Fintech company Block Earner has been hit with enforcement action by the corporate regulator alleging it sold crypto asset products without a licence and operated an unregistered managed investment scheme.
ASIC is seeking $7.5 million in penalties against failed ACBF Funeral Plans and parent company Youpla Group for misrepresenting to customers that it was Indigenous-owned and falsely claiming that its products were specifically beneficial to First Nations people.
The High Court has turned down the appeal of the former Blue Star Helium CEO who was hit with a $40,000 penalty and four-year ban after the company failed to disclose to shareholders the identity of the buyer behind a botched sale of Texas oil assets.
Former CEO of failed van Eyk Research has been sentenced to 15 months’ imprisonment after admitting he breached his duties as director of a subsidiary to dishonestly retain control of the company.
A judge has thrown out proceedings brought by mining magnate Clive Palmer in which he alleged an abuse of process by prosecutors and the Australian Securities and Investments Commission, finding that Palmer’s suits were themselves a “misuse of proceedings.”
A former Tesla Motors Australia director has pleaded guilty to two counts of insider trading for acquiring shares in Piedmont Lithium based on insider information he had about an in-principle agreement the mining company had to supply lithium to Tesla.
The former director of investment management fund Courtenay House has pleaded guilty to five criminal charges after an ASIC investigation revealed he duped 585 investors in a $180 million Ponzi scheme.
A court has found National Australia Bank engaged in unconscionable conduct in knowingly overcharging thousands of customers periodic payment fees for four years.
The outgoing deputy chair for the Australian Competition and Consumer Commission says Australia “really needs” a new unfair practices law, echoing sentiments from the regulator’s former boss.
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.