News Articles for Sarah Court

One of the country's biggest superannuation fund trustees will pay a $23.5 million penalty after more than 7,000 of its members experienced unreasonable delays.

Duncan Stewart, the brother-in-law of then-Kidman chief executive Martin Donohue, has been sentenced for insider trading in relation to the Wesfarmers takeover of Kidman Resources.

A jury has found Chris Marco guilty of defrauding investors of more than $34 million, after a five week trial in the state's highest court.

A failure by one of Australia's largest superannuation funds to disclose issues to ASIC, including incorrect insurance refunds for dead members, has resulted in Federal Court action.

The corporate watchdog has sued the trustee Australia's largest superannuation fund over the delay in processing thousands of death benefit claims.

The trustee of Australia's largest superannuation fund has been hit with a $27 million fine for failing to merge multiple member accounts, resulting in duplicate fees.

The Australian Securities and Investments Commission has sued HSBC Bank Australia over what it described as “systemic and widespread” failures to protect customers from scams.

Life insurance provider HCF Life could be set for penalties after the Federal Court found its ‘recover' range of products was liable to mislead customers.

ASIC has welcomed the big fine in its first greenwashing case before the courts, in what was the second regulatory blow for Mercer this year.

ANZ has been ordered to pay a $15 million penalty after admitting to misleading more than 186,000 customers over fees and interest charged.

The financial services regulator alleges AustralianSuper charged members the same set of fees multiple times and failed to consolidate duplicate accounts.

The corporate watchdog is suing PayPal Australia, claiming the payment service company had an unfair term in its contract forms for small businesses.

The corporate regulator has alleged that between 2015 and 2022 Westpac didn't respond to financial hardship notices from 229 customers.

The Federal Court has decided Frank Wilson did not breach his director's duties after finding ASIC could not prove its allegations against the Quintis Sandalwood founder.

Australia's corporate regulator laid 125 criminal charges and 19 individuals have been disqualified or removed from directing companies in the first half of 2023.

The federal government has assembled a crack team of scam-busting experts to target investment swindles that cost Australians millions of dollars a year.

The former director of ASX-listed resources company Australian Mines has been fined $70,000 and disqualified from managing corporations for two years.

Not-for-profit insurance provider HCF Life is being sued by the corporate watchdog over alleged unfair contract terms that could mislead the public.

A superannuation fund has forked out $13,320 after the Australian Securities and Investments Commission issued an infringement notice for alleged greenwashing.

The Australian Securities and Investments Commission is suing corporate super fund Mercer Superannuation in the watchdog's first legal action against alleged greenwashing.

A Woodlands man has been sentenced to 12 months' imprisonment, but will be released on a two-year good behaviour bond, for conspiring to pump up the price of Quantum Resources shares.

Aspiring Perth-based oil and gas company Black Mountain Energy has been fined almost $40,000 for "greenwashing" its sustainability statements on the stock market.

A former Perth financial adviser has been sentenced to three years in prison over allegations that he took out $35,000 from his First Nations clients' superannuation funds.

Australia's corporate regulator has launched legal proceedings against 11 directors and officers of The Star Entertainment Group and again defended not taking similar action against Crown Resorts.

Former Blue Star Helium chief James Cruickshank has lost an 11th-hour bid to rid himself of an ASIC ban and $40,000 fine for failing to share asset sale details with investors.

The lead auditor of failed ASX-listed video marketing company Big Un has been convicted over a report about its financial health less than a year before its collapse.

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.

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

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

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

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

Popular activewear brand Lorna Jane has been fined $5 million in the Federal Court for claiming its clothes prevent the transmission of COVID-19.

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

Popular activewear brand Lorna Jane is being taken to court by the consumer watchdog for allegedly falsely claiming its clothes could eliminate COVID-19 and stop it spreading.

STA Travel has been ordered to pay $14 million in penalties for misleading advertising related to a product that purported to let consumers change the dates of their flights without fees.