ASIC

The Full Court has rejected ASIC's appeal of a ruling that fintech Finder did not need a financial services licence to sell its defunct cryptocurrency product, saying the product did not involve a debt for money. 

The Australian Securities and Investments Commission is taking a third swing at cyber enforcement proceedings, suing financial planner Fortnum Private Wealth after a breach saw the data of 9,000 clients published to the dark web. 

Ord Minnett has resolved a suit by a former exec claiming he was sacked for complaining about a $110,000 pay cut imposed after ASIC slapped the wealth management firm with a $880,000 penalty for breaching market integrity rules.

Companies in the steel empire of billionaire Sanjeev Gupta have been ordered to lodge outstanding annual financial reports after the corporate regulator brought court action.

ASIC has won travel bans against two people who are being investigated over their links to Keystone and Falcon Capital funds, which are suspected of misusing investor money, after the regulator claimed losses could be “catastrophic”. 

A former director of three construction companies that collapsed with debts of almost $94 million has been banned by the corporate watchdog from managing corporations for five years.

ASIC has opposed a bid by online investment platform eToro to rely on late expert evidence in the regulator’s first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.

The former chairman of BBY has been charged with aiding and abetting dishonest conduct while head of the board at the defunct stockbroking firm.

A former director of collapsed Melbourne derivatives broker Berndale Capital Securities will spend a year in jail after pleading guilty to offences connected to his misuse of company funds.

Administrator appointments for construction companies leaped 20 per cent in the latest financial year, according to data released by the corporate regulator.