News Articles for Australian Securities and Investments Commission

A stockmarket trader who used the online chat forum HotCopper to ‘pump and dump' shares faces the possibility of a long jail sentence after pleading guilty to 23 charges.

Businessman Nicholas Ivanina has been forced to surrender almost $4 million in assets, including cash and an apartment, following a major international investigation led by federal police.

The corporate watchdog has torn up the licence of West Perth-based investment service Quattro Capital Group and barred director Grant Gibson over its ties to embattled investor Mayfair 101.

Australian Mines' Benjamin Bell has resigned as a director after the corporate watchdog moved to strip him of his right to manage a corporation over disclosure allegations.

Exploration company Australian Mines and its managing director Benjamin Bell are facing allegations of breaching disclosure obligations about the Sconi Project.

ASIC has banned a Landsdale-based director from managing companies for more than four years after three of his businesses collapsed with $10 million in debts.

Five Mexican fast food chain restaurants in Perth have closed their doors after liquidators were called in yesterday.

Corporate regulator ASIC is alleging a former auditor made a false and misleading statement about collapsed former ASX-listed business Big Un.

Perth-based financial advisory firm PMM Group has mounted a $2.8 million legal claim against the company of Perth businessman Rodney Charles Carter over an alleged share sale gone wrong.

The Crown royal commission has just been completed but another ‘closed doors' inquiry will be pivotal in determining the company's future.

Australia's top corporate regulator said today there was not a strong basis to take legal action against the directors of Crown Resorts, despite the revelations in three major inquiries.

The corporate watchdog has taken to the Federal Court in a bid to appoint provisional liquidators to Applecross-based Ascent Investment just months after having its assets frozen.

Two former directors of collapsed Capital Mining have faced court accused of dishonestly using their position to gain $2.6 million.

The developer behind the shelved Puma Petrol Station in Dunsborough has had its $22 million replacement proposal shot down, despite lodging revised plans in an 11th-hour bid to gain approval.

James Cruickshank has been banned from managing companies for four years, after the former Blue Star Helium boss was found to have breached ASX disclosure laws.

The Federal Court has frozen the assets of Applecross-based Ascent Investment and ordered director Michael Dunjey to surrender his passport, amid a probe by ASIC.

ANZ Bank has agreed to a $25 million fine for failing to give customers their entitled benefits such as rate discounts across about 580,447 accounts.

Australian financial markets firms continue to be resilient amid an evolving cyber threat environment but have fallen short of improvement targets, ASIC has revealed.

The Supreme Court has rejected an attempt by the corporate regulator to overturn payments to insolvency experts Martin Jones and Andrew Smith.

The corporate regulator has taken the unprecedented step of launching multiple legal actions at once against one of Australia's big four banks.

Former asbestos removalist boss David Scofield has been banned from managing operations for five years, after four of his companies went bust in 2020.

The ASX will have to strengthen its governance following ASIC's investigation into a major trading outage that forced the exchange to shut down for a day in November last year.

Swick Mining Services is on track to demerge and list its Orexplore Technologies business, with a shareholder meeting scheduled for next month and documents submitted to ASIC.

Former AMP financial adviser David Fong and his financial planning company have been charged with engaging in dishonest conduct following an investigation by the corruption watchdog.

ASIC has defended its handling of concerns raised ahead of the Sterling First collapse, while confirming the company's conduct could warrant criminal charges.

American West Metals is seeking to list on the ASX next month, with proceeds from its IPO to advance zinc and copper projects in the US and Canada.

Chalice Mining's gold spinout is seeking to list on the ASX next month, having launched an IPO to raise $30 million.

Westgold Resources has sought to withdraw its $120 million takeover proposal for Gascoyne Resources after a conflicting merger was approved by the Supreme Court of WA.

The spinout of Aldoro Resources' gold assets has listed on the stock exchange, closing up 12.5 per cent on its offer price.

ASIC is seeking civil penalties from personal loans agency Ferratum Australia for charging prohibited fees and overcharging consumers who paid off loans early.

A local medtech focused on the early detection of heart disease has sought $40 million through an IPO, which will in part be used to fund the development and commercialisation of its software.

Westgold Resources has submitted its bidder's statement for Gascoyne Resources following a week of contention related to the multi-million-dollar takeover.

ASIC has provided ASX-listed companies with new JobKeeper disclosure guidance ahead of fast-approaching deadlines for newly enacted transparency measures.

The spinout companies of Hawkstone Mining and Liontown Resources have hit the ASX boards, joining Recharge Metals which listed yesterday.

Besra Gold has returned to the ASX after a restructuring, while E79 Gold Mines has started trading and Medallion Metals has spun out its nickel assets.

Westgold Resources is preparing to lodge its takeover bid for fellow goldminer Gascoyne Resources, following “positive engagement” with the target's shareholders.

The Australian Prudential Regulation Authority has told banks they need to raise the serviceability buffer when assessing new loan applications.

Marvel Gold's graphite spinout is seeking to raise $22 million ahead of its ASX listing in November.

People are increasingly using social media to "pump and dump" shares while other participants are left with heavy losses.

Quintis and several of its senior executives are facing defamation action at the hands of the company's former director, a claim it intends to vigorously defend.