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.
Prosecutors have dropped its fraud case against the former chief financial officer of a unit of collapsed Gold Coast finance company Octaviar Investments, citing his poor health.
Westpac has hit back at a bid by ASIC to add an allegation to the regulator’s insider trading case that hinges on the bank providing financial services when it traded on the morning of a $16 billion deal to privatise electricity provider Ausgrid.
Eleven current and former Star Entertainment executives have refuted ASIC’s claims that they breached their duties in relation to the casino operator’s lax money laundering compliance, with all but two denying they had a duty to ensure the company complied with its legal obligations.
Australia’s largest private health insurer Medibank has been hit with a shareholder class action in the wake of a massive cyberattack that left the data of 10 million customers exposed.
The corporate watchdog has commenced a probe into ASX’s handling of the CHESS replacement program, including in relation to possible continuous disclosure breaches and misleading or deceptive conduct.
Beauty giant McPherson’s has denied ASIC’s claims that it misled the market and breached its disclosure obligations in 2020, arguing that a document showing sales of its Dr LeWinn’s line were down by $21 million was a draft that couldn’t have been used to revise a financial forecast.
Mining equipment company Qteq and its executive chairman Simon Ashton have denied allegations of bid rigging and other cartel conduct levelled by the Australian Competition and Consumer Commission.
The Australian Competition and Consumer Commission and Mazda have both lost their appeals in a case over the car manufacturer’s ‘appalling’ customer service, with three judges questioning the regulator’s decisions in how it ran the case.