(SPACE)INDEPENDENT REGULATORY COMMISSIONS – AUSTRALIA

Overeach for ASIC to fine us, says big super

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Original article by Lucas Baird
The Australian Financial Review – Page: 10 : 14-Mar-25

Australian Securities and Investments Commission chairman Joe Longo has labelled the superananuation sector the "poster child" for governance failures, with Mary Delahunty saying Longo’s comments are an "overeach". Delahunty is from the Association of Superannuation Funds of Australia, which is the lobby group for the superannuation industry, with ASIC seeking to impose fines on AustralianSuper over its alleged failure to deal with thousands of death benefit claims in a prompt manner. However, Delahunty believes ASIC should use methods such as enforceable undertakings to regulate the industry, rather than fines.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION,(SPACE)THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED,(SPACE)AUSTRALIANSUPER PTY LTD

Ex-Star boss denies police warning on Suncity crime links

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Original article by Glen Norris
The Australian – Page: Online : 14-Mar-25

The Australian Securities & Investments Commission is taking legal action against a number former executives and directors of Star Entertainment in the Federal Court. ASIC is alleging they breached their duty of care in relation to money laundering controls at its casinos, with former Star CEO Matt Bekier giving evidence on Thursday. Bekier told the court that he was not concerned by an email from chief casino operator Greg Hawkins that police had excluded six people associated with Suncity from its Sydney casino, possibly because of links to organised crime, with Suncity being Star’s biggest junket operator. Bekier said he thought that if the police had genuine concerns about the people that they would raised it with Star, rather than "just excluding people without telling us the reason".

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION,(SPACE)THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR,(SPACE)FEDERAL COURT OF AUSTRALIA