The Full Court has rejected ASIC’s appeal of a ruling that fintech Finder did not need a financial services licence to sell its defunct cryptocurrency product, saying the product did not involve a debt for money.
The Australian Securities and Investments Commission is taking a third swing at cyber enforcement proceedings, suing financial planner Fortnum Private Wealth after a breach saw the data of 9,000 clients published to the dark web.
Ord Minnett has resolved a suit by a former exec claiming he was sacked for complaining about a $110,000 pay cut imposed after ASIC slapped the wealth management firm with a $880,000 penalty for breaching market integrity rules.
Companies in the steel empire of billionaire Sanjeev Gupta have been ordered to lodge outstanding annual financial reports after the corporate regulator brought court action.
Glencore Coal has lost its case against the Port of Newcastle alleging it has been overcharged shipping fees based on a determination by the competition watchdog.
The Finance Sector Union has taken Commonwealth Bank to the Fair Work Commission over the alleged “sham redundancy” of over 100 positions it says are being offshored to India in breach of an enterprise agreement.
The ACCC is concerned Acciona’s proposed acquisition of the East Rockingham waste-to-energy project would remove competition between the only two such facilities in Western Australia.
ASIC has won travel bans against two people who are being investigated over their links to Keystone and Falcon Capital funds, which are suspected of misusing investor money, after the regulator claimed losses could be “catastrophic”.
A former director of three construction companies that collapsed with debts of almost $94 million has been banned by the corporate watchdog from managing corporations for five years.
The ACCC will not oppose the Omnicom Group’s planned $21 billion acquisition of The Interpublic Group of Companies, with the regulator finding the transaction was not likely to substantially lessen competition.