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The Latest Breaking News from ASIC

Why I faked coal tests: insiders on the industry's 'open secret'

"I was told on my first day in the job, this is how it operates. I was horrified to begin with, but you either get on board or you get out the door, and I had a mortgage and kids."

Newcastle Herald · Nov 25, 2022

Investors are missing millions after Union Standard collapsed. But an offshore company structure is complicating investigations

A flashy Australian finance company that sponsored English football team Sheffield United is under intense scrutiny by liquidators over hundreds of millions of dollars in funds investors claim they are owed.

ABC News · Nov 25, 2022

Perpetual funds hit with ASIC stop orders

Fund manager Perpetual has stopped distributing a microcap fund and a fund that employs leverage after ASIC warned they might be too risky for retail investors.

AAP · Nov 25, 2022

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Senator raises concerns over lack of checks for crypto businesses seeking financial services licences

Andrew Bragg says businesses promote themselves as regulated – despite there being no regulation of cryptocurrency in Australia

The Guardian - AU · Nov 24, 2022

Asic seeks record $7.5m penalty against ACBF-Youpla for alleged deceptive and misleading conduct

Corporate regulator alleges funeral insurer engaged in ‘deliberate and knowing conduct of preying on vulnerable Aboriginal people’

The Guardian - AU · Nov 23, 2022

ATO's director ID system deadline looms, with more than 1 million people facing $13,000 fines

There are concerns that up to 1 million Australians are in the dark about a looming tax office requirement — or know about it and are putting off an administrative headache — with just a week until it becomes law.

ABC News · Nov 22, 2022

Revealed: 'Relentless pressure' to fake Hunter export coal test results

Former lab staff tell of 'picking and choosing numbers' in export coal testing 'scam'.

Newcastle Herald · Nov 22, 2022

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FTX bypassed regular process for obtaining Australian financial services licence

Crypto exchange took over a company that already held a licence and the regulator did not assess its fitness

The Guardian - AU · Nov 22, 2022

Minister vows to ensure coal test accuracy after allegations

Energy Minister Chris Bowen says he wants to ensure the "absolute accuracy" of claims made by Australian companies about the quality of coal exports.

Newcastle Herald · Nov 22, 2022

Christmas auction on Melissa Caddick's art

Millions of dollars worth of jewels, designer clothes, and luxury goods owned by Sydney fraudster Melissa Caddick are going under the hammer before Christmas.

AAP · Nov 21, 2022

Why the battle over online reputation management is ramping up

There's a hidden fight going on to change what we see when we search online. In fact, there's a whole industry that will help scrub your worst moments from the internet — for a fee.

ABC News · Nov 21, 2022

Clive Palmer loses Supreme Court fight

Mining magnate Clive Palmer has lost the latest round in his legal fight against the corporate watchdog and regulator.

AAP · Nov 16, 2022

Islamic finance company under ASIC probe

ASIC has been granted a court order against the former head of a failed Islamic finance company, stopping the Sydneysider from leaving the country.

AAP · Nov 11, 2022

Anthony messaged with 'Michelle' every day for months. He was being drained of his savings in an elaborate 'pig butchering' scam

Anthony and a woman he'd met online messaged every day for months. Their chat history shows how scammers won his trust — and then drained his savings.

ABC News · Nov 6, 2022

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AAP · Nov 3, 2022

Buy-now-pay-later, fast cash sector warned

The corporate regulator has warned it's keeping a close eye on lending products being offered to consumers in the tougher economic environment for households.

AAP · Oct 31, 2022

'Uncontested' Caddick assets to be sold

A lawyer for the receivers of Melissa Caddick's estate has obtained a court order permitting the sale of "uncontested" assets previously owned by the fraudster.

The Guardian - AU · Oct 27, 2022

Australia’s corporate regulator issues first fine for greenwashing

Australian Securities and Investments Commission fines Tlou Energy for misleading statements about green credentials

AAP · Oct 26, 2022

Market cop takes first greenwashing action

ASX-listed energy firm Tlou Energy has paid Australia's first penalty for "greenwashing" over claims it could generate carbon neutral power.

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ABC News · Oct 26, 2022

ANZ fined $25 million for misleading more than 680,000 customers over 'Breakfree' package

ANZ was issued the fine in the Federal Court after the bank failed to provide benefits such as fee waivers and interest rate discounts to approximately 689,000 customer accounts.

ABC News · Oct 25, 2022

ASIC sues BPS Financial Limited, company behind cryptocurrency Qoin, in Federal Court

The Australian Securities and Investments Commission is prosecuting Gold Coast digital currency Qoin in the Federal Court over alleged false, misleading or deceptive statements.

ABC News · Oct 18, 2022

Australians losing superannuation savings to sophisticated new scam

A sophisticated new scam targets the retirement nest eggs of Australians, exposing the vulnerability of a superannuation fund and a major bank to scam activity.

AAP · Oct 14, 2022

ASIC secured $230m in corporate fines

Two of the big four banks are among the corporations hit with penalties totalling almost $230 million secured by ASIC in the last financial year.

ABC News · Oct 11, 2022

An overhaul of financial advice aims to make it cheaper, but will it erode consumer protections?

An overhaul of financial advice could make it easier to access, but critics say it will also unwind decades of consumer protections.

AAP · Oct 10, 2022

Household energy bills soar by 25 per cent

Household and small business energy bills are soaring and the consumer watchdog is monitoring the industry for signs of price-gouging.

ABC News · Oct 5, 2022

Economist alleges corporate watchdog ASIC is only investigating tiny proportion of complaints

The Australian Securities and Investments Commission (ASIC) has experienced years of upheaval and a heavy workload after the banking royal commission. An economist's analysis suggests the independent body is only investigating a fraction of complaints.

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