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Dixon Advisory files for administration, blaming class actions
Restructuring & Insolvency 2022-01-19 10:40 am By Cat Fredenburgh

Embattled wealth advisor Dixon Advisory has filed for administration, saying its potential liability in two class actions and a $7.2 million penalty agreed to in […]

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Statewide Super fined $4M for charging members for non-existent insurance
Financial Services 2022-01-07 10:15 pm By Bianca Hrovat

Superannuation provider Statewide Super has been ordered to pay a $4 million penalty for an administrative error that saw around 12,500 fund members charged for […]

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Judge shoots down ‘audacious’ McMillan Shakespeare claim for surplus class action funds
Class Actions 2021-12-22 5:17 pm By Miklos Bolza

A judge has rejected an “audacious” attempt by McMillan Shakespeare to recoup a surplus of funds left over after a $9.5 million class action settlement […]

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Mayfair slapped with $30M fine after judge finds ASIC penalty ‘insufficient’
Financial Services 2021-12-22 10:10 am By Miklos Bolza

Beleaguered investment group Mayfair 101 will have to pay a $30 million penalty after a judge found a $12 million penalty proposed by ASIC was […]

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Judge criticises ASIC for treating orders in Westpac case like ‘traffic lights in Naples’
Financial Services 2021-12-20 1:48 pm By Bianca Hrovat

A judge has criticised the Australian Securities and Investments Commission for treating timetabling orders in its insider trading case against Westpac over a $16 billion […]

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Ralan boss to face public grilling by construction group’s liquidators
Restructuring & Insolvency 2021-12-20 2:31 pm By Miklos Bolza

The founder of construction giant Ralan Group will face public examination in the Federal Court as liquidators continue their investigations into the company’s $561 million […]

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Ex-Antares Energy CEO banned for misleading market about $354M Texas oil sale
Securities 2021-12-17 6:20 pm By Miklos Bolza

The former CEO and chairman of Antares Energy has been banned from managing corporations for four years and hit with a $40,000 penalty for failing […]

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ASIC accuses former ANZ unit of overcharging super members $4M
Financial Services 2021-12-15 12:26 pm By Bianca Hrovat

Former ANZ super fund subsidiary OnePath overcharged more than $4 million in superannuation fees, according to regulatory action launched by the Australian Securities and Investments […]

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ASIC takes ‘wolf’ trader Tyson Scholz to court
Financial Services 2021-12-13 4:53 pm By Bianca Hrovat

The Australian Securities and Investments Commission has launched court proceedings against the self-proclaimed ‘wolf’ of the ASX, social media celebrity Tyson Scholz for allegedly providing […]

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ANZ to pay $25M for short-changing half a million customers
Financial Services 2021-12-09 3:29 pm By Bianca Hrovat

The Australia and New Zealand Banking Group has agreed to pay a $25 million penalty to resolve proceedings by the Australian Securities and Investments Commission […]

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