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NAB says ‘significant’ penalties loom over money laundering breaches
Financial Services November 15, 2019 3:58 pm By Miklos Bolza

The National Australia Bank faces the prospect of “significant monetary penalties” after self-reporting a potentially large number of money laundering and counter terrorism financing breaches […]

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Worrells backs partner targeted by ‘unexpected’ ASIC action
Restructuring & Insolvency November 14, 2019 10:25 pm By Christine Caulfield

Insolvency firm Worrells has come out in support of partner Jason Bettles, who is facing an investigation by the corporate regulator for his work as liquidator of the Members Alliance Group of companies, saying the probe was unexpected.

ASIC lashes out at criticism over new responsible lending guidelines
Financial Services November 14, 2019 11:25 pm By Christine Caulfield

The corporate regulator has shot back at “exaggerated and inaccurate criticisms” that its updated responsible lending guidelines were to blame for lack of access to credit.

Ex-Murray Goulburn execs say judge should not disqualify them again
Securities November 13, 2019 11:27 pm By Miklos Bolza

The former chief financial officer of Murray Goulburn has asked a judge to relieve him from any disqualification order sought by the corporate watchdog in […]

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ASIC wants to probe Worrells liquidator over winding up of Members Alliance Group
Restructuring & Insolvency November 13, 2019 3:45 pm By Miklos Bolza

The Australian Securities and Investments Commission wants to investigate the conduct of a Worrells partner in relation to the winding up of Members Alliance Group, […]

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Cap Coast Telecoms pre-insolvency advisor gets jail time for money laundering
Restructuring & Insolvency November 13, 2019 2:48 pm By Cat Fredenburgh

A former pre-insolvency advisor has been sentenced to four and half years in prison for siphoning money from defunct Telstra dealer Cap Coast Telecoms prior […]

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Merlin Diamond creditors seek to shield rights over assets as liquidation looms
Restructuring & Insolvency November 11, 2019 5:23 pm By Miklos Bolza

A group of unsecured creditors of ‘Diamond Joe’ Gutnik’s mining firm Merlin Diamonds has launched a NSW Supreme Court bid to preserve their rights over […]

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ASIC takes MobiSuper to court for misleading advertising
Financial Services November 6, 2019 9:44 pm By Christine Caulfield

Superannuation fund promoter MobiSuper faces legal action by the Australian Securities and Investments Commission, accused of misleading customers in marketing calls. ASIC filed Federal Court […]

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Ex-Tennis Australia director Harold Mitchell was ‘determined’ to award Open rights to Seven, court hears
ASIC November 4, 2019 11:21 pm By Christine Caulfield

Former Tennis Australia director Harold Mitchell was “pushing very hard” for the Seven Network to score the domestic broadcast rights to the Australian Open in […]

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ASIC wins admissions from NAB in $100M fees for no service case
ASIC November 4, 2019 1:30 pm By Cat Fredenburgh

A hearing scheduled for next year in the Australian Securities and Investments Commission’s case against two NAB wealth management units will focus solely on how […]

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