The corporate cop can revise its action against Gold Coast property developer ALAMMC to seek winding up orders after concerns have emerged about misuse of $70 million in investor funds.
Magnis Energy Technologies has missed the deadline to file its evidence in ASIC proceedings over allegedly misleading disclosures about its lithium ion battery plant, with a court hearing the company’s new lawyers have not had a chance to brief counsel.
The corporate regulator should not be immune from the risk of special costs for actions doomed to fail, says a judge who flayed ASIC last month for bringing a case against TerraCom directors it should have known was a dud.
Mercer Super faces enforcement action by ASIC, alleging the superannuation giant failed to inform the watchdog about investigations into serious issues, including a failure to refund premiums to dead members.
Online investment platform eToro has won its bid to rely on late expert evidence in ASIC’s first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.
A geological consultant has been sentenced to a suspended 12 months’ prison after pleading guilty to insider trading using information obtained through his work with Beacon Minerals.
National Australia Bank and its home loan lender subsidiary have been ordered to pay a $15.5 million penalty after admitting to mishandling hundreds of customer hardship applications.
Sydney investment manager Rodney Forrest has pleaded guilty to two counts of insider trading in relation to the trading of $2.6 million in shares of funds manager Platinum Asset Management while in position of inside information about a takeover offer.
The directors of payday lenders Cigno and BSF have filed for special leave to appeal a decision that found them liable for unlicensed credit activity, saying the case raises fundamental questions about the scope of accessorial liability.
A rental company providing long-term leases for household items has been slugged with a $7.4 million penalty after a court found its loan agreements did not comply with credit laws.