News Articles for Australian Securities and Investments Commission

A former Perth finance broker at the centre of an investigation by the corporate watchdog has been spared jail after pleading guilty to two counts of fraud and one of giving false information.

Superannuation provider Colonial First State has misled thousands of customers over whether they should choose a low-fee product.

Australia's corporate watchdog has temporarily banned Robert Brady from managing corporations after liquidators were appointed to three of his associated companies.

The corporate watchdog has charged the former head of a WA labour hire company at the centre of a major investigation for allegedly failing to cooperate with authorities.

A joint venture between WA companies Pathfinder Resources and Cazaly Resources is set to list on the ASX in October, having launched an initial public offering to raise $9 million.

Four Western Australian explorers are preparing to list on the ASX, having launched initial public offerings to raise a combined $34 million.

Retail turnover has taken its largest dive for the year, falling 2.7 per cent in July.

ASX Trade's outage in November 2020 was caused by the release of a software update which was not ready to go live, an independent review has found.

Business registrations in Western Australia hit the highest level in at least 10 years, recent data shows.

The number of businesses collapsing in Western Australia fell by almost half in the 2021 financial year, matching decreases across the country.

ASIC has launched another lawsuit against Morley real estate developer MKS Property and Monica Kaur over allegations they helped raise $11 million as part of an unregistered investment scheme.

Biotechnology company Holista CollTech says it will defend allegations made by ASIC, including “misleading” claims about the effectiveness of its sanitiser spray against COVID-19.

ASIC has launched legal action against biotechnology company Holista CollTech over alleged misleading statements, including claims about use of its spray against coronavirus.

Wealth manager AMP is embroiled in another fees for no service controversy, this time with superannuation customers.

Financial services group AMP will not face criminal prosecution three years after a banking royal commission found it had charged fees to thousands of dead customers.

Architecture firm HHA Architects has been placed into liquidation at the hands of property developer Norman Carey, after he won a court case to safeguard its insurance.

Australian agricultural and forestry company Pentarch is suing businessman Desmond Blechynden over allegations that he failed to declare conflicts of interest and gifts.

Australia's banking watchdog has written to the nation's banks, warning there are signs of some increased risk-taking as homebuyers rush to secure loans in a heated housing market.

Austal has lowered its full-year earnings and revenue targets, due to delays in construction as well as expected costs associated with a recent claim against the Henderson-based shipbuilder.

ASIC has permanently banned Kim Hanson over the alleged misuse of $3 million of trust funds and confirmed it is continuing to investigate Australian Reliance Group.

Austal and former chief executive David Singleton are facing legal action over an alleged failure to properly disclose a change in the company's earnings guidance in 2016.

ASIC is in line for a new program designed to stop it imposing too many fees across the economy.

Financial regulator ASIC is taking wealth manager AMP to court for selling life insurance to dead people – one of the controversies from the banking royal commission.

Local engineering and construction group Aerison is planning to list on the ASX next month, having lodged an IPO to raise $13.5 million.

West Perth-based Marvel Gold is proposing to demerge a Tanzanian graphite project into a new listed entity that will target $13 million under an IPO, expected to launch next month.

Westpac is being sued for alleged insider trading, amid claims the bank unfairly profited from a $12 billion interest rate swap deal.

Further charges have been brought against Perth-based financial adviser Rahul Goel, including counts of dishonest conduct and false certification of documents.

Experienced lawyer Joe Longo, whose past clients range from fallen 1980's entrepreneurs to global banks, has been appointed chair of the corporate watchdog.

The corporate watchdog says its investigations following the banking royal commission have so far resulted in $77.65 million in penalties.

Investors left out of pocket by the 2016 break-up of former AFL footballer Andrew Donnelly's insurance business are leaving no stone unturned in their quest for lost money.

Australia's securities regulator says it will seek penalties and other orders against Commonwealth Bank after the Federal Court found the country's top lender had overcharged interest to customers.

The chair of Australia's corporate regulator has been cleared of misconduct after an expenses investigation, but will still resign.

UPDATED: Commonwealth Bank boss Matt Comyn expects scrutiny and regulatory concerns to increase for buy now, pay later providers.

The demerged company of Perth-based Magmatic Resources is seeking to raise $10 million from its initial public offering, which opened today.

Westpac and Commonwealth Bank are facing separate allegations over breaches related to funding and loan products, and interest rate charges.

The Federal Court has found Sydney-based Theta Asset Management contravened federal law by issuing defective product disclosure statements for now-defunct investment group Sterling First.

Buy now, pay later giants Afterpay and Zip are unlikely to face more regulatory challenges despite government research showing one in five customers of such providers miss payments.

Former BAC Enterprises director Mark Armstrong has pleaded guilty to submitting a false statement to Australia's corporate watchdog in relation to business liabilities.

A surge in demand during the COVID-19 pandemic has lifted revenue at Spudshed's parent company by 24.5 per cent, though margins have been squeezed.

The former deputy chair of the corporate watchdog continued to receive taxpayer-funded rental payments for more than a year after concerns were first raised.