ASIC Disqualifies Director Simon Raftery for Two Years and Six Months

ASIC has disqualified Simon Raftery from managing corporations for two and a half years due to his involvement in five failed companies that owed approximately $43 million. Mr. Raftery's application for a stay on the disqualification decision was refused by the Administrative Review Tribunal.

ASIC Disqualifies Director for Five Years Due to Company Failures and Fraud

ASIC has disqualified Vincenzo Frank Tesoriero from managing corporations for five years due to his involvement in the failure of 20 companies. The disqualification stems from improper conduct, including facilitating fraudulent transactions and failing to maintain adequate records.

ASIC Secures Record $350M Civil Penalties and $583M in Refunds

ASIC announced record civil penalties of $349.8 million and $583 million in refunds and payments to Australians for the second half of 2025. These outcomes resulted from successful enforcement actions against major companies and super trustees for serious misconduct.

Macquarie Securities fined $35 million for short sale misreporting

The New South Wales Supreme Court has ordered Macquarie Securities (Australia) Limited (MSAL) to pay a $35 million penalty for systemic failures that led to the misreporting of tens of millions of short sales over more than a decade. ASIC initiated civil proceedings against MSAL in May 2025.

Basel Committee Discusses Cryptoasset Standard and Repo Market Vulnerabilities

The Basel Committee on Banking Supervision met to discuss vulnerabilities in government bond-backed repo markets and progress on a targeted review of its cryptoasset exposure standard. The committee also approved technical amendments to the standardized approach to operational risk and a response to a market risk framework FAQ.

Basel Committee Appoints Ben Gully as Secretary General

The Bank for International Settlements (BIS) announced the appointment of Ben Gully as the next Secretary General of the Basel Committee on Banking Supervision for a three-year term starting August 14, 2026. Mr. Gully, currently Deputy Superintendent at Canada's OSFI, will lead the Committee's Secretariat.

Hancock v. Martinez - Arizona Court of Appeals Decision

The Arizona Court of Appeals issued a non-precedential decision in Hancock v. Martinez. The court affirmed in part and vacated in part the lower court's order regarding parenting time, child support, and attorneys' fees, remanding for further proceedings on the attorneys' fees request.

Watkins v. Neighborhood House Charter School Foundation - Zoning Appeal

The Massachusetts Appeals Court affirmed a Superior Court decision dismissing a zoning appeal. The court found that the appellant failed to rebut the presumption of standing as an abutter. This non-precedential summary decision clarifies standing requirements in zoning disputes.

Samuel Forman v. Yulika E. Forman - Divorce and Antenuptial Agreement Case

The Massachusetts Appeals Court affirmed a lower court's decision regarding the enforceability of an antenuptial agreement in a divorce case. The court found the agreement fair and reasonable despite the husband's breaches, upholding the division of assets as per the agreement and a Memorandum of Understanding.

Flavia Benitez v. Massachusetts Bay Transportation Authority - Negligence Claim

The Massachusetts Appeals Court issued a non-precedential opinion regarding Flavia Benitez's negligence claim against the Massachusetts Bay Transportation Authority (MBTA). The court dismissed the appeal from the judgment and affirmed the denial of the plaintiff's motion for a new trial, while also addressing the denial of a motion to correct the appellate record.