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Compliance Corner: Hong Kong, Israel, Others

Editorial Staff

20 November 2020

Hong Kong, Israel
The issued proceedings against Theta and Marie on 11 December 2019. Theta and Marie admitted the contraventions in a Statement of Agreed Facts and Admissions filed with the court, along with joint submissions for declarations, civil penalties and the disqualification order to be imposed, ASIC said in a statement earlier this week. 

The statement said that in handing down his judgment, the Hon Justice McKerracher noted that the circumstances involved “catastrophic losses” sustained by investors.  

“The Federal Court outcome sends an important deterrent message to other responsible entities, as well as to those entrusted to act as gatekeepers, to ensure they comply with their legal obligations,” ASIC Commissioner Cathie Armour said.