Australian Securities and Investments Commission chair Joe Longo will hang up his badge after his term as head of the corporate cop ends in eight months.
ASIC has confirmed it is investigating at least one ratings house which said Keystone’s failed Shield Master Fund was of ‘investment grade’, as the corporate watchdog seeks to claw back $480 million in investor funds.
ASIC’s chair was grilled by members of parliament on Thursday over whether the regulator would take action against individuals within ANZ, after the bank agreed to pay $240 million in penalties for “widespread misconduct”.
Products offered by La Trobe Financial Asset Management are the subject of interim stop orders by the corporate regulator, which claims the investment schemes are unsuitable for everyday investors.
ANZ has agreed to pay $240 million in penalties to resolve four separate cases by the corporate regulator, including a record $80 million penalty for unconscionable conduct in its dealings with the federal government.
A former head of trading technology at the ASX has filed a lawsuit claiming he was axed after he raised concerns about insufficient resources to operate the market properly, including in relation to the exchange’s CHESS replacement project.
The Finance Sector Union has accused ANZ of being a “bank in crisis”, launching a case in the Fair Work Commission over its handling of mass job cuts.
A Melbourne man has been sentenced to 18 months imprisonment after pleading guilty to trading while in possession of inside information in advance of Westfarmers’ $776 million acquisition of lithium company Kidman Resources in 2019.
A judge has ordered Facebook owner Meta to file its defence in the Australian Competition and Consumer Commission’s three-year-old case over scam cryptocurrency ads on the social media platform.
ASIC is trying again to strike out mining magnate Clive Palmer’s case over examinations conducted by the corporate regulator, after a judge found the case was sufficiently clear.