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The Australian Securities and Investments Commission is targeting predatory lending, greenwashing and crypto-assets as rising interest rates cause consumers to turn to fringe sources of credit.
ASIC’s greenwashing crackdown means no more ‘purely aspirational’ targets
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The Australian Securities and Investments Commission has drawn “a line in the sand” on greenwashing and will no longer accept “purely aspirational” climate change targets from companies, the regulator’s deputy chair has said.
ASIC boss sounds warning about ‘risky’ crypto-assets amid flurry of investigations
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The chair of the Australian Securities and Investments Commission has warned consumers about investing in “risky, speciality, poorly understood” crypto-assets, as the regulator steps up its investigations into managed funds acting in the space.
‘Flagrant abuse’: Lawyer hit with costs for disclosing settlement talks
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A lawyer has been hit with a personal costs order after filing “plainly prejudicial” documents with the court that caused the adjournment and re-listing of a five-day trial.
AUSTRAC to probe Sportsbet, Bet365 over money laundering concerns
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Sportsbet and Bet365 face an audit by AUSTRAC over their compliance with anti-money laundering and counter-terrorism financing laws.
iSignthis drops $464M lawsuit against ASX
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Fintech iSignthis has dropped a $464 million lawsuit brought against the Australian Stock Exchange three years ago over allegedly misleading conduct in relation to the suspension of the company’s shares.
Judge warns Domino’s about ‘trial by ambush’ as underpayments class action hearing kicks off
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A judge has slammed Domino’s for its “entirely unsatisfactory” opening submissions in an underpayments class action, warning the pizza giant not to hide arguments and evidence up its sleeve.
‘Not a suburban golf club’: Judge slams delays in Blue Sky class action
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A judge has criticised the applicant in a class action against failed asset manager Blue Sky Alternative Investments for filing court documents late, as he prepares to grapple with an imminent competing class action.
Major win for Lendlease, Multiplex in $68M case by Hastie liquidators
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Lendlease and other major builders have secured a significant victory in a long-running case brought by the liquidators of failed engineering company Hastie Group, with a judge saying Hastie wasn’t entitled to the proceeds of bank guarantees withdrawn by the builders when it collapsed 10 years ago.
Wilson Security hit with second wage class action, this one run by lawyers
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A law firm has filed a class action against Wilson Security on behalf of employees who claim to have been underpaid, just weeks after a court shut down a group proceeding against the company brought by a self-represented worker.