ASIC Ordered to Pay James Mawhinney’s Costs for Regulator’s Failed Attempt to Bring a New Case
The Federal Court of Australia has ordered the Australian Securities and Investments Commission pay Mayfair 101 Managing Director James Mawhinney’s legal costs after a failed attempt by the regulator to make a new case against him.
The costs order follows Justice O’Callaghan’s decision last month to reject ASIC’s attempt at introducing new penalties directed at Mr Mawhinney which were previously not sought when the regulator first issued proceedings in August 2020.
The original ASIC-initiated proceeding VID524/2020 resulted in a 20-year ban of Mr Mawhinney dealing in fin
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