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A judge has approved $32 million in penalties against Westpac in two cases brought by the corporate regulator accusing the bank of misleading thousands of “vulnerable” customers about their debts and failing to manage the accounts of deregistered companies.
IOOF unit RI Advice has agreed to settle novel proceedings brought by the Australian Securities and Investments Commission claiming it failed to protect its clients against cybersecurity risks.
In yet another blow for the embattled wealth manager, the Australian Securities and Investments Commission has suspended Dixon Advisory's financial services licence.
Almost half of the $3 million in legal costs incurred by former Tennis Australia president Steven Healy in successfully defending against the regulator's case over the broadcast rights to the Open were for "luxuries of litigation" that he should pay for himself, ASIC has told a court.
The parents of Sydney fraudster Melissa Caddick have staked their claim over her $2.6 million Edgecliff home, which they say they have lived in since 2017 according to a binding agreement with their daughter.
Another auditor has landed in hot water over collapsed video company Big Un’s 2017 independent audit, with the lead accountant charged with making a false or misleading statement.
A judge has signed off on a $20 million penalty against Westpac subsidiary BT Funds Management for improperly charging 9,000 members insurance premiums that included commissions to financial advisers, a practice that was banned in 2013.
Coal mining firm TerraCom has taken its bid to shield a PricewaterhouseCoopers report from ASIC to the Full Court, appealing a judgment which found the regulator could view the report because of public statements made by the company.
A judge has hit Westpac with a $1.5 million penalty for misleading 141 customers into believing they had purchased add-on insurance.
The corporate regulator has filed court proceedings against Macquarie Bank alleging it failed to monitor third-party withdrawals, leading to a financial adviser's theft of $2.9 million in customer funds.