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Alleged Ponzi schemer Chris Marco charged with 50 fraud counts
White Collar 2022-07-20 9:27 am By Cindy Cameronne

Accused Ponzi schemer Chris Marco has been hit with criminal charges after an investigation by the Australian Securities and Investments Commission found he defrauded $36.5 […]

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ClearLoans settles ASIC’s first COVID-19 case against lender
Coronavirus 2022-07-18 4:35 pm By Cindy Cameronne

The sole director of personal lender ClearLoans has agreed to settle the first case the Australian Securities and Investments Commission brought related to the COVID-19 […]

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Online trader shut down following ASIC probe into ‘concerning consumer losses’
Financial Services 2022-07-14 9:58 pm By Sam Matthews

Online trading platform Trade360 will close shop at the end of the month, following an ASIC investigation that found its representatives at an offshore call […]

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Griffin Coal convicted of violating financial reporting obligations
Energy & Natural Resources 2022-07-13 11:12 pm By Sam Matthews

Embattled mining company Griffin Coal has copped a $4,000 fine after being convicted of failing to meet its financial reporting and officeholder requirements. The mining […]

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ASIC seeks $15M penalty against GetSwift after ‘unprecedented’ offshore move
Securities 2022-07-12 11:01 pm By Cindy Cameronne

ASIC has called for a $15 million penalty against GetSwift and 12-year bans against its directors, who moved the logistics company overseas as the regulator’s […]

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Life insurer Select AFSL used unconscionable phone sales tactics, court finds
Insurance 2022-07-11 2:25 pm By Cindy Cameronne

Insurer Select AFSL acted unconscionably when selling life, funeral and accidental injury insurance over the phone, a court has found in a case brought by […]

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ASIC hits $1 billion ‘licensee for hire’ firm with court proceedings
Financial Services 2022-07-07 1:13 pm By Cindy Cameronne

The Australian Securities and Investments Commission has filed civil penalty proceedings against advisory firm Lanterne Fund Services, alleging it ran a “wholly deficient business”. ASIC […]

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Judge approves $4.7M Quintis class action settlement
Class Actions 2022-07-01 10:37 pm By Cat Fredenburgh

A judge has signed off on a $4.7 million settlement in two investor class actions against collapsed sandalwood producer Quintis, two year after an earlier […]

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Liquidator reprimanded by ASIC for breaching rules on independence
Restructuring & Insolvency 2022-07-01 10:45 pm By Sam Matthews

The corporate regulator has reprimanded a liquidator for “serious” breaches of independence rules, and has directed the insolvency practitioner to refuse appointments until next year. […]

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ASIC sues Mercer Financial over fees for no service conduct
Financial Services 2022-06-30 12:10 pm By Sam Matthews

ASIC has brought court proceedings against wealth manager Mercer Financial Advice, alleging the company charged fees for services it did not provide and made false […]

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