ASIC has launched civil penalty proceedings against Statewide Super alleging that around 12,500 fund members were not covered by any insurance policy for a year despite the super fund informing them that they had cover while deducting monthly premiums worth $1.5 million.
Fintech company iSignthis has struck back at allegations by the Australian Securities and Investments Commission that it breached its continuous disclosure obligations by failing to inform shareholders that Visa was ending its relationship, saying the disclosure would not have affected its share price.
The Full Federal Court has been asked to consider an appeal of a judge’s ruling backing the position of the Commissioner of Patents that two patents for a computer-implemented invention did not describe a manner of manufacture and should be revoked.
Crying poor during COVID-19, Viagogo has won a temporary stay of a $7 million penalty imposed by a court that found the ticket reseller misled customers on an “industrial scale”.
Carlton United Breweries has appealed a ruling ordering it to hand over almost 1,500 documents to the Commissioner of Taxation relating to an audit of the beer giant.
The Australian Securities and Investments Commission has brought court action against Retail Employees Superannuation, alleging the super trustee may have misled members about their ability to move their super out of the REST Trust.
Construction company Clough Limited cannot claim over $15 million paid to employees for cancellation of their shares and options as a tax deduction, with a judge dismissing the Perth-based company’s appeal of a decision from the Commissioner of Taxation.
A court has found national delivery company Megasave Couriers misled franchisees with false promises of guaranteed minimum weekly payments and annual income.
A financial adviser at the centre of ASIC’s bad advice case against an IOOF unit might mount an argument that a fair trial is not possible because of his “fulsome” answers to investigators during a compulsory examination.
ASIC has launched court action against two Commonwealth Bank of Australia subsidiaries that have admitted multiple “systemic compliance failures”, including the overcharging of more than $4.3 million in brokerage fees.