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AMP hit with $24M penalty for ‘unconscionable’ practice of charging dead customers
Financial Services 2023-05-19 12:16 pm By Christine Caulfield

A judge has ordered two AMP units to pay a total of $24 million after finding the wealth manager acted unconscionably in charging insurance premiums […]

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Personal assistant of alleged fraudster Chris Marco faces charges
White Collar 2023-05-19 4:13 pm By Christine Caulfield

A former executive assistant of accused Ponzi schemer Chris Marco is facing charges linked to an alleged $29.5 million fraud against investors. WA-based Linda Marissen […]

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MLC ordered to pay $10M penalty for ‘serious failure’
Insurance 2023-05-18 1:35 pm By Sam Matthews

A judge has ordered MLC to pay $10 million for its ā€œserious failureā€ to pay life insurance benefits to customers undergoing rehabilitation, in an ASIC […]

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ANZ to cop penalty in ASIC case over cash advance fees
Financial Services 2023-05-18 4:14 pm By Christine Caulfield

ANZ will no longer contest liability at trial in a case by the regulator over more than $10 million in cash advance fees charged to […]

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Linchpin class action concerned about ‘authenticity’ of evidence for trial
Restructuring & Insolvency 2023-05-17 1:33 pm By Cindy Cameronne

The applicant in an investor class action over the collapse of advisory firm Linchpin Capital and Endeavour Securities has raised concerns about the authenticity of […]

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ASIC investigates Nuix boss over $236,000 share purchase
ASIC 2023-05-17 4:02 pm By Cindy Cameronne

The Australian Securities and Investments Commission has launched an investigation into whether Nuixā€™s current Chief Executive Officer Jonathan Rubinsztein unlawfully bought shares in the company […]

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Court tosses conviction of Fly365 director, says case ‘doomed to fail’
Restructuring & Insolvency 2023-05-17 2:08 pm By Sam Matthews

A court has tossed a conviction secured in ASICā€™s case against a director of collapsed flight booking platform Fly365, saying the case was ā€œdoomed to […]

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ASIC claims Solvar unit provided unsuitable car loans to vulnerable customers
ASIC 2023-05-17 11:00 pm By Gareth Baker

The Australian Securities and Investments Commission has dragged lender Money3 to court for allegedly failing to properly assess the creditworthiness of low-income individuals before saddling […]

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Australian Mines ex-director hit with $70,000 penalty for conference representations
Energy & Natural Resources 2023-05-12 11:57 pm By Cat Fredenburgh

A former director of Australian Mines has copped at $70,000 penalty in ASIC proceedings accusing him of making false and misleading representations at mining investment […]

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Insurance Australia agrees to $40M penalty in ‘very serious’ case over unpaid discounts
Insurance 2023-05-11 4:57 pm By Cindy Cameronne

Insurance Australia has agreed to pay a $40 million penalty in a case by the Australian Securities and Investments Commission alleging it short-changed NRMA customers […]

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