Tim Mullaly News Today

The balance of ASIC enforcement activity is skewed towards civil rather than criminal cases, but the corporate regulator says it is seeking to redress this matter.

The struggles between ASIC officials made it hard for the government to find a new corporate law enforcement chief.

ME Bank has been ordered to pay $820,000 by the Federal Court for pleading guilty to criminal charges of making false and misleading representations, and failing to provide written notices regarding home loans.

ME Bank has been fined by the Federal Court after it was found to have provided inaccurate information about its home loans to customers.

Lenders have been put on notice to use “very high levels of diligence” on software systems after the Federal Court fined Members Equity Bank $820,000 for sending home loan customers letters with inaccurate information.

ME Bank was fined $820,000 after pleading guilty to criminal charges of making false and misleading representations and failing to provide required written notices regarding home loans.

An Australian bank will have to cough up almost $1 million after it was criminally prosecuted for failing t...

The bank failed to send accurate home loan info to its customers

Joe Longo is running out of time to show that ASIC has teeth when it comes to corporate enforcement

Court permanently bans one of scheme's directors