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Mercer Super agrees to pay $11.3M penalty in ASIC’s first greenwashing case
Financial Services 2023-12-07 1:46 pm By Sam Matthews

Mercer Superannuation has agreed to pay $11.3 million in a case the regulator said was “the first and we hope the last” greenwashing case of […]

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Noumi in talks with ASIC on penalty for continuous disclosure breaches
Securities 2023-12-01 1:38 pm By Cindy Cameronne

Food manufacturer Noumi is trying to reach agreement with the Australian Securities and Investments Commission on a penalty to propose to the court for violating […]

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RACQ to pay $10M for misleading customers about insurance discounts
Insurance 2023-11-30 6:27 pm By Cat Fredenburgh

RACQ Insurance has agreed to pay a $10 million penalty for misleading customers about their entitlements to discounts on certain insurance products. Between March 2017 […]

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Businesses to face steep penalties for failing to block scams
Policy and Regulation 2023-11-30 4:17 pm By Cat Fredenburgh

The Albanese Government has floated a new regulatory framework under which businesses would face steep penalties for failing to do their part to prevent scams. […]

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Ex-ANZ unit hit with $5M penalty for fees-for-no-service conduct
Superannuation 2023-11-29 4:40 pm By Cat Fredenburgh

Former ANZ superannuation trustee OnePath Custodians has been hit with a $5 million penalty for charging superannuation members more than $4 million in fees that […]

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Ex-BBY manager charged over $8.4M transfer of client funds before collapse
ASIC 2023-11-28 2:25 pm By Christine Caulfield

A former manager of stockbroking firm BBY Limited is the second senior employee to front court faced with criminal charges following the firm’s failure. Sydney-resident […]

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Investors lost $500M trading CFDs, new class action alleges
Financial Services 2023-11-27 11:04 am By Cat Fredenburgh

Sydney-based online broker International Capital Markets is facing a class action by inexperienced investors who allegedly lost $500 million in trading risky contracts for difference. Law […]

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Mercer Financial hit with $12M penalty for fees-for-no-service conduct
Financial Services 2023-11-23 3:13 pm By Sam Matthews

A judge has ordered wealth manager Mercer Financial Advice to pay a $12 million penalty for “extremely serious” fees-for-no-service conduct and breaches of its fee […]

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ASIC dodges indemnity costs for ‘unreasonable’ rejection of settlement in case against liquidator
Restructuring & Insolvency 2023-11-23 9:21 pm By Cat Fredenburgh

ASIC has escaped an individual insolvency practitioner’s bid for indemnity costs in its failed case alleging illegal phoenix activity, with a judge finding the regulator […]

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Nuix failed to disclose disappointing results after $1.8B float, court told
Trials 2023-11-20 9:25 pm By Sam Matthews

Nuix had information in January 2021 which undermined the growth story presented to the market in the prospectus for its IPO, a court has heard […]

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