Westpac’s defunct mortgage unit RAMS has accused a class action by former franchisees of attempting to “hijack” civil penalty proceedings by the corporate regulator by seeking to intervene in the case.
The corporate regulator has brought its first action targeting a superannuation trustee as part of a wide-ranging investigation to claw back $480 million pumped into Keystone’s failed Shield Master Fund.
Media mogul Antony Catalano will not be required to provide evidence about a deal between Keybridge Capital and Magellan Financial Group after claiming it could put him at risk of incriminating himself as ASIC probes the transaction.
ASIC is again seeking to strike out mining magnate Clive Palmer’s lawsuit over examinations conducted by the regulator, with Palmer claiming the pleadings are “crystal clear”.
The corporate cop can revise its action against Gold Coast property developer ALAMMC to seek winding up orders after concerns have emerged about misuse of $70 million in investor funds.
Magnis Energy Technologies has missed the deadline to file its evidence in ASIC proceedings over allegedly misleading disclosures about its lithium ion battery plant, with a court hearing the company’s new lawyers have not had a chance to brief counsel.
The corporate regulator should not be immune from the risk of special costs for actions doomed to fail, says a judge who flayed ASIC last month for bringing a case against TerraCom directors it should have known was a dud.
Mercer Super faces enforcement action by ASIC, alleging the superannuation giant failed to inform the watchdog about investigations into serious issues, including a failure to refund premiums to dead members.
Online investment platform eToro has won its bid to rely on late expert evidence in ASIC’s first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.
A geological consultant has been sentenced to a suspended 12 months’ prison after pleading guilty to insider trading using information obtained through his work with Beacon Minerals.