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IOOF financial advice unit RI Advice has escaped a penalty in a test case alleging cybersecurity failures, but the firm must engage an IT security company and pay the corporate regulator's legal costs.
A judge has ordered a temporary stay of ASIC's case accusing Mayfair 101 director James Mawhinney of contempt for breaching a 20-year ban.
ASIC has lost a bid to dismiss former G8 Education chair Jennifer Hutson's application seeking declarations that she was unlawfully examined by the regulator over the company's $162 million hostile takeover bid for Affinity Education Group.
A judge has given the liquidators of Big Un the go-ahead to serve the director of the collapsed video company through his LinkedIn account after several unsuccessful attempts to contact him about proceedings accusing him and others of violating their directors' duties.
A judge has panned ASIC’s bid to discover a wide range of privileged communications between super fund REST and various legal advisers, finding the regulator used a “very wide net” to catch nothing at all.
Industry fund Maritime Super has been fined $26,640 by the corporate regulator for allegedly misleading members about the impact of its partnership with superannuation fund Hostplus.
A judge on Friday slugged Westpac with a $40 million penalty for charging advice fees to over 11,800 dead customers in the last of six cases brought by the corporate regulator, taking the total to be paid by the bank to $113 million.
A judge has approved $32 million in penalties against Westpac in two cases brought by the corporate regulator accusing the bank of misleading thousands of “vulnerable” customers about their debts and failing to manage the accounts of deregistered companies.
IOOF unit RI Advice has agreed to settle novel proceedings brought by the Australian Securities and Investments Commission claiming it failed to protect its clients against cybersecurity risks.
In yet another blow for the embattled wealth manager, the Australian Securities and Investments Commission has suspended Dixon Advisory's financial services licence.