ASIC

A judge has sound the alarm bell about regulators launching appeals to re-litigate enforcement proceedings, in a recent decision tossing the corporate cop's appeal in a case against insurer HCF Life.

A property developer has been hit with criminal charges relating to an alleged $10 million disability housing fraud scheme following a two-year probe by ASIC.

ASIC’s chair says the corporate cop is investigating individuals at KPMG for alleged misuse of confidential information belonging to Lendlease and Optus to win new work, but says it is hamstrung by current law from undertaking a broader probe. 

The former boss of Metigy has been sentenced to nine years behind bars after pleading guilty to misusing company funds and providing false information to investors, who pumped $40 million into the AI start-up.

A judge has approved a $35 million penalty against HSBC in ASIC’s novel case over the bank's scam protection failures, despite questioning whether the punishment was severe enough given how long the case took to settle.

HSBC has agreed to pay a $35 million penalty in ASIC proceedings after it admitted to serious failures in protecting customers from scams, but a judge is questioning whether the penalty is high enough. 

A judge has ordered the former CEO and chief legal officer of Star to pay a combined $1.1 million in penalties for failing to act on "obvious" money laundering risks, but said the fines would have been higher had ASIC not struck a "generous" settlement with other directors.

The Law Council says asserting legal professional privilege is not "inherently scandalous", ahead of a parliamentary hearing on KPMG's sharing ofclient information, at which law firms Allens and Ashurst are expected to stay mum.

Kicking off its case against former Noumi CEO Rory Macleod, ASIC has told the court that Macleod was clearly aware of the "dramatic" difference between actual available stock and what was reported to the market in 2019 and 2020.

An executive director at ASIC has said the High Court has “opened the door” for regulators to rely on a new way to prove corporate wrongdoing that does not require establishing that individuals within a company had a wrongful intent or relevant knowledge.