ASIC (345 items)

Stubborn AMP ‘surrenders’ legal briefs

AMP and Clayton Utz have surrendered in their court battle with ASIC over failure to produce documents. Clayton Utz has now provided ASIC “with its internal file notes from the firm’s interviews with current and former employees and officers of AMP,” the financial regulator gloated in a media release yesterday.These briefings were often with very high level executives and mediated at the AMP end by the group counsel, Brian Salter, who left AMP last year. read more

ANZ might pull plug on Revolut before ASIC

Pressure is mounting on the Australian Securities and Investments Commission to revoke special regulatory relief it granted to controversial mobile payments provider, Revolut Ltd.The company is planning to launch in Australia this month but its prospects look less certain after a recent wave of negative newspaper reports in London that allege the company last year failed to tell UK regulators about a protracted breakdown in its anti-money laundering systems. read more

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