
A judge has ordered ANZ to pay $250 million in penalties in four cases by ASIC – $10 million more than the bank had agreed to pay – saying ANZ had "substantially deceived” the government by overstating bond trading volumes.