ASIC

A judge has questioned whether Macquarie Financial should get 70 per cent of an interim $102 million distribution to people who sank their retirement savings into Keystone’s Shield Master Fund, which is being investigated for misuse of investor funds.

Defunct forex broker Union Standard and its former agents have been hit with a combined $300.2 million penalty for “egregious” contraventions, including deliberately pushing risky derivative contracts onto inexperienced investors.

Lendlease has dropped KPMG as its auditor, after it was revealed under parliamentary privilege that the firm misused the developer's confidential client data. 

Insurer QBE has admitted liability in ASIC’s case alleging it made empty promises to over half a million customers on policy discounts, but a dispute over the size of the penalty remains.

Partners from Allens and Ashurst and senior executives at Lendlease are among those appearing at next week's parliamentary committee inquiry into KPMG's misuse of client data.

Clive Palmer's resort company Palmer Leisure Coolum has entered a guilty plea to one count of breaching takeover law arising from the proposed acquisition of The President’s Club.

ASIC has told a senate estimates committee that it is now formally investigating KPMG in the wake of allegations the firm misused client data. 

Clive Palmer's resort company Palmer Leisure Coolum has entered a guilty plea to one count of breaching takeover law arising from the proposed acquisition of The President’s Club.

A judge overseeing ASIC’s case against the ASX over its CHESS replacement plan will allow remote evidence by the US-based director of a New York tech company, who allegedly gave the exchange an assurance about the project's timeline.

The Supreme Court of Victoria has agreed to transfer a case against the former CEO of ASX-listed software company Dubber and its solicitor to the Federal Court, to be heard alongside a case against auditor BDO and civil penalty proceedings by ASIC.