ASIC

ASIC is appealing the dismissal of its case against software company Nuix over representations in a prospectus for its $1.7 billion float, saying it was concerned the court got it wrong.

The corporate regulator has filed proceedings alleging superannuation trustee Equity Trustees failed to act in members' best interests by allowing them to sink $65 million into Falcon Capital's First Guardian Master Fund.

ASIC has wrapped up its case against regional airline Rex without evidence from its former executive chairman, who reversed course this week and admitted he misled investors and breached his directors duties.

The former executive chairman at regional airline Rex has admitted ASIC’s claims that he misled investors about the company’s position and breached his directors duties and may give evidence for the corporate watchdog, a court has heard. 

The ASX is fighting for a key witness in ASIC’s case over alleged misleading statements concerning its CHESS replacement program to appear at an upcoming trial, saying he needs to be cross-examined in person. 

Four directors of regional airline Rex are set to decide this week whether they will remain silent in the face of allegations by the corporate regulator that they misled investors about the company’s financial position. 

Receivers appointed in proceedings against Falcon Capital, the firm behind the First Guardian Master Fund, have won orders to sell a $9 million Hawthorn property owned by the company's director.

The Australian Securities and Investments Commission has won a $33.5 million penalty against the operator of online retailer Snaffle for charging consumers inflated prices and overcharging on credit contracts.

ASIC says payday lenders Cigno, BSF and their directors should pay $150 million in penalties, arguing a judge should not have found they were entitled to a reduced $7 million in penalties because they had relied on legal advice from Piper Alderman.