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Meta loses strike-out bid in ACCC crypto ads case
Social Media 2025-09-05 11:09 am By Cindy Cameronne

Meta has lost its latest bid to strike out the consumer regulator’s case alleging it failed to put up “reasonable safeguards” to prevent scam cryptocurrency ads on its Facebook platform. 

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‘They will have their day in court’: Class action can’t intervene in ASIC suit against RAMS
Class Actions 2025-09-05 10:59 pm By Cat Fredenburgh

The lead applicant in a class action by former RAMS franchisees cannot intervene in civil penalty proceedings by ASIC against the defunct Westpac mortgage unit, with a judge finding the outcome of the ASIC case will not affect the class action. Justice Yaseen Shariff on Friday rejected class action applicant Top Ryde Financial Services’ bid…

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Jury convicts Perth businessman Chris Marco on 43 counts over $34M fraud
White Collar 2025-09-05 11:56 pm By Cat Fredenburgh

A jury has convicted Perth businessman Chris Marco of defrauding six investors out of $34 million, but acquitted his former executive assistant.

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ASIC gets High Court’s attention in case against crypto firm Block Earner
Cryptocurrency 2025-09-04 11:33 pm By Christine Caulfield

The corporate regulator has won the High Court’s leave to challenge a ruling for cryptocurrency firm Block Earner that it argues will allow future crypto products to evade the rules.

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CDPP drops charges against former Bruck Textile execs
Employment 2025-09-03 11:28 pm By Cat Fredenburgh

The CDPP has dropped charges accusing former executives of collapsed Bruck Textile Technologies of scheming their way out of making more than $3 million in redundancy payments, following an appellate ruling in their favour clarifying when it’s a crime to prevent the payout of employee wages. 

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‘Disgraceful’: Court hits Open4Sale directors with $2.8M penalties
Financial Services 2025-09-02 11:16 pm By Christine Caulfield

Open4Sale Global’s directors have been penalised $2.6 million for breaching disclosure laws in raising money from investors, who were labelled “a bunch of idiots” by the company’s boss.

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SocGen hit with $3.88M fine for market gatekeeper failures
Financial Services 2025-09-02 11:55 pm By Julia Kanapathippillai

French bank Societe Generale has been hit with a $3.88 million fine for allowing two clients to place suspicious orders on the electricity and wheat futures market, following an investigation by ASIC.

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ASIC cancels MWL Financial’s licence over Shield Master Fund investments
Financial Services 2025-08-28 11:12 pm By Cat Fredenburgh

The corporate cop has cancelled the financial services licence of MWL Financial and banned its director for 10 years for allegedly directing more than 750 clients to invest a combined $155 million into Keystone’s failed Shield Master Fund.

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Nuix must foot $20M in legal bills given ‘notorious’ costs of securities class actions: judge
Insurance 2025-08-27 11:31 pm By Cat Fredenburgh

Nuix is on the hook for $20 million before its insurers will cover its legal bills for suits over its $1.8 billion float, with a judge saying there was a good reason for the significant retention given the “notorious” expense of securities class actions.

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TerraCom hit with $7.5M penalty in ASIC whistleblower case
ASIC 2025-08-27 11:55 pm By Christine Caulfield

A judge has hit coal producer TerraCom with a $7.5 million penalty in ASIC proceedings alleging it made misleading statements to the market that damaged a whistleblower’s reputation. 

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