Active Super has become the latest target of greenwashing claims by ASIC, with the corporate regulator alleging it misled the market about its responsible investment credentials, including by investing in coal mining, gambling, tobacco and Russian companies.
The Australian Securities and Investments Commission has brought legal action against debt management business Solve My Debt Now and its director, alleging customers were usually left in greater debt after using its services.
The Fair Work Commission has found that insurer IAG did not unfairly dismiss a veteran employee after a company review of her at-home cyber activity revealed extensive periods of “no or minimal keyboard activity”.
The Australian Competition and Consumer Commission has released guidelines to help businesses avoid greenwashing and greenhushing, calling on general counsel to avoid broad terms like ‘sustainable’ and ensure businesses have research to back up green claims.
ASIC is seeking penalties against Dixon Advisory & Superannuation Services director Paul Ryan for allegedly failing to consider clients when executing a deed that affected the financial advice firm’s ability to recoup a $19 million debt from its holding company.
The Australian Securities and Investments Commission has filed its first action alleging breach of obligations in designing and selling financial products, accusing online investment platform eToro of inappropriately exposing clients to high risk CFDs.
A judge overseeing the Australian Competition and Consumer Commission’s case alleging auto mechanic Ultra Tune failed to comply with court orders has labelled its managing director Sean Buckley as “one of the more dreadful witnesses” he had seen.
Industrial technology company Delta Building Automation has been found liable for attempting to rig a bid for work on the National Gallery of Australia, in a win for the competition regulator.
An investment manager has been arrested and charged with providing prospective investors with forged portfolio reports.
The Australian Securities and Investments Commission has told a trial judge that superannuation trustee Diversa can’t hide behind outsourcing arrangements to explain its alleged failures to oversee a now-banned financial adviser accused of luring vulnerable customers into signing up to Diversa accounts.