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The Latest Breaking News from Joe Longo

Why is Rex Airlines being sued? And why is the government still bailing it out?

Despite ASIC investigating Rex over ‘serious governance failures’, the government is still propping it up. Now what?

Crikey

NAB sued for failing customers in financial hardship

Customers facing issues such as domestic violence and serious medical conditions were let down by NAB in their requests for support, a lawsuit alleges.

AAP

Corporate cop wants finer silk to take on big business

Commonwealth caps on how much the financial market regulator can pay lawyers are giving major corporations an advantage in court.

AAP

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read the most diverse news in one place.

One ASIC more than enough, says corporate cop chief

Splitting the Australian Securities and Investments Commission doesn't have the backing of the chairman who says a funding boost is needed to catch more crooks.

AAP

Watchdog sues ASX Ltd for 'misleading' upgrade claims

Share market operator ASX made misleading statements when it said a platform upgrade was "on track" and "progressing well", the corporate regulator alleges.

AAP

Huge growth of private capital catches regulator's eye

The Australian stock market has been shrinking thanks to a growing number of private equity buyouts and questions are being asked as to why.

AAP

China food giant sued for Aussie wheat-market meddling

Australia's corporate watchdog has taken a Chinese state-owned food processor to court over accusations it manipulated the market for wheat prices.

AAP

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PwC to face scrutiny over advice to clients that might allegedly ‘mislead or subvert’ foreign investment review board

ATO discloses concerns that date back to 2019 in response to questions from Greens senator Barbara Pocock

The Guardian - AU

Mortgage defaults rise as borrowers struggle to keep up

The number of borrowers experiencing financial hardship is mounting and banks have been warned to do more to help households struggling to meet repayments.

AAP

AI race being lost in climate of fear, inquiry told

Investment in AI is lacking and Australia is missing out thanks to a climate of fear over risks posed by the technology, a Senate inquiry has been told.

AAP

'Abandoning customers': lenders fail battling borrowers

Mortgage stress in Australia is at its highest level since the global financial crisis but many borrowers are finding it too hard to get help from their bank.

AAP

Sustainable investment must be real not faked: ASIC

The corporate watchdog wants Australia to attract sustainable investment, not scare it off, but not at the expense of well-meaning consumers and investors.

AAP

Two cryptocurrency companies collapse owing $160m

Two separate Australian cryptocurrency companies have collapsed while federal court proceedings are being pursued against the directors of the businesses.

AAP

Directing companies shouldn't be a Sisyphean task: ASIC

The chair of Australia's corporate watchdog has drawn on Greek mythology to call out company directors who think their jobs are too hard.

AAP

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The Guardian - AU

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’

AAP

'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.

The Guardian - AU

Crypto exchange Binance has Australian financial services licence cancelled by Asic

Regulator says Binance must cease trading by 21 April after it incorrectly classified hundreds of retail customers as wholesale investors

AAP

Share market operator probed for bungled system upgrade

Corporate watchdog ASIC is investigating Australian share market operator ASX for potential breaches after a botched overhaul of its transaction system.

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Sports Illustrated

Phillies, Nola Fail to Agree on Extension Ahead of Opening Day

The starting pitcher is set to hit free agency in the offseason.

AAP

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

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.

Daily Mirror

Joey Lawrence and Samantha Cope announce they are expecting first child together

Joey Lawrence, 46, best known for playing Joey Russo in Blossom and Joe Longo in Melissa & Joey, already has two teenage children with ex-wife Chandie Yawn-Nelson, who he was married to for 15 years

The Guardian - AU

Embattled buy now, pay later sector to be regulated under credit laws

Financial services minister Stephen Jones says government will also move to regulate cryptocurrency exchanges like other financial markets

The Guardian - AU

Consumer groups urge ASIC to mount full investigation into collapsed funeral fund Youpla

Letter from Save Sorry Business coalition also asks that regulator continue misleading and deceptive conduct case against company in federal court

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