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Regulation

Builton failure a costly housing hit

The collapse of yet another Western Australian residential builder appears set to further upset the delicate state of the sector, with financiers, insurers, 350 trade creditors and as many as 130 home owners facing losses.

Diploma unable to start new jobs

The Building Commission's Building Services Board has imposed conditions on two Diploma Group subsidiaries, limiting their ability to carry out work, after the parent company fell into the hands of administrators just before Christmas.

$45,000 fine for Osborne Park builder

An Osborne Park-based building company and its nominated supervisor have been fined a combined $45,000 for negligent work that led to the roof of one house blowing off and another being badly damaged during a storm.

Kameleon Homes owner fined for conduct

A now de-registered Perth-based builder has been fined $15,000 and ordered to pay $3,200 in costs after he was found to have engaged in deceptive conduct.

ASX queries Padbury's $106m raising plans

Padbury Mining has again attracted regulatory attention, with the company acknowledging it should have notified the ASX when it negotiated potential capital raisings worth $106 million with a Hong Kong-based investor last year.

Roe 8 opponents lose Federal Court bid

The environmental group trying to stop work on the state government’s Roe 8 project has been refused an interim injunction on construction by the Federal Court, but has vowed to keep fighting.

ACCC opposes WA Fifo alliance

The competition watchdog said today it planned to deny authorisation to a proposed partnership between Virgin Australia Holdings and Alliance Aviation Services because it would lessen competition in the West Australian market.

Asic has partial win over WA director

The 12-year old scandal over the Australian Wheat Board’s payments to the government of Iraq has moved closer to final resolution, with its former chairman Trevor Flugge convicted today of breaching his duties as a director but cleared of more serious charges concerning his knowledge of the payments.

Banished finance broker’s appeal denied

A former Get Approved Finance broker has had his appeal denied after a tribunal backed an earlier decision to permanently ban him from the industry.

Asic bans Perth mortgage broker

The Australian Securities and Investments Commission has permanently banned a former Perth-based finance broker after finding he had engaged in misleading conduct.

Company founder hit by injunction

Interior design firm Habitat1 has secured a Supreme Court injunction against its founder, Christian Formby, after he sought to transfer its domain name to a new company and set up a business called Habitat Interiors.

Murphy labels Nalder's actions 'not reasonable'

The auditor general says former transport minister Dean Nalder’s decision to withhold information from parliament about his proposed Max Light Rail project was unreasonable, as the details were already in the public domain.

Fortescue's Solomon extension plans get EPA nod

The Environmental Protection Authority has recommended approval of Fortescue Metals Group’s proposed extension plans at its Solomon iron ore operations near Tom Price, subject to a number of strict conditions.

Asic starts proceedings against State One

The Australian Securities and Investments Commission has launched civil proceedings against Perth-based State One Stockbroking, and in a separate matter has accepted undertakings from two liquidators employed by Melsom Robson.

Gold Road’s Gruyere gets EPA tick

Aspiring gold miner Gold Road Resources has received the Environmental Protection Authority’s nod of approval for its proposed development of its $507 million Gruyere project near Laverton.

Inquiry launched into payment times

The recently appointed Australian small business and family enterprise ombudsman has launched an inquiry into the payment practices of big businesses and governments across Australia.

Macmahon adds to CEO salary cuts

Macmahon Holdings has unveiled the remuneration package for new chief executive Michael Finnegan, adding to a trend in the contracting sector for lower base salaries but greater potential for bonuses.

Asic bans Perth insurance broker

The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial services after finding he had redirected $254,000 worth of clients’ funds into his own accounts.

Cash Converters to pay $12m after Asic probe

Perth-based Cash Converters International has agreed to refund $10.8 million to customers and pay a $1.3 million fine after enforceable undertakings were accepted by the corporate watchdog.

New ASX listing rules chiselled in

The Australian Securities Exchange has softened the changes to its listing requirements for companies wishing to trade on the stock market, with the new rules to take effect from next month.

Agents exposed for deceitful deals

A former York real estate agent has lost his licence and his son is facing further penalties after the State Administrative Tribunal upheld allegations they pocketed $6 million from deceitful and misleading land deals.

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