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ASIC seeks $30M penalty for Westpac’s ‘scandalous’ conduct
Financial Services 2025-05-26 11:17 pm By Andy Sidler

ASIC has asked a court to hit Westpac with a $30 million penalty for IT failures which caused  financial hardship applications to be ignored, conduct a judge has described as “shocking” and “truly scandalous”.

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Judge scolds HSBC for missing deadline to file defence in ASIC scam case
Financial Services 2025-05-26 11:37 pm By Julia Kanapathippillai

A Federal Court judge has criticised HSBC for failing to comply with court orders in the corporate cop’s case alleging the bank failed to protect customers from scams. 

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Freezing orders extended against people with suspected links to Keystone
ASIC 2025-05-26 11:25 pm By Andy Sidler

A court has extended freezing orders over the assets of two men suspected of connections to two Keystone funds, which ASIC has expressed “grave concerns” about.

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Moderna loses bid to patent mRNA vaccine
Intellectual Property 2025-05-26 11:02 am By Cat Fredenburgh

Moderna has failed in its bid to secure an mRNA vaccine patent, but an IP Australia delegate gave the US biotech another shot at its application. 

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ASIC hits Kalkine with new licence conditions over customer service advice
Financial Services 2025-05-23 1:19 pm By Christine Caulfield

The corporate watchdog has imposed extra conditions on Kalkine’s financial services licence amid concerns customer service representatives were providing unlicensed advice.

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ASIC accuses Snaffle of hefty price markups, excessive interest charges
Retail 2025-05-22 1:36 pm By Julia Kanapathippillai

Australia’s corporate watchdog has taken Snaffle to court, alleging the online retailer inflated prices and charged excessive interest under credit contracts.

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IAG’s $855M acquisition of RACQ Insurance cleared by ACCC
M&A 2025-05-22 12:44 pm By Christine Caulfield

The Australian Competition and Consumer Commission will not oppose IAG’s acquisition of RACQI, saying more established insurers will still be able to compete in Queensland.

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Bedshed cops $40K in penalties for alleged misleading NDIS claims
Competition & Consumer Protection 2025-05-21 11:16 pm By Julia Kanapathippillai

Bedding and mattress retailer Bedshed has paid nearly $40,000 in penalties after the Australian Competition and Consumer issued it with two infringement notices over advertising that claimed its products were approved by the National Disability insurance Scheme.

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ASIC takes crypto case against Block Earner to High Court
Cryptocurrency 2025-05-20 2:57 pm By Christine Caulfield

ASIC has asked the High Court to overturn a judgment in favour of cryptocurrency firm Block Earner, saying the decision would allow future products to escape regulation.

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ASIC takes Resimac to court for ‘one size fits all’ approach to hardship claims
Financial Services 2025-05-21 12:53 pm By Christine Caulfield

New enforcement action by the corporate regulator accuses home loan manager Resimac of letting down thousands of financially struggling customers who filed hardship applications.

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