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HBSC denies ASIC claims it failed to protect customers from scams
Financial Services 2025-06-20 11:21 pm By Sam Matthews

HSBC has hit back at ASIC’s claims that it failed to protect customers from scams, denying it breached its legislative duties despite admitting some of the regulator’s allegations concerning its compliance with the ePayments code, a voluntary code of conduct.

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NAB pays record penalty for breaches of consumer data sharing scheme
Financial Services 2025-06-19 1:04 pm By Andy Sidler

Big Four bank NAB has paid $751,200 for inaccurate credit data disclosures under the Consumer Data Right rules, the largest penalty to date for breaches of the regulations.

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ANZ whistleblower can’t tweak case for 13th time
Financial Services 2025-06-21 5:40 am By Andy Sidler

With three months until trial, a judge has knocked back a former ANZ trader’s bid to appeal a decision which barred him from amending his case for what would have been the thirteenth time.

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ASIC settles case against Hong Kong-based blockchain miner
ASIC 2025-06-18 11:16 pm By Cindy Cameronne

Blockchain mining company NGS Crypto has consented to orders sought by ASIC amid concerns that hundreds of Australians who sank $21.1 million into the business were misled about the safety of their investments.  The Australian Securities and Investments Commission took NGS Crypto Group and its Australian subsidiaries to court, seeking orders winding up the companies,…

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Blue Sky founder can drop class action claims against Gadens, Nine
Class Actions 2025-06-17 11:50 pm By Sam Matthews

A class action alleging a conspiracy against collapsed investment fund Blue Sky continues to be whittled down, with a court giving the firm’s founder the green light to drop claims against a handful of defendants, including law firm Gadens and AFR publisher Nine.

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NAB agrees to $15.5M penalty for ignoring hardship claims
Financial Services 2025-06-13 11:14 pm By Andy Sidler

NAB has agreed to pay a $15.5 million penalty for failing to respond to customer hardship notices, around half the size of the penalty ASIC is seeking against Westpac for similar breaches of the Credit Code. 

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Australian Unity taken to court over $9.5M investment in risky mortgage fund
Financial Services 2025-06-11 11:55 pm By Andy Sidler

The Australian Securities and Investments Commission has launched action against Australian Unity, alleging it pumped more than $9.5 million into a risky mortgage scheme without properly vetting investors.

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Former CEO of BBY charged over $192M Aquila Resources acquisition
ASIC 2025-06-10 11:58 pm By Cindy Cameronne

The boss of defunct stockbroking firm BBY has been hit with criminal charges over the acquisition of $192 million shares in mining company Aquila Resources. 

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Failed NULIS class action can’t duck costs pending appeal
Class Actions 2025-06-05 11:27 pm By Sam Matthews

The lead applicant in a failed class action against ex-NAB super trustee NULIS Nominees has lost his bid to stay a costs order of some $12.5 million pending an appeal.

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Westpac’s RAMS taken to court over ‘widespread’ misconduct across franchise network
ASIC 2025-06-04 12:49 pm By Julia Kanapathippillai

Westpac’s mortgage subsidiary RAMS Financial Group faces penalty proceedings by the corporate regulator after admitting to “widespread” misconduct.

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