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The former CEO of the company behind coconut water brand CoCo Joy has succeeded in overturning one of three criminal convictions following an ASIC investigation.
Nuix has lost its appeal of a ruling that found it must pay $20 million in legal costs before its insurers must cover its bills for defending multiple class actions and an ASIC case over its $1.8 billion float.
A judge has hit ASX Limited with a $20.5 million penalty after it admitted that a February 2022 statement to the market that its CHESS replacement project was “progressing well” was misleading.
ASIC may reconsider its approach to claims against non-executive directors after failing to prove that three NEDs of Rex had actual knowledge that the failed budget airline did not have a reasonable basis for a rosy profit forecast, experts told Lawyerly.
A Treasury report has suggested splitting audit functions off from multidisciplinary professional services firms, following whistleblower claims that KPMG leaked confidential client information.
ASX Limited has told a judge it did not intend to mislead shareholders when it told the market that its CHESS replacement project was “progressing well” and that a $20.5 million penalty was sufficient to achieve deterrence.
ASIC has won its case alleging Regional Express failed to correct an optimistic forecast before it entered administration last year, but failed to prove the company's optimism conveyed a "likelihood" or that three non-executive directors had actual knowledge of the collapsed budget airline's declining business.
In a new report, ASIC warns Australia risks losing ground to overseas competitors unless it provides more clarity on technologies like tokenised assets and AI, which the regulator said could shake up longstanding assumptions about intent and misconduct.
The corporate cop will not take enforcement action against consumer lender Humm Group or its subsidiaries, following investigations into the companies' reporting processes and contract terms.
A judge has found that ASIC's case against WA gold mining company Wiluna over alleged omissions in a 2022 ASX announcement should await the determination of related cases against two executives, citing the risk of inconsistent findings.