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A judge has hit ASX Limited with a $20.5 million penalty after it admitted that a February 2022 statement to the market that its CHESS replacement project was “progressing well” was misleading.
ASX Limited has told a judge it did not intend to mislead shareholders when it told the market that its CHESS replacement project was “progressing well” and that a $20.5 million penalty was sufficient to achieve deterrence.
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.
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.
A failed class action against former NAB super fund trustee NULIS Nominees over $165 million in conflicted remuneration has asked the High Court to revive the case and provide clarity on the fees for-profit trustees can charge for their compensation.
ASX Limited has reached a settlement with the corporate regulator just hours before a scheduled trial in a case over a market announcement that said its CHESS replacement project was “progressing well”.
A judge overseeing ASIC’s case against the ASX over its CHESS replacement plan will allow remote evidence by the US-based director of a New York tech company, who allegedly gave the exchange an assurance about the project's timeline.
An ASX statement from budget airline Rex that was optimistic about its 2023 profit prospects should have been corrected by April, ASIC has told a judge, disputing claims that the statement was not a forecast but merely an expression of what the board hoped for.
Former NAB super fund trustee NULIS Nominees was able to charge $165 million in fees for paying adviser commissions after conflicted remuneration was banned in 2016, an appeals court has ruled.
ASIC has wrapped up its case against regional airline Rex without evidence from its former executive chairman, who reversed course this week and admitted he misled investors and breached his directors duties.