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The corporate cop has asked a judge to hit the former CEO of collapsed budget airline Rex with an agreed $800,000 penalty for continuous disclosure breaches.
Financial planner Fortnum Private Wealth has been hit with a $1.35 million penalty after admitting it failed to implement adequate cyber security systems, after a breach led to the data of 9,000 customers being published on the dark web.
Construction PRO
The Australian Securities and Investments Commission has called for improvements in how mortgage brokers demonstrate that home loan recommendations are in customers’ best interests.
Former Star Entertainment's boss has been granted an exemption to a six-year corporate ban, with a court allowing him to direct a self-managed super fund.
Insurer Holland has been hit with a $2 million penalty over claim delays which ASIC argued warranted a $30 million penalty, the first civil penalty against an insurer for breaching its duty of good faith.
The Australian Securities and Investments Commission has launched enforcement action against an Interprac authorised representative who allegedly promoted the failed First Guardian investment fund to hundreds of clients.
Construction PRO
The corporate regulator has secured orders appointing receivers to a company behind a housing project on Lake Narracan in Victoria's LaTrobe Valley, after telling a court it was concerned more than 100 investors have been misled.
Interim stop orders against Remara's $40 million cash management fund have been removed after the private credit lender updated the fund's target market determinations.
The corporate regulator said Wednesday it would review the banking sector’s use of artificial intelligence to ensure customer protections have not been lost in the rush to adopt AI tools.
A court has slapped an injunction on Ryzon Materials to restrain it from a proposed capital reduction, citing concerns it could allow the company to avoid a potential penalty in a case by the corporate regulator.