A judge has ordered Australian Unity to pay a $7.1 million penalty in ASIC proceedings alleging it pumped more than $9.5 million into a risky mortgage scheme without properly vetting investors.
Fresh off being sued by ASIC for investing $300 million into Falcon Capital’s failed First Guardian Master Fund, super trustee Diversa has been hit with additional licence conditions by the prudential regulator.
A judge has allowed a shareholder class action over the collapse of asset manager Blue Sky to bring insider trading claims against several short sellers, as well as brokers Credit Suisse and Argonaut Securities.
A judge has ordered ANZ to pay $250 million in penalties in four cases by ASIC – $10 million more than the bank had agreed to pay – saying ANZ had “substantially deceived” the government by overstating bond trading volumes.
A WiseTech investigation into billionaire chair Richard White has found no evidence that he misused company funds in his personal relationships with two women, including to pay for an employee’s plastic surgery.
A shareholder of gold and lithium exploration company TG metals has won its bid to inspect the company’s books over concerns about two capital raisings that occurred within six weeks of each other.
A SkyCity shareholder has lost his bid to bring a case against former executives and directors at the ASX-listed casino seeking to recoup a $67 million penalty over breaches of money laundering regulations.
A former principal at law firm BlackBay accused of taking confidential client information to launch a rival law firm has lost his bid to file a new defence, with a judge calling the new pleadings “confused”.
A judge has questioned whether an agreed penalty against ANZ for overstating bond trading volumes is sufficient, noting the misrepresentations were “very significant”.
The receiver for a Falcon Capital fund under investigation by ASIC wants a role in selling director Simon Selimaj’s valuable artwork, including a $70,000 Albert Tucker painting, which is allegedly needed to cover legal fees.