The following are articles relevant to the Professional Investigator. Click on the title to make a comment or join the conversation.
ASIC releases whistleblower guidance ahead of implementation of new laws – 21 November 2019
The Australian Securities and Investments Commission (ASIC) has released guidance for upcoming changes to the Corporations Act that will require large proprietary and public companies to have whistleblower policies in place by 1 January 2020. The guidance includes a number of mandated items in addition to those required by legislation.
Comminsure to refund $12 million for unfair life insurance telephone sales – 19 November 2019
CommInsure has been hit with a $700,000 criminal penalty for breaching anti-hawking rules, but avoided a maximum penalty of $1.85 million by making an early guilty plea. The bank-owned insurer has also agreed to refund more than $12 million to 30,000 customers who were incorrectly sold a range of life products by Aegon.
https://insurancenews.com.au/life-insurance/comminsure-set-for-sentencing-after-guilty-plea
ASIC disqualifies WA director from managing companies for five years – 15 November 2019
ASIC found that Ms Pellew (the director of several companies) had improperly used her corporate position to gain an advantage for herself. She also failed to prevent the companies from trading whilst potentially insolvent and did not ensure that proper financial records were kept and that the companies paid all relevant taxes.
WA Department of Communities assistant director general charged over $2.5 million fraud – 15 November 2019
The assistant director general of WA’s Department of Communities (Paul Whyte and another man) have been charged with allegedly stealing more than $2.5 million of public money in what could prove to be one of Australia’s most serious cases of public sector corruption. Police claim they raised false invoices and converted the money for their own use.
