ASIC

ASIC has secured an interim injunction against financial adviser Ferras Merhi, whose network of advisers is accused of leading thousands of clients to invest $526 million into two failed funds.

ASIC wants an injunction against a financial adviser whose "honey pot" marketing allegedly led to 6,000 clients pumping over $520 million into the collapsed Shield and First Guardian funds. 

A second MWL Financial adviser has been banned this week by the corporate regulator as part of its probe into the costly collapse of Keystone's failed Shield Master Fund.

The administrators of struggling regional airline Rex have entered into a sale agreement with NASDAQ-listed aviation holding company Air T, with the federal government stepping in to facilitate the sale.

A judge has raised concerns about whether an agreed-to $20 million penalty against Westpac's defunct home loan subsidiary RAMS is enough to deter other lenders from breaking credit rules.

The corporate regulator has banned a MWL Financial adviser for eight years for recommending clients park the bulk of their superannuation into Keystone's high-risk Shield Master Fund, which has since collapsed.

The court will not get a chance to rule on the design and distribution obligations in the marketing of contracts for difference, after the Australian Securities and Investments Commission reached an agreement with eToro to resolve the first case of its kind. 

A judge has refused to join the ATO as an interested party to a case over the receivership of investment platform Brite Advisors, after the receivers worried they could be on the hook for $75.4 million in capital gains tax. 

A court has tossed the corporate regulator's case against Freedom Insurance's former boss and another executive, finding that a sales incentives scheme did not breach conflicted remuneration laws.

ASIC has secured winding up orders against Gold Coas- based ALAMMC Developments and a number of related companies amid concerns the property developer mismanaged millions of investors funds.