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ASIC Deputy Chair Sarah Court warns the regulator will ramp up action against predatory lenders who target borrowers hit by interest rate rises, as the regulator clocks up more than $30 million in fines this year.
ASIC chairman Joe Longo says the corporate regulator’s case against 11 Star Entertainment directors and executives will break new ground on whether directors in high-risk sectors can be held to a higher standard because of the “forseeable risks”.
The members of Australia’s company boards will be more rigorous in their review of key business risks after ASIC took legal action against 11 officials at Star Entertainment.
Star Entertainment's c-suiters are facing fines of over $1 million each, following legal action launched by Australia's corporate watchdog.
Will a Federal Court lawsuit inspire anyone to hand in their Order of Australia pin? We’ll die holding our breath.