Two financial advisers who allegedly recommended a failed fund linked to Keystone Asset Management have been disqualified by the corporate cop.
The corporate regulator has appealed a Federal Court decision that rejected part of its case against HCF Life Insurance over a pre-existing condition term in its policies that was found to be misleading but not unfair.
A judge has said ASIC should have known that its case against four TerraCom directors over statements made to investors had no prospects of success, calling one of its submissions “unworthy of the corporations regulator”.
A judge has said an 11-day trial in ASIC’s case against Solve My Debt Now will go ahead in December despite a third set of solicitors ceasing to act and no sign that the debt management firm will put on evidence.
The corporate regulator says defunct forex broker Union Standard and its agents should be hit with $300 million in penalties for their tactics in pressuring customers to trade in risky financial products.
The corporate regulator has secured travel restrictions and freezing orders against two directors of Falcon Capital as part of its investigation into its managed investment fund.
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.