ASIC looks to enact more criminal enforcement
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.
Source: moneymanagement.com.au
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ASIC's leadership troubles: James Shipton, Karen Chester
The struggles between ASIC officials made it hard for the government to find a new corporate law enforcement chief.
Source: afr.com
ME Bank penalised $820k by Federal Court
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.
Source: moneymanagement.com.au
ME Bank fined $820k for misleading borrowers
ME Bank has been fined by the Federal Court after it was found to have provided inaccurate information about its home loans to customers.
Source: financialstandard.com.au
ME Bank fined $820,000 for giving home loan borrowers wrong information about their interest rates
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.
Source: afr.com