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The Australian Securities and Investments Commission has warned superannuation funds they face criminal penalties if they try to win over employers with tickets to sporting events or other gifts.
Lawyers for former Vocation CEO Mark Hutchinson say the corporate regulator is “plucking numbers out of the air” in its bid to secure disqualifications of up to eight years against the former executives who breached their directors’ duties in relation to the collapsed education provider.
Australian coal miner Moreton Resources has won a Full Federal Court appeal over tax offsets it claims are owed over a failed pilot project testing underground coal gasification, a process which was ultimately banned in Queensland.
A judge has rejected a proposed common fund order in the settled KPMG class action, saying the funder's commission was "arguably excessive" and could result in a "stratospheric" return to the firm.
A six-week trial set to start in October in the cartel case against mobility equipment provider Country Care Group has been vacated and rescheduled to next year, as the judge overseeing the case quipped that he was either the "canary or the guinea pig" in the landmark criminal proceeding.
Customers of mortgage lending and investment firm RMBL say they were “shocked” when the company’s chief financial officer allegedly called them to say “he hoped” they would opt out of an excessive fees class action that had been filed against the firm.
Construction group Icon Co has dragged insurers Liberty Mutual Insurance and QBE Underwriting to court for allegedly refusing to provide coverage after the Opal Tower disaster in December last year, which led to thousands of residents being evacuated.
The Federal Government will introduce legislation Thursday that would ban the grandfathering of conflicted remuneration for financial advisors, after the banking royal commission suggested scrapping the practice.
A class action has been filed against a NSW state government-controlled entity over Sydney’s scandal-plagued Opal Tower, in a claim that is expected to seek millions of dollars of compensation on behalf of hundreds of apartment owners.
Ex-Tennis Australia director Harold Mitchell, facing enforcement action by ASIC alleging he breached his duties in awarding Australian Open broadcast rights to the Seven Network, has asked a court for all evidence the regulator obtained from former board member Graeme Holloway, who died in February.