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ASIC’s appeal in case against Auto & General rejected as ‘inherently contradictory’
Insurance 2025-06-06 11:50 pm By Julia Kanapathippillai

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.

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Meta not ‘innocent bystander’, says ACCC in fight to keep crypto ad case alive
Competition & Consumer Protection 2025-06-04 11:50 pm By Cindy Cameronne

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…

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Westpac’s RAMS taken to court over ‘widespread’ misconduct across franchise network
ASIC 2025-06-04 12:49 pm By Julia Kanapathippillai

Westpac’s mortgage subsidiary RAMS Financial Group faces penalty proceedings by the corporate regulator after admitting to “widespread” misconduct.

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HSBC manager found bank had ‘no understanding’ of liability under ePayments Code, court told
Financial Services 2025-06-04 11:03 pm By Sam Matthews

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.

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Choosi misled customers with insurance comparison service, ASIC claims
Competition & Consumer Protection 2025-06-03 11:38 pm By Julia Kanapathippillai

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.

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Penalty in ASIC case against TerraCom to wait until directors’ hearing
ASIC 2025-06-02 10:48 pm By Julia Kanapathippillai

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. 

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In ASIC win, Full Court says Qoin issuer not exempt under authorised rep rules
Financial Services 2025-05-30 3:26 pm By Sam Matthews

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.

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‘No excuse’: ASIC slams poor practices by managed investment funds holding $1T
Financial Services 2025-06-02 11:35 pm By Julia Kanapathippillai

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.

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ASIC launches suit against missing ex-Blockchain Global director
Cryptocurrency 2025-05-28 11:55 pm By Andy Sidler

The corporate watchdog has brought proceedings against the former director of collapsed cryptocurrency exchange platform Blockchain Global for alleged violations of his directors duties. 

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TerraCom to pay $7.5M to settle ASIC’s whistleblower suit
ASIC 2025-05-27 11:56 pm By Cat Fredenburgh

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. 

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