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The Latest Breaking News from ASIC

Australia’s corporate regulator issues first fine for greenwashing

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

The Guardian - AU

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.

AAP

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

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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

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.

ABC News

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.

AAP

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.

ABC News

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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.

AAP

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.

ABC News

The Retail Industry’s Probbo Uncle Harvey Norman Is Getting Sued Over Allegedly ‘Misleading’ Ads

ASIC alleged in some instances, the "misleading" ads meant customers had to pay a minimum $537 in hidden fees.

Pedestrian.tv

Harvey Norman sued over 'misleading' ads

Australia's corporate regulator is taking legal action against Harvey Norman and a finance group, alleging ads for interest-free purchases are misleading.

AAP

Harvey Norman sued over ‘misleading’ interest-free ads

Harvey Norman has been dragged to court over claims its ads mislead customers about the true cost of buying its products.

The New Daily

Asic sues Harvey Norman over ads for ‘interest-free’ purchases

Corporate regulator alleges consumers were misled as interest-free payments required signing up for credit card with fees

The Guardian - AU

Harvey Norman, Latitude sued for allegedly misleading customers about 'no deposit', 'interest-free' payments

Harvey Norman and Latitude are being sued in the Federal Court for allegedly misleading customers about "no deposit" and "interest-free" payment methods.

ABC News

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ABC News

Elaborate scam allegedly used leading finance app to trick victims out of superannuation

Victims of a sophisticated superannuation scam have raised concerns about how they were given access to a finance app which they claim gave them false confidence their money was safe.

ABC News

Inquest hears husband of alleged fraudster Melissa Caddick 'lost the plot' over ASIC investigation

Facing the inquest for the third day, Anthony Koletti says he thought his wife, alleged fraudster Melissa Caddick, was "honest" and "diligent", passing the blame of her death onto the investigation.

The Guardian - AU

Anthony Albanese says ‘Optus should pay’ for new passports for data breach victims

Push comes day after states suggest telco will pick up multi-million dollar tab for replacing driver’s licences of affected customers

ABC News

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.

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The Guardian - AU

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

ABC News

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

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.

AAP

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.

The Guardian - AU

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

ABC News

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.

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