News Articles for John Price

Andrew Young, the former director and founder of collapsed whitegoods distributor Kleenmaid, has been found guilty today on 19 charges involving fraud and insolvent trading.

The corporate regulator has strongly criticised company directors and lead managers involved in mining IPOs, saying they often have conflicts of interest, favour select clients and are focused on chasing short-term gains.

Shares in cryptocurrency-focused DigitalX have fallen nearly 12 per cent today after the company revealed it has been served with a $US1.8 million claim in the Federal Court of Australia.

Perth-based company Superfunded has been placed into liquidation after the Federal Court made orders to wind-up the business following an application by the corporate watchdog.

UPDATED: Australian startups will now be able to raise capital via crowdfunding sources after the corporate watchdog today approved the first batch of licences allowing companies to act as intermediaries in the process.

The corporate watchdog has banned a Perth financial adviser from the industry for failing to act in the best interests of his clients while he was employed by a subsidiary of Westpac.

The corporate watchdog has removed a Perth insurance broker from the industry for failing to comply with regulations.

Former Australian Wheat Board chairman Trevor Flugge has been fined $50,000 and barred from managing corporations for five years, after he was convicted in December of breaching his duties as a director while the company was making questionable payments to the government of Iraq.

The corporate watchdog has permanently banned former Perth-based financial planner Simson Kwok from the industry for intentionally mishandling more than $4 million of clients' funds while working for HSBC.

The corporate watchdog has permanently banned two local brokers from providing financial services for misconduct, while winding-up three abandoned companies based in Western Australia.

The corporate watchdog has permanently banned Marion Pearson from providing financial services after she was found to have engaged in ‘misleading and deceptive' conduct.

The Australian Securities and Investments Commission has permanently banned former Patersons Securities WA state manager Lewis Fellowes from providing financial services after finding he had transferred about $1.5 million of clients' funds into his own accounts.

Troubled iron ore miner Pluton Resources has been restricted from issuing a reduced content prospectus until next year because it failed to comply with reporting and disclosure obligations, the Australian Securities and Investments Commission says.

Former Aperio Resources director Andy Lim has been sentenced to 12 months jail in the Perth District Court on a fraud charge brought by the Australian Securities and Investments Commission.

Construction and development firm Diploma Group has been fined by the corporate watchdog for failing to comply with its continuous disclosure obligations.

Australia's corporate regulator has banned a WA-based investment adviser for three years for market rigging.