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The Latest Breaking News from ASIC

Melissa Caddick's husband said he was 'confused' when questioned over wife's disappearance

The "distressed" husband of accused Sydney fraudster Melissa Caddick is stood down from giving evidence after becoming "confused" by questions asked to him at an inquest into her disappearance.

ABC News

Australia’s financial sector will pay customers $7.2bn for wrongdoing, regulator says

Australian Securities and Investments Commission issues guide for paying compensation and tells companies to pay up quickly

The Guardian - AU

Melissa Caddick's husband didn't ask why their Sydney home was raided by police in 2020

Anthony Koletti was shocked when ASIC and the AFP raided the home he shared with his wife Melissa Caddick in 2020 but didn't ask the alleged fraudster why she thought a search warrant had been granted, an inquest hears.

ABC News

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ASIC lead investigator tells Melissa Caddick inquest she was not responsible for alleged fraudster's death

The corporate watchdog's lead investigator into Melissa Caddick's alleged Ponzi scheme tells an inquest she does not feel responsible for the accused fraudster's death and was "doing her job".

ABC News

Inquiries have found casinos facilitated money laundering and consorted with criminals — so why haven’t there been charges for executives or directors?

Australia's largest casino groups have been found "unsuitable" to hold licences due to allegations of money laundering and consorting with criminal gangs. But no individuals have faced consequences.

ABC News

Caddick's brother accuses ASIC of 'death'

The corporate watchdog's lead investigator into Melissa Caddick's fraud has denied the suggestion she is responsible for her death.

AAP

Asic bolsters its cryptocurrency team and looks to regulate more digital assets

The regulator’s potential move to classify cryptocurrencies as financial products would make selling them much more difficult

The Guardian - AU

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AMP fined $14.6 million in Federal Court over 'fee for no service' scandal

The Federal Court imposes a $14.6 million fine on embattled wealth manager AMP, which ripped off customers by charging them fees without providing a service in return.

ABC News

'Not isolated': Dixon Advisory fined $7.2m for best interest breaches

Six representatives made 53 breaches during a 3.5-year period.

The Canberra Times

Director ban overturned for unfairness

A company director has had a 20-year ban overturned but will face a fresh court hearing after a judge ruled in favour of a case that hadn't been argued by ASIC.

AAP

Calls for ASIC to investigate The Star Entertainment Group after report finds company 'not suitable' to run casino in NSW

NSW Independent Casino Commission chief Philip Crawford says the corporate regulator should "have a good hard look" at The Star Entertainment Group, after a report this week found the company was "not suitable" to hold a licence for its Sydney casino.

ABC News

Caddick inquest hears of unusual behaviour

The inquest into fraudster Melissa Caddick's disappearance has been told her husband was being vague and giving conflicting stories to police.

AAP

Cops Investigating Melissa Caddick’s Death Planned To Throw Dead Pigs Wearing Shoes Into Ocean

My head is spinning.

Pedestrian.tv

Sydney news: NSW parliament to be adjourned following Queen Elizabeth II's death

MORNING BRIEFING: NSW Premier Dominic Perrottet is due to attend parliament briefly this morning to move a motion to adjourn proceedings as a mark of respect for Queen Elizabeth II.

ABC News

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ABC News

Experts cast doubt over Sydney fraudster Melissa Caddick's foot amputation theory, inquest hears

Expert witnesses say it would be "unlikely" and "extremely difficult" for alleged Sydney fraudster Melissa Caddick to amputate her own foot, an inquest hears.

ABC News

Australians are losing billions in scams and there are calls for banks to pay them back

Sylvia Chou was looking forward to a comfortable retirement before she fell victim to an online investment scam, that she said her bank NAB should have stopped.

The Guardian - AU

Youpla funeral fund: compensation scheme to begin for Aboriginal victims of predatory insurer

Exclusive: People who took out insurance with collapsed insurer at 1 April 2020 to receive payout equal to original promised amount

ABC News

Katy Gallagher and Stuart Robert call for investigation into Greywolf Resources on Q+A, after Aussies lose millions

The Shadow Assistant Treasurer joins calls for ASIC to look into Greywolf Resources, after dozens of Australians lose their hard-earned savings by investing in the purported mining exploration business.

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The New Daily

Alan Kohler: To reform financial advice, start again

The regulation of financial advice in Australia has been a disaster, swinging from not enough to too much of the wrong sort. We need a new copper.

ABC News

Gas giant Santos accused of 'greenwashing' clean energy claims, in Federal Court case

One of Australia's largest oil and gas companies is being taken to court over claims of 'greenwashing' its clean energy credentials.

ABC News

The Greywolf 'goldmine' that never paid off and the elusive man behind it all

Novice investors were convinced to place their hard-earned money in Greywolf, assured of life-changing riches. Instead, they became part of a trail of financial destruction.

ABC News

The banking industry overseer wants more powers, but will it get them?

Three years after it was formed, the committee enforcing breaches of the Banking Code of Practice has used its most serious sanction just twice. That power is writing the name of a bank on a report.

AAP

Sydney debt collector resists $3.25m fine

A Sydney debt collector which admitted harassing and threatening customers has complained a $3.25 million penalty sought by ASIC would destroy its business.

ABC News

Queensland farmer battling Suncorp Bank vows to keep pushing to fix financial services

A farmer who looks set to lose his farm vows to keep fighting for accountability in the financial sector and its lending practices.

The Conversation

How 'bad credit' lender Cigno has dodged ASIC's grasp

Cigno is exactly the sort of business the Australian Securities and Investments Commission had in mind when it asked for stronger powers to ban the sale of harmful financial products.

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