The Australian Securities and Investments Commission has opposed BlueScope Steel general manager Jason Ellis’ request for court permission to manage another company, saying he should wait until the ACCC’s price-fixing case against him has been decided.
Former Commonwealth Bank subsidiary Avanteos Investments Limited pleaded guilty on Wednesday to charging up to $700,000 in fees to hundreds of deceased superannuation fund members.
Former Linchpin Capital director Peter Eugene Daly has come up short in his second bid to stay his appeal of a ruling that banned him from providing financial services for five years in light of separate proceedings brought by ASIC.
A judge has said if he sides with a former ANZ trader in a privilege dispute with the bank over file notes from 2014 meetings over ASIC’s bank bill swap rate investigations it would create a “whole world of pain” for solicitors claiming privilege over their notes in other cases.
A senior ACCC officer tried to dissuade ASIC from investigating alleged insider trading by JPMorgan because of fears it would “upset” the competition regulator’s criminal cartel case over a $2.5 billion ANZ share placement, a court has heard.
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.
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.
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.
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.