The recent Federal Court decision in ASIC v Bekier (Liability Judgment) [2026] is a timely reminder of the high standards expected of company directors and officers. The case arose from governance failures at The Star Entertainment Group (“The Star”). The Australian Securities and Investments Commission (ASIC) alleged that former CEO and Managing Director Matthias Bekier [...]
Consumers are becoming more interested and insistent on investments which have elements of sustainability. Entities must be aware of their obligations when offering financial products or making sustainability statements in relation to their investments, specifically not to make false statements or mislead their consumers. “Greenwashing” is the practice of misrepresenting the extent to which a [...]
ASIC has commenced proceedings against RI Advice Group Pty Ltd in the Federal Court of Australia for alleged failure to have adequate cyber security systems in place. This marks the first time that ASIC have instituted proceedings of this kind recognising the importance of cyber security as well as the continued spotlight on financial services [...]
Illegal Phoenix activity is when a new company is created to continue the business of an existing company that has deliberately liquidated to avoid paying outstanding debts, including creditors, taxes and employee entitlements. Throughout February to April 2020, the Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019 was passed by Federal Parliament and the relevant [...]
