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The Latest Breaking News from ASIC

Vanguard hit with record fine over $1b 'ethical' fund

Vanguard has been hit with the largest fine imposed in Australia for greenwashing, as a court ordered it to pay $12.9 million for financial misconduct.

AAP

Liquidator appointed as Fone Works ordered to wind up shop

Newcastle customers were offered specials four days before the order.

Newcastle Herald

ASIC lawsuit a warning shot to car dealerships

ASIC has said a case against a Sydney car dealership over excessive loans should be a warning to others in the industry that they too will be under scrutiny.

AAP

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Woolworths and Coles sued by ACCC for allegedly misleading shoppers over the price of more than 500 products

At a time most people are trying to cut their weekly grocery bills, Australia’s supermarket giants have been hit with legal action for allegedly misleading shoppers over the price of hundreds of products.

The Conversation

The Australian tenants who are charged to pay their rent

An increasing number of real estate agents are moving tenants’ payments on to so-called ‘rent-tech’ platforms. Renters say they have little power to say no

The Guardian - AU

Crying poor claim as insurers accused of price gouging

A crackdown on how insurers respond to climate change has been declared by the corporate watchdog, as a union accuses some of the biggest firms of crying poor.

AAP

Labor suspends government work being done by firm accused of fabricating Indigenous data

Finance department suspends McNair yellowSquares from contracts until whistleblower claims are investigated

The Guardian - AU

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Whistleblower claims false survey data was provided to Australian defence department

Exclusive: Details on a military recruitment survey were allegedly fabricated, claims whistleblower who is seeking protection under Australia’s complex disclosure laws

The Guardian - AU

Whistleblower claims he was told to fabricate data for AEC during Indigenous voice campaign

Fake survey data was supplied on project designed to gauge awareness among Indigenous Australians of referendum process, the market researcher claims

The Guardian - AU

Australia's Financial Regulator Cracks Down On Over 600 Crypto Investment Scam Websites In 1 Year

Australia's ASIC has been on a year-long crackdown on investment scams, taking down websites that lure Australian consumers – among its targets in the crackdown were crypto investment scams.

International Business Times

Morning Mail: Asic’s crypto site crackdown, Sydney Metro extension opens, Larry Emdur’s golden moment

Regulator playing whack-a-mole; travel times to be slashed in NSW capital; diplomatic push under way for Gaza ceasefire deal

The Guardian - AU

Asic taking down average of 20 scam websites a day

Crypto scams accounted for 615 takedowns, the regulator says, as total number exceeds 7,300 in 12 months

The Guardian - AU

Australia’s corporate watchdog is suing our largest stock exchange. What’s going on?

The Australian Securities Exchange (ASX) is unusual in the world of finance.

The Conversation

Australian shares finish higher for fourth straight day

The ASX200 has finished up 0.3 per cent as Commonwealth Bank, Pro Medicus, Evolution Mining, Seven Group and other big companies report earnings.

AAP

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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.

The Guardian - AU

Centrepay report that found major failings ‘ignored’ by successive Coalition governments, author says

Anna Buduls says her 2013 report, which found major failings with controversial debit system, was mostly forgotten about

The Canberra Times

Corporate watchdog steps in as Wallaroo solar farm controversy grows

As submissions close, ASIC has become involved.

The Guardian - AU

Consumer watchdog urges crackdown on businesses using Centrepay to cause financial harm

It is alleged energy companies deducted money from welfare payments of people, including Indigenous Australians, who were no longer customers

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AAP

Vanguard faces fine for greenwashing 'ethical' fund

Investment firm could have to pay fines amounting to all, or most, of it's annual profits after misleading consumers by promoting an "ethical" investment fund.

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.

The Conversation

ANZ is embroiled in allegations it manipulated government bond sales – what exactly does that mean?

ANZ is being investigated by the Australian Securities and Investments Commission (ASIC) amid serious allegations the bank manipulated markets when it facilitated a A$14 billion sale of government bonds in April last year.

The Guardian - AU

Corporate regulator urges crackdown on Centrepay after more than 40% of businesses found to be non-compliant

Asic alarmed at commonwealth finding that almost half of companies investigated failed to follow standards

AAP

Pump and dump share scheme 'tried to rig stock prices'

Members of an encrypted chat group tried to artificially inflate share prices before selling the stock in a 'pump and dump' scheme disrupted by the regulator.

AAP

Amex fined $8m over unsuitable David Jones credit cards

American Express will have to pay an $8 million fine after offering co-branded David Jones credit cards without ensuring they were appropriate for customers.

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