The former CEO of Blue Star Helium has asked the High Court to throw out a $40,000 penalty and four-year ban imposed on him after the company failed to disclose to shareholders the identity of the buyer behind a botched sale of Texas oil assets.
A judge has imposed a $14.5 million penalty on five AMP entities, saying it was “surprising and concerning” that the wealth manager deducted $356,000 from customers’ superannuation accounts for advice they never received, despite numerous complaints.
The consumer regulator has taken a page from ASIC, warning it will take action against businesses that make unsupported environmental or sustainability claims.
Two receivers for unlicensed investment scheme A One Multi Services have lost their bid to have 85 per cent of their future remuneration paid out immediately, with a judge agreeing with the corporate regulator that the receivers should not have “what are in effect trust funds”.
A judge has signed off on a $7.2 million penalty against Dixon Advisory after the company admitted to ASIC allegations that its advisors failed to act in its clients’ best interests by recommending they invest in a risky US-based real estate investment fund.
The Australian unit of Mylan is challenging the ATO’s rejection of a $48 million deduction for 2020 in the generic drug company’s latest spat with the tax office over interest on loans to fund its $1.2 billion acquisition of generic drug maker Alphapharm.
A judge has found that dairy processor Lactalis Australia breached a mandatory industry code between farmers and processors requiring it to publish milk supply contracts on its website.
Facebook owner Meta has filed a bid to pause a case by the consumer regulator over scam cryptocurrency advertisements until the determination of a private criminal action brought by mining magnate Andrew Forrest.
Noni B owner Mosaic Brands has paid $266,400 in fines after allegedly misleading customers about selling “FDA approved” face masks and “ACCC approved” hot water bottles.
Despite scoring a win Thursday in his appeals court battle with ASIC, Mayfair 101’s James Mawhinney was criticized for his “spurious” claims against solicitors and counsel acting for him.