Compliance & Ethics

Australia’s financial regulator has filed two major Federal Court actions alleging that SQM Research and Interprac Financial Planning failed in their gatekeeping duties, contributing to widespread losses tied to the Shield Master Fund and First Guardian Master Fund. The coordinated actions demonstrate the ASIC’s growing pressure on research houses, licensees, and intermediaries responsible for steering Australians into high-risk investment products.

The Securities and Exchange Commission’s Division of Corporation Finance is stepping back into gear after the federal government shutdown, and its first order of business is tackling the more than 900 registration statements that piled up while the lights were off. To help issuers understand what happens next, the Division has released new guidance that outlines how filings submitted during the shutdown will move forward now that staff are back at their desks.

The European Commission has opened a formal investigation into whether Google is complying with the Digital Markets Act (DMA) after signs emerged that the company may be pushing news publishers’ content lower in search results. The case marks one of the most significant early tests of how far the EU will go in enforcing the bloc’s landmark digital competition rules.

Alinta Energy has paid $718,740 ($1,089,000 AUD) in penalties after the Australian Energy Regulator (AER) issued a record 15 infringement notices over alleged mishandling of Centrepay deductions and failures to refund and notify customers within the required timeframe.

Sweden’s financial watchdog (Finansinspektionen) has reprimanded Avida Finans and fined the lender USD 1.8 million (SEK 20 million) after discovering gaps in its consumer credit practices.

The Australian Securities and Investments Commission (ASIC) has launched Federal Court proceedings against suspended Western Australia–based mineral exploration company AVZ Minerals Limited and two of its directors, alleging failures to disclose critical information relating to a major lithium project in the Democratic Republic of the Congo (DRC).

Wessex Water and its shareholders are set to fund an £11 million package aimed at addressing failures in the company’s wastewater network, following findings from Ofwat that the utility did not adequately operate or upgrade parts of its system. The regulator announced the proposed enforcement action on Tuesday, opening a public consultation before a final decision is made.