A senior ANZ executive was “deeply concerned” by the size of the shortfall in its $2.5 billion 2015 equity capital raising, the court heard on the first day of trial in ASIC’s civil penalty case against the bank over alleged disclosure breaches.
A court has wound up Ascent Investment and Coaching, after ASIC filed proceedings against the company and director Michael Dunjey over concerns that investor funds may have been improperly dealt with.
The High Court has rejected investment group Mayfair 101’s bid to challenge a $30 million penalty following a judge’s finding that it misled investors about the risk profile of its financial products.
Qoin cryptocurrency issuer BPS Financial is fighting a class action applicant’s bid to amend its case for the fourth time, saying it is trying to bring an “entirely new claim”.
The director of collapsed Kingscliff-based hedge fund Goldsky has pleaded guilty to five charges of dishonest conduct.
The authorised representative of forex broker Union Standard can’t exclude parts of an opinion by an ASIC-appointed expert in a case alleging it traded in margin products with Chinese clients despite knowing it was illegal under Chinese law.
The Australian Securities and Investments Commission is fighting a challenge by three KordaMentha partners to the regulator’s decision to allow insurer Atradius to subject them to public examination over their administration of failed steel giant Arrium.
Gold Coast ‘finfluencer’ Tyson Scholz has been permanently barred from conducting a financial services business without a license, after a court found he provided illegal financial services by giving tips on his Instagram account and to customers who paid for access to his seminars and ‘Black Wolf Pit’ chat room.
The Australian Securities and Investments Commission has brought its first-ever case concerning unfair insurance contract terms, targeting Auto & General Insurance Company’s standard form home and contents insurance agreement.
The Australian Securities and Investments Commission has won its case against four Linchpin Capital directors after a judge found they duped their clients into lining the directors’ pockets and benefitting the parent company.