Most Recent
Ex-Bellamy’s director Jan Cameron faces criminal charges over share disclosures
ASIC 2020-02-14 10:26 am By Christine Caulfield Melbourne
Former Bellamy's Australia director Jan Cameron has been charged by prosecutors after an ASIC investigation over her alleged failure to disclose her substantial stake in the organic baby food company.
ACCC officer denies anything ‘sinister’ in examination of ANZ cartel witness
ACCC 2020-02-12 9:17 pm By Miklos Bolza Sydney
During another day of cross-examination in a criminal cartel case against ANZ and two investment banks, a key ACCC officer was accused of lying about his interrogation of a key cartel witness, with the officer insisting there was nothing "sinister" in his examination.
Canadian trader seeks to revive $10M defamation case against ASIC
Appeals 2020-02-11 10:47 pm By Cat Fredenburgh Melbourne
A Canadian trader is appealing a ruling that threw out his $10 million defamation case against the Australian Securities and Investments Commission over allegedly defamatory communications the regulator sent to major stockbrokers.
Kleenmaid director gets 9 years in prison for $13M Westpac fraud
ASIC 2020-02-11 12:13 pm By Cat Fredenburgh
A judge has sentenced the founder of defunct whitegoods distributor Kleenmaid to nine years in prison for his role in a $13 million fraud against Westpac, saying it would be "obnoxious and naive" to consider his crimes victimless.
ACCC investigator shoots down claims of impropriety in ANZ cartel case
ACCC 2020-02-10 9:15 pm By Miklos Bolza Sydney
A key officer from the ACCC involved in interviewing JPMorgan bankers during a cartel investigation that led to criminal charges against ANZ and two investment banks has denied allegations that he acted improperly during the investigation.
ANZ wins fight for ASIC docs in cartel case, but battle might not be over
ACCC 2020-02-07 3:10 pm By Miklos Bolza Sydney
ANZ has won access to documents the bank claims are crucial to its defence in a high stakes criminal cartel case, but the Australian Securities and Investments Commission has flagged a possible appeal of the ruling.
ASIC wins case over options trader’s ‘deliberate deception’
ASIC 2020-02-05 4:09 pm By Miklos Bolza Sydney
ASIC has chalked up a victory in a long-running case against a Marshall Islands-based binary options trader, with a judge finding the trader engaged in the "deliberate deception of vulnerable people".
Judge hits AMP with $5.2M penalty, says greedy financial adviser was ‘in the right place’
AMP 2020-02-05 11:05 am By Miklos Bolza Sydney
The Federal Court has imposed a penalty of almost $5.2 million on AMP Financial Planning after finding it was "reckless" in its “lamentable failure” to properly respond to a now banned adviser who was churning life insurance for higher commissions.
ASIC did nothing about Dover’s client protection policy for over a year, court told
ASIC 2020-02-03 9:59 pm By Christine Caulfield Melbourne
The Australian Securities and Investments Commission formed the view that Dover Financial's "Orwellian" client protection policy was misleading in 2016 but did not raise its concerns with the now defunct firm until 2018, a court has heard.
US class action firms pounce on Westpac
Allens 2020-02-03 2:08 pm By Cat Fredenburgh Melbourne
Westpac is now facing at least eight class actions in various US courts seeking $200 million from the bank for allegedly failing to alert shareholders to violations of anti-money laundering laws.