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The former auditors of stockbroker Halifax Investment Services, whose 2008 collapse left around $200 million in client funds trapped, have been hit with $50,000 in fines for auditing breaches that resulted in the company continuing to trade while being prima facie insolvent.
Fintech software solutions company IOUPay has been granted relief from the court after issuing 20 million shares without lodging a cleansing notice with the Australian Securities Exchange.
A judge has refused to order Commonwealth Bank of Australia to publish notice of a $7 million penalty in a case brought by ASIC on its mobile app, but the bank will have to alert customers to its misconduct on its website and online newsroom.
Small business owners who turned to the Bank of Queensland for financial assistance were subject to unfair contract terms that created a "significant imbalance" in the rights of the bank and its customers, a court has held.
Westpac has released further details of its fraud claim against Bill Papas, founder of the Forum Group of Companies, painting a picture of an elaborate scheme to misappropriate $254 million to buy real estate, jewellery, luxury cars, racehorses and European football teams.
Controversial legislation advanced by the Morrison government that will weaken the country's continuous disclosure laws and make it harder to bring shareholder class actions has cleared the Senate.
Mining company TerraCom has asked a court to rule on the privilege status of a report by PriceWaterhouseCoopers, produced in reponse to "serious allegations" by a former employee over the falsification of coal quality results.
The former director of Sydney financial planning practice Hillross Bella Vista has been conditionally released without a conviction recorded after pleading guilty to falsifying documents uncovered during an investigation by the Australian Securities and Investments Commission.
Six of Australia's biggest financial services firms have paid or offered to pay a total of $1.86 billion to customers who were wrongly charged fees for no service or were given bad advice.
Food and beverage manufacturer Freedom Foods will call its CEO and ex-group chairman to the stand in a case filed by the firm's former group general counsel, who has dropped her lawyer and is now self-represented.