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The Latest Breaking News from ASIC

‘I do feel bad about this’: Englishman who posed as HyperVerse CEO says sorry to investors who lost millions

Exclusive: Stephen Harrison says he was paid to play role of chief executive of the crypto investment scheme but denies having ‘pocketed’ any of the money lost

The Guardian - AU

Hunter residents and super funds hit by $13m collapse of local lender Funda

Hunter residents and super funds hit by $13m collapse of local lender Funda

'Unlikely to be a good outcome,' Funda director Nathan Wright.

Newcastle Herald

Asic faces questions over failure to warn consumers about HyperVerse crypto scheme

Asic faces questions over failure to warn consumers about HyperVerse crypto scheme

Assistant treasurer Stephen Jones says concerns should have been raised about scheme that appeared to be selling ‘worthless investment products’

The Guardian - AU

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Newcastle AMP financial adviser banned for 'real conflict of interest'

AMP kept Darron Mink on after he breached the Corporations Act.

Newcastle Herald

Investors lose millions as crypto schemes operate unchecked in Australia

Exclusive: the New Zealand regulator has warned the schemes could be a ‘scam’ but they have escaped such scrutiny in Australia and thousands have lost money

The Guardian - AU

ANZ fined by regulator over disclosure failings

The Federal Court has ordered ANZ to pay a $900,000 penalty for failing to transparently declare where its shares went in a 2015 capital raising event.

Social media ads are littered with ‘green’ claims. How are we supposed to know they're true?

Online platforms are awash with ads for so-called “green” products. Power companies are “carbon neutral”. Electronics are “for the planet”. Clothing is “circular” and travel is “sustainable”. Or are they?

The Conversation

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Hefty fine for RACQ after misleading discounts

Hefty fine for RACQ after misleading discounts

Insurer RACQ has been hit with a $10 million penalty in the Federal Court after potentially misleading customers about price discounts.

Mercer Financial fined $12m over fees for no service

Mercer Financial fined $12m over fees for no service

Mercer admitted inadequate fee disclosures and to charging 761 clients a combined $4.7 million in fees for services they never received.

Nuix lawsuit 'in the teeth' of ASIC's own advice

Nuix lawsuit 'in the teeth' of ASIC's own advice

Nuix has claimed public guidance provided by ASIC around disclosure contradicted the financial watchdog's own lawsuit against the investigative software firm.

Strategic Changes to CFD Trading in the UK and Australia

Discover how UK and Australian CFD traders adapt to new regulations with more intelligent risk management and strategic trading in the Forex and Crypto domains.

'Underperforming' Nuix stayed mum after $1.8b float

'Underperforming' Nuix stayed mum after $1.8b float

Nuix has been accused of misleading the market by not publicly divulging a failure to meet financial targets presented during a $1.8 billion public offering.

Loan sharks taking advantage of desperate Australians amid cost-of-living crisis, Asic warns

Loan sharks taking advantage of desperate Australians amid cost-of-living crisis, Asic warns

Corporate watchdog says lenders targeting people with small, high-interest loans, leading to ‘debt spirals’

The Guardian - AU

'Alarming': big gaps in organisations' cyber security

'Alarming': big gaps in organisations' cyber security

The corporate regulator has called on organisations to prioritise cyber security after a survey revealed significant threats to the private data of Australians.

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The Canberra Times

What led ASIC to ban a Canberra property developer

Former directors had links to more than 40 companies.

Pair to stand trial over alleged $2.2 million fraud

Two men accused of using telemarketing to lure investors into a $2.2 million fraudulent property scheme have been ordered to stand trial.

The Conversation

Making money green: Australia takes its first steps towards a net zero finance strategy

This article is part of a series by The Conversation, Getting to Zero, examining Australia’s energy transition.

Palmer resort and election fraud case paused for appeal

Businessman Clive Palmer has won a bid to pause a criminal case against him in the Magistrates Court while he waits for an appeal in the Supreme Court.

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The Guardian - AU

Taylor Swift: warning over fake tickets as NAB urges punters to be wary of social media scams

Concern around fake Taylor Swift ticket scams comes as bank reveals $220,000 worth of transactions abandoned daily

Accused auditors dodge black mark by resigning: ASIC

A Senate committee has heard auditors accused of committing misdemeanours could escape consequences and scrutiny by resigning.

Palmer accused of 'backdoor' delay over fraud charges

Prosecutors have told a court their charges of alleged fraud against businessman Clive Palmer and his Coolum resort had been "on foot for a very long time".

The Guardian - AU

PwC partner at centre of tax advice scandal banned by Asic for eight years

Financial regulator finds Peter John Collins is ‘not a fit and proper person to provide financial services’

PwC partner at centre of tax scandal banned by watchdog

Peter-John Collins has been banned by ASIC from providing financial services for eight years following his role in the PwC tax advice scandal.

ASIC in 'shameful' conduct towards farmers over banks

The corporate regulator has failed to investigate cases of alleged misconduct by banks against Australian farmers, a parliamentary committee has been told.

The Guardian - AU

Australia’s corporate watchdog launches ‘confidential proceedings’ against Deloitte partner

The partner has been referred to a disciplinary panel for investigation, the firm tells a NSW parliamentary inquiry

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