ASIC

ASIC has filed action against Delta Electricity, owner of the Vales Point coal-fired power station in NSW, alleging “deliberate and calculated” manipulation in the market for electricity futures contracts. 

The corporate regulator has taken a provider of small loans to court after it allegedly monitored and removed funds from consumers’ bank accounts without their knowledge.

Former franchisees involved in a class action against RAMS are seeking to intervene in ASIC civil penalty proceedings against the defunct Westpac subsidiary.

The common practice of splitting hearings on questions of liability and penalty may become “completely untenable” when there are credit issues, if the High Court upholds a recent recusal decision, a judge has said.

The corporate regulator has brought action against three companies in Sanjeev Gupta's steel empire, alleging the businesses have defaulted on their obligations to lodge annual financial reports.

Companies in Sanjeev Gupta's steel empire, including the collapsed owner of Whyalla Steelworks, has been hit with action for allegedly failing to lodge annual reports with ASIC.

A judge has rejected bids by former Keystone director Paul Chiodo and developer Robert Filippini to stay a $150 million suit, citing investors' interests as a "powerful" factor weighing against the stay.

Property developers Paul Chiodo and Robert Filippini want to stay proceedings by Keystone's receivers over $150 million allegedly laundered through City Built's construction projects, citing "quite likely" criminal charges. 

HSBC has hit back at ASIC's claims that it failed to protect customers from scams, denying it breached its legislative duties despite admitting some of the regulator’s allegations concerning its compliance with the ePayments code, a voluntary code of conduct.