Most Recent
A judge has hit ASX Limited with a $20.5 million penalty after it admitted that a February 2022 statement to the market that its CHESS replacement project was “progressing well” was misleading.
Tax advisors will face tougher penalties for misconduct under new federal legislation introduced in response to the PwC tax leaks scandal and recommendations from a Tax Practitioners Board review.
ASIC may reconsider its approach to claims against non-executive directors after failing to prove that three NEDs of Rex had actual knowledge that the failed budget airline did not have a reasonable basis for a rosy profit forecast, experts told Lawyerly.
Pauls Milk producer Lactalis has copped a penalty after the consumer regulator issued infringement notices for alleged misleading representations about the freshness of two of its products.
A Treasury report has suggested splitting audit functions off from multidisciplinary professional services firms, following whistleblower claims that KPMG leaked confidential client information.
ASX Limited has told a judge it did not intend to mislead shareholders when it told the market that its CHESS replacement project was “progressing well” and that a $20.5 million penalty was sufficient to achieve deterrence.
The competition regulator has opposed Coles Group's proposed acquisition of a leasehold interest in a Kalgoorlie supermarket and liquor store site, finding it would substantially lessen competition in the retail supply of groceries in the region.
ASIC has won its case alleging Regional Express failed to correct an optimistic forecast before it entered administration last year, but failed to prove the company's optimism conveyed a "likelihood" or that three non-executive directors had actual knowledge of the collapsed budget airline's declining business.
The consumer regulator has brought proceedings against Amazon, alleging it relied on unfair contract terms in its Prime Video subscription contracts to introduce advertising to its streaming service.
In a new report, ASIC warns Australia risks losing ground to overseas competitors unless it provides more clarity on technologies like tokenised assets and AI, which the regulator said could shake up longstanding assumptions about intent and misconduct.