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Sydney stockbroker Adam Blumenthal has been ordered to pay close to $1 million after admitting to market rigging and breaching his duties as director of two companies -- including by arranging a $7 million loan to 'ASX Wolf' Tyson Scholz.
The liquidators for Halifax Investment Services were justified in reaching a compromise settlement in proceedings against King & Wood Mallesons alleging the firm and former auditor Bentleys failed to advise the defunct stockbroker that it had to hold client funds used to trade on its online platform on trust, a judge has found.
Sydney lender GEMI may face a class action for allegedly enticing wealthy individuals to make investments in products they were misled into believing were low risk.
In a win for the Australian Securities and Investments Commission, a judge has found that payday lender Sunshine Loans charged thousands of customers prohibited fees, issuing a scathing judgment condemning the company’s “wrongheaded” conduct.
Advisory firm Lanterne Fund, which operated as a 'licensee for hire', has been hit with a $1.25 million penalty for breaching its obligations as a financial services licence holder.
The Australian Securities and Investments Commission is challenging a decision that Finder Wallet did not need a financial services licence to sell its defunct cryptocurrency product.
Mayfair 101's James Mawhinney has been arrested and charged with four counts of engaging in dishonest conduct in running his beleaguered wealth management business.
A judge has refused to redact a judgment signing off on the discontinuance of several product claims in a class action against three AMP subsidiaries after the applicant failed to gather the required evidence, saying it was not enough that the reasons "may be an embarrassment to people who commenced the proceeding".
In a win for the Australian Competition and Consumer Commission, a court has found Dominique Grubisa's DG Institute made misleading statements to students who paid up to $9,000 to enrol in her property investment and wealth management programs.
A funder that bankrolled a class action that was stayed against Dixon Advisory has argued it should receive $969,000 from a $16 million settlement reached in the competing proceedings that went ahead, saying its costs were spent to protect group members’ interests.