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Regulation

Fortescue fined for water spill

Iron ore miner Fortescue Metals Group has paid a $25,000 fine to the Department of Environment Regulation over a discharge accident in 2015.

Former AWB chair Flugge fined $50,000

Former Australian Wheat Board chairman Trevor Flugge has been fined $50,000 and barred from managing corporations for five years, after he was convicted in December of breaching his duties as a director while the company was making questionable payments to the government of Iraq.

Indiana fights takeover play

Bronwyn Barnes has been appointed the new chair of West Perth-based Indiana Resources, on the same day the company went to the Takeovers Panel to fight attempts by a group of shareholders to oust existing directors.

Steven Noske guilty of insider trading

Perth business executive Steven Noske faces the possibility of a gaol term after being found guilty and convicted on one count of insider trading in takeover target Westside Corporation.

Audit finds minor non-compliance at Roe 8

An environmental audit on the cancelled Roe 8 highway extension project has found just one minor area of non-compliance in the implementation of management plans by the project’s proponents.

Directors to get safe harbour during insolvency

The federal government has introduced draft insolvency reforms designed to offer more protection for company directors and make it easier to restructure faltering businesses.

Quintis stands firm on ASX queries

Quintis temporarily put the brakes on its falling share price by entering into a trading halt this morning, as it compiled a lengthy response to queries raised by the ASX.

Court rejects Mesa shareholder claims

A major shareholder in failed manganese company Mesa Minerals has lost its bid to have administrators replaced after the Supreme Court ruled there was no evidence of bias between Pitcher Partners and Mesa’s largest stakeholder, Mineral Resources.

KPMG called into Macro as liquidators

The corporate regulator has asked the Federal Court to appoint representatives of KPMG as liquidators of several subsidiaries of Pilbara-based property developer Macro Group.

ACCC concerned about South32 coal assets deal

The competition watchdog has raised concerns over South32’s proposed $US200 million acquisition of Peabody Energy Corporation’s Metropolitan Colliery in NSW, on the grounds that it may lessen competition in the region.

Worner cleared as ASA calls for better communication

The Australian Shareholders’ Association has called for companies to do a better job of communicating with their shareholders, following the resignation of a Seven West Media director on the eve of today's report on misconduct allegations against chief executive Tim Worner.

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.

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