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Regulatory

ASIC cracks down on investment manager

ALLY SELBY  |  MONDAY, 15 JUN 2020
The Australian arm of a global investment management company has agreed to additional conditions imposed on its AFSL by the corporate watchdog.

SEC charges COVID-19 microcap scammers

ALLY SELBY  |  FRIDAY, 12 JUN 2020
Five people and six offshore entities have been charged over an alleged fraudulent scheme which sought to capitalise on the COVID-19 pandemic through the illegal sale of microcap stocks.

ATO streamlines tax return process

ELIZA BAVIN  |  FRIDAY, 12 JUN 2020
The Australian Taxation Office has announced a streamlined approach for tax time to allow people to easily claim tax deductions for work from home arrangements.

ASIC quietly granted new access to phone taps

ELIZABETH MCARTHUR  |  THURSDAY, 11 JUN 2020
While other legislation and regulatory work was delayed as a result of COVID-19, ASIC was recently granted the power to receive intercepted information, such as tapped phone calls.

COVID-19 inspires pump and dump scheme

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 JUN 2020
A Californian penny stock trader is in trouble with the law after he claimed a company he was trading stocks in had developed a special COVID-19 test.

CBA coughs up $5m over RC case study

ALLY SELBY  |  TUESDAY, 9 JUN 2020
ASIC has trumped the Commonwealth Bank for failures in its AgriAdvantage Plus Package, with the Federal Court of Australia ordering the bank to cough up a $5 million penalty.

Government announces fresh crackdowns on foreign investments

ALLY SELBY  |  FRIDAY, 5 JUN 2020
Treasurer Josh Frydenberg has announced a major crackdown on foreign investment in Australia, including new overriding "last resort powers" which will allow him to force foreign divestment in exceptional cases.

38 staff punished over AUSTRAC scandal: Westpac

ELIZA BAVIN  |  THURSDAY, 4 JUN 2020
Westpac has confirmed 38 staff copped a range of remuneration consequences as a result of the bank's investigations into the AUSTRAC scandal.

Keybridge takes WAM to court

ELIZA BAVIN  |  WEDNESDAY, 3 JUN 2020
Keybridge Capital has launched legal proceedings against Wilson Asset Management, alleging WAM improperly transferred Keybridge shares into its own name.

Renewed scrutiny for ME Bank

ELIZABETH MCARTHUR  |  TUESDAY, 2 JUN 2020
Liberal MP Tim Wilson has asked to recall ME Bank to the House of Representatives Standing Committee on Economics after correspondence with ASIC for a hearing later this week.