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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.
In a new report, ASIC warns Australia risks losing ground to overseas competitors unless it provides more clarity on technologies like tokenised assets and AI, which the regulator said could shake up longstanding assumptions about intent and misconduct.
The corporate cop will not take enforcement action against consumer lender Humm Group or its subsidiaries, following investigations into the companies' reporting processes and contract terms.
A judge has found that ASIC's case against WA gold mining company Wiluna over alleged omissions in a 2022 ASX announcement should await the determination of related cases against two executives, citing the risk of inconsistent findings.
The corporate regulator says platform super trustees are failing to monitor excessive advice fees, risky adviser behaviour and high-risk super switching, despite $1 billion in losses suffered by investors in the wake of the collapse of the Shield and First Guardian Master Funds.
The Australian Securities and Investments Commission has brought proceedings against former Keystone directors and compliance committee members, the latest in a flurry of suits over the collapse of the Shield and First Guardian Master funds.
Super trustee Diversa has denied it is liable for $300 million in alleged investor losses after it made the First Guardian Master Fund available on its platform, pointing the finger at responsible entity Falcon Capital, its directors and ASX-listed promoter Praemium.
A financial licensing expert has predicted that cryptocurrency firm Block Earner will have to produce the legal advice that saw it avoid a penalty at first instance, after the High Court found last week that it needed a financial services licence.
A judge has sounded 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.
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.