The Australian conduct regulator has secured its first criminal conviction for failing to update defective disclosure statements, over the “fees for dead people” scandal that emerged from the financial services royal commission.

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The Australian Securities and Investments Commission (ASIC) has launched civil penalty proceedings in the Federal Court against Insurance Australia Ltd (IAL).

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The Australian Securities and Investments Commission has launched an internal investigation into whether it needed to do more to stop the marketing of Sterling First (Aust) Ltd and associated companies (Sterling First) to vulnerable elderly investors.

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Each time a challenger takes ASIC or AFCA to court, it is always telling to see how it plays out. Essentially, we get to learn more about the reach of their powers.

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