Regulatory Alerts2025-10-16
Federal Court dismisses ASIC’s claims against former Freedom Insurance director and consultant
The Federal Court dismissed ASIC’s claims that Keith Cohen and Robert Oayda unlawfully participated in Freedom Insurance’s sales incentive programs or breached directors’ duties. The Court rejected allegations that the defendants prioritized insurance sales over customer needs in contravention of conflicted remuneration laws. Although the initial judgment was delivered in October 2025, ASIC filed a notice of appeal in November 2025 against the dismissal and associated costs orders.
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