CBA unit faces MySuper class action over delayed $3.2B funds transfer

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Class Actions October 17, 2019 1:03 pm By Amelia Birnie

Commonwealth Bank subsidiary Colonial First State and former director Linda Elkins face a class action alleging the wealth management group breached its superannuation trustee duties by failing to promptly transfer $3.2 billion of default members’ funds to a lower-cost, high-performing product.

APRA won’t appeal loss in IOOF case
Financial Services October 17, 2019 5:08 pm By Cat Fredenburgh

The Australian Prudential Regulation Authority will not challenge a Federal Court ruling that dismissed its case against fund manager IOOF as “unpersuasive”, “fundamentally inadequate” and “tenuous in the extreme”.

a2 Milk loses another trade mark opposition as high-stakes appeal looms
Intellectual Property October 17, 2019 4:33 pm By Cat Fredenburgh

The a2 Milk Company has come up short again in opposing a competitor’s bid to register a trade mark containing “a2”, with a delegate finding the reputation of its goods does not lie in the descriptive term a2 alone.