Despite previously remarking that the penalty was “a bit light on”, a judge has ordered Squirrel Superannuation to pay $55,000 for false and misleading marketing linked to property investment for investors with self-managed superannuation funds.
Salter Brothers has won its lawsuit against former Hendry Group CEO Emma Hendry alleging the firm was misled into investing millions of dollars into the investment firm in 2019.
Former Commonwealth Bank subsidiary Avanteos Investments has been slugged with a $1.7 million penalty after pleading guilty to charges it failed to update disclosure statements on products that continued to deduct adviser fees from accounts of dead superannuation members.
A judge has granted ASIC a hotly contested extension of time in appeals brought by Mayfair Group and founder James Mawhinney after a judge slapped the investment group with a $30 million penalty.
The law firm that’s running a shareholder class action against payment processing company EML will seek a group costs order for a 30 per cent cut of the suit’s proceeds.
The Australian Securities and Investments Commission has put issuers of superannuation and managed funds on notice that it is monitoring the market for ‘greenwashing’ in promotions for sustainability-related products.
Mayfair Group’s James Mawhinney has given an undertaking to not contact group members in a class action against a trustee of the collapsed IPO Wealth fund after allegedly urging investors, through a PR firm, to reject a settlement offer.
The Australian Securities and Investments Commission has released details of its allegations against embattled property developer Sasha Hopkins, who is the subject of several freezing orders won by the regulator earlier this month.
Melbourne-based hard assets investment manager Merricks Capital has filed court proceedings to block its ex-managing director and two other former employees from working at a investment boutique run by financial commentator Peter Switzer and his son Marty.
The Australian Securities and Investments Commission has sued Queensland-based Sunshine Loans for allegedly charging over $320,000 in prohibited fees.