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Facing an ASIC enforcement action over alleged breaches of Australian credit laws, payday lenders BHF Solutions and Cigno claim they did not need a licence to issue loans to hundreds of thousands of consumers.
Funeral insurer ACBF Funeral Plans and parent company Youpla Group are facing legal action from the corporate regulator alleging they breached financial service laws by making false claims in a funeral insurance policy sold primarily to Aboriginal consumers.
A former general manager of Sigma Healthcare is facing up to twenty years in prison after being charged with two counts of insider trading.
A judge has set aside the pleadings in ASIC's case accusing a Worrells liquidator of aiding and abetting the illegal phoenix activity of collapsed Queensland property investment advisor Members Alliance Group, saying he is entitled to a "coherent pleading".
Australian Securities and Investments Commission deputy chair Daniel Crennan has quit his post after questions emerged over $70,000 in rental assistance payments to the regulator's enforcement head.
The Commonwealth Bank of Australia has been fined $150,000 after a Federal Court judge found the bank had breached the law by increasing a problem gambler's credit card limit but that the conduct was "not systematic, deliberate or covert".
An offer by billionaire Clive Palmer to pay $21 million for all remaining shares in villas at the Palmer Coolum Resort in Queensland and drop 14 lawsuits over resort ownership has been rejected by villa owners.
ASIC chairman James Shipton has temporarily stepped aside pending an independent review of $118,000 in payments made to the regulatory head linked to his relocation from the US in 2018.
James Mawhinney, director of the besieged Mayfair Group, has lost his bid to slow down two proceedings filed by ASIC which he claims will have a "catastrophic" effect on his business, staff and investors.
The Australian unit of French investment bank Société Générale must pay a $30,000 penalty after pleading guilty to four counts of breaching client money handling rules.