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HSBC has agreed to pay a $35 million penalty in ASIC proceedings after it admitted to serious failures in protecting customers from scams, but a judge is questioning whether the penalty is high enough.
A judge has signed off on a $35 million penalty against HSBC in ASIC’s novel case over the bank's scam protection failures, despite questioning whether the penalty was high enough since the case was settled “quite late in the day”.
A judge has ordered the former CEO and chief legal officer of Star to pay a combined $1.1 million in penalties for failing to act on "obvious" money laundering risks, but said the fines would have been higher had ASIC not struck a "generous" settlement with other directors.
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.
The High Court has unanimously sided with the corporate regulator in finding that cryptocurrency firm Block Earner's 'Earner' product was a financial product and a derivative and that it required a financial services licence.
ARN Media has reached a $12 million settlement with radio personality Kyle Sandilands, who sued the network over its decision to scrap his 10-year $100 million contract following an on-air fight with co-host Jackie 'O' Henderson.
Former directors of failed clothing retailer Mosaic Brands are claiming privilege over retainer letters between Deloitte and the company as special purpose liquidators investigate potential insolvent trading and directors duty breach claims.
Honda has succeed in challenging a $13.6 million damages award to a former dealer whose contract was broken when the car maker transitioned away from a dealer model.
Sportsbet has been ordered to provide a class action with audit position papers from the tax office, as the applicants look to interrogate whether the ATO might exercise its discretion to refund Sportsbet's payments if the company loses the case.
Construction PRO
Super fund trustee REST Nominees is the first of the Dexus bloc of APAC shareholders to challenge a finding that a default notice issued by the board of the airport operator was valid.