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Dairy cooperative Murray Goulburn has launched proceedings against AIG Australia seeking to recover 20 per cent of a $42 million class action settlement it paid, plus the legal costs of defending two class actions.
The Australian arm of global financial solutions provider Pershing faces sentencing after pleading guilty to criminal offences of mishandling client funds.
Investigations by ASIC led to prosecutors laying 279 criminal charges in the last six months of 2019, an increase of 300 percent on the previous six months, the corporate watchdog's latest report reveals.
The High Court has agreed to hear a challenge by Westpac to a ruling in favour of ASIC that found the bank violated its duty to act in customers' best interests during a superannuation rollover campaign, a case that could clarify the line between personal and general financial advice.
A court has upheld two decisions by the Australian Government Takeovers Panel that a bid by asset manager Aurora Funds Management to replace Molopo Energy's directors was made in "unacceptable circumstances".
Defunct financial adviser Dover Financial has sued three separate law firms for allegedly negligent advice over a 'client protection policy' that the Federal Court found was misleading, deceptive and an "exercise in Orwellian doublespeak".
A judge has issued a temporary injunction limiting how Mayfair 101 can promote two of its investment products, in proceedings brought by ASIC accusing the investment firm of misleading and deceptive advertising.
The Australian Securities and Investments Commission has taken action on another banking royal commission case study, filing court proceedings against insurer Youi for allegedly taking two years to settle a home owner's hail storm claim.
Payday lender Cigno has lost a challenge to the corporate regulator's first action under powers to prohibit 'predatory' financial products that targeted its model of short-term credit lending.
A judge has refused to delay a civil penalty hearing brought by ASIC against GetSwift, scheduled to begin in June, after the logistics company argued that the virtual hearing necessitated by the COVID-19 pandemic would be prejudicial and the proceedings should be adjourned.