ASIC

Australian Pension Fund Hit with $10.5 Million Fine for Greenwashing Practices

2 months ago

In a groundbreaking decision underscoring the increasing scrutiny on environmental claims, an Australian pension fund has been sanctioned with a hefty fine of $10.5 million for misleading investors regarding its commitment to sustainable and environmentally friendly investments. This verdict marks one of the largest penalties related to greenwashing in Australia, as authorities strive to uphold the integrity of environmental investment claims and ensure consumer confidence in sustainable finance.

HSBC Faces Legal Action from Australian Regulator Over Scam Losses

5 months ago

In a significant turn of events, HSBC Holdings plc has found itself embroiled in a lawsuit initiated by the Australian financial regulator, the Australian Securities and Investments Commission (ASIC). This legal action revolves around the bank’s alleged failures to adequately safeguard customers against scams, leading to substantial financial losses for many individuals.

Zimbabwe's Cabinet Acknowledges Supply Crisis Following Currency Devaluation

7 months ago

In a significant development, the Zimbabwean cabinet has publicly recognized the growing limitations in the supply of basic goods amid the recent steep devaluation of the Zimbabwean dollar against the US dollar. This acknowledgment comes as the economy struggles to stabilize, raising concerns over the affordability and availability of essential commodities for the populace.