Most Recent
Fiducian Investment Management has copped a $7.3 million penalty after admitting that it made misleading representations about the ESG credentials of an investment fund, despite senior execs being warned about its exposure to fossil fuels.
Electronics retailer Harvey Norman and consumer lender Latitude Finance have been socked with a total of $55 million in penalties for a misleading ad campaign seen by millions of Australians.
Construction PRO
A court has extended urgent freezing orders against the developers of the $133 million Babylon Apartments in the north-west Sydney suburb of Rouse Hill, in a dispute over a builder's payment debt.
ASIC is seeking a $1.3 million fine against Star’s former CEO Matthias Bekier and a $1.1 million fine against ex-general counsel Paula Martin for breaching their duties by failing to warn the casino operator's board about money laundering risks.
A court has ordered Macquarie Securities to pay an agreed $35 million penalty after finding that “serious deficiencies" in its reporting systems resulted in repeated failures to accurately report short sales.
Delivering his findings on ASIC’s action against Star Entertainment executives on Thursday, Federal Court Justice Michael Lee remarked that the “self-congratulatory submissions" of former board members named in the case were "jarring”.
ASIC has had mixed success in a case against former Star directors and officers, with a judge finding the casino operator’s former CEO and GC breached their duties but that claims against the former board fell short.