An appeals court has dismissed the corporate regulator’s “logically inconsistent” appeal against a landmark decision that found insurer Auto & General did not include an unfair term in its contracts.
The ACCC is again trying to fend off a strike-out bid by Facebook owner Meta in its case over cryptocurrency ads, arguing Meta has built a system in which the misleading ads can flourish and is not an “innocent bystander”. The regulator lodged the case in March 2022, alleging it breached the Australian Consumer Law…
Westpac’s mortgage subsidiary RAMS Financial Group faces penalty proceedings by the corporate regulator after admitting to “widespread” misconduct.
ASIC has expanded its case alleging HSBC failed to protect customers from scams, revealing a compliance manager at the bank had found that teams tasked with monitoring unauthorised transactions “had no understanding” of the liability provisions in the ePayments Code.
Insurance comparison site Choosi has been taken to court by ASIC for allegedly misleading its users by almost exclusively comparing funeral and life insurance policies from one insurer.
Penalty proceedings in ASIC’s case against coal producer TerraCom have been put on ice until the regulator’s suit against the company’s directors goes to trial.
ASIC has succeeded in overturning a decision that found that Qoin issuer BPS Financial came within the authorised representative exemption with respect to agreements with Australian financial services licence holder PNI.
The corporate cop has found “widespread” compliance plan failures in the managed investment fund industry, and says it is investigating some fund managers for potential breaches.
The corporate watchdog has brought proceedings against the former director of collapsed cryptocurrency exchange platform Blockchain Global for alleged violations of his directors duties.
Coal producer TerraCom has agreed to pay $7.5 million to resolve ASIC proceedings alleging it made misleading statement to the market that damaged a whistleblower’s reputation.