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The fallout from the KPMG leaks scandal has widened, with the corporate regulator launching a review of audit complaints to the Big 4 accounting firms.
The corporate regulator is seeking penalty and disqualification orders against a financial adviser whose businesses allegedly earned $37 million for spruiking the collapsed First Guardian fund, a court has heard.
The Full Federal Court has shot down billionaire Clive Palmer's bid to revive misconduct claims against former ASIC chair James Shipton, calling his case "little more than houses of cards".
The former CEO of the company behind coconut water brand CoCo Joy has succeeded in overturning one of three criminal convictions following an ASIC investigation.
Nuix has lost its appeal of a ruling that found it must pay $20 million in legal costs before its insurers must cover its bills for defending multiple class actions and an ASIC case over its $1.8 billion float.
A judge has hit ASX Limited with a $20.5 million penalty after it admitted that a February 2022 statement to the market that its CHESS replacement project was “progressing well” was misleading.
ASIC may reconsider its approach to claims against non-executive directors after failing to prove that three NEDs of Rex had actual knowledge that the failed budget airline did not have a reasonable basis for a rosy profit forecast, experts told Lawyerly.
A Treasury report has suggested splitting audit functions off from multidisciplinary professional services firms, following whistleblower claims that KPMG leaked confidential client information.
ASX Limited has told a judge it did not intend to mislead shareholders when it told the market that its CHESS replacement project was “progressing well” and that a $20.5 million penalty was sufficient to achieve deterrence.
ASIC has won its case alleging Regional Express failed to correct an optimistic forecast before it entered administration last year, but failed to prove the company's optimism conveyed a "likelihood" or that three non-executive directors had actual knowledge of the collapsed budget airline's declining business.