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Banking giant Westpac has admitted to allegations in six new cases by the Australian Securities and Investments Commission alleging widespread compliance failures across multiple businesses, and will agree to pay a combined $100 million penalty.
Specialist workplace relations consultancy Employsure has been ordered to pay a $1 million penalty over a series of misleading Google advertisements, a figure significantly lower than the $5 million sought by the Australian Competition and Consumer Commission.
The former director of investment management fund Courtenay House is facing a slew of criminal charges after an investigation by the Australian Securities and Investments Commission allegedly revealed he duped 590 investors in a $196 million Ponzi scheme.
Apple and Google's legal woes in Australia are set to worsen, with a leading class action firm preparing to file class actions against the Silicon Valley giants for alleged competition and consumer law violations.
La Trobe Financial Asset Management will pay just $750,000 for misleading investors in its 48 hour and 90 day notice accounts over a period of more than three years, with a judge saying the company would have faced a penalty "well in excess" of this amount if not for reassuring correspondence from ASIC during its investigation.
The Australian Competition and Consumer Commission has appointed an esteemed Herbert Smith Freehills competition partner who defeated some of the regulator's most high-profile merger challenges to be a commissioner.
Money transfer business Vina Money Transfer and two of five individuals accused of fixing foreign exchange rates on millions of dollars transferred between Australia and Vietnam will plead guilty to criminal cartel charges, a court has heard.
A judge has dressed down ASIC over the handling of its action against GetSwift, criticising the regulator's failure to seek a court injunction to prevent the company's relocation to Canada.
The Australian Securities and Investments Commission has launched court proceedings against ANZ alleging the banking giant's home loan 'introducer' referral program breached credit laws.
The parents of accused Sydney fraudster Melissa Caddick may need to bring court proceedings to retain their $2.6 million Edgecliff home and recoup $1.2 million they gave to their daughter for the mortgage.