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ASIC’s proposed $40M fee disclosure penalty ‘manifestly excessive’, NAB tells court
Financial Services 2021-06-18 10:08 pm By Christine Caulfield

National Australia Bank has urged a court to impose a $15 million penalty for its five-year failure to adequately disclose its adviser fees, and has […]

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ASIC seeks $40M penalty against NAB over inadequate fee disclosures
Financial Services 2021-06-17 3:06 pm By Christine Caulfield

National Australia Bank has admitted in court it broke the law by charging fees it was not entitled to collect, but the bank and the […]

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Westpac attacks ASIC ‘junk’ insurance case, says customers agreed to take out cover
Financial Services 2021-06-10 12:26 pm By Miklos Bolza

Westpac has shot back at a lawsuit brought by ASIC over the selling of alleged poor value insurance products, with the bank saying its customers […]

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OTC trader wins more time to respond to ASIC’s 2,000-page pleading
ASIC 2021-05-13 3:32 pm By Miklos Bolza

A judge has granted OTC trader EuropeFX more time to file its defence to an 80-page statement of claim and over 2,000 pages of particulars […]

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Judge ‘bereft’ of power to vary $138M IAG settlement to allow late opt outs
Insurance 2021-04-23 5:07 pm By Miklos Bolza

A $138 million class action settlement with IAG over alleged junk insurance will go ahead after a judge found he was “bereft” of power to […]

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Late opt outs imperil $138M IAG ‘junk insurance’ class action settlement
Class Actions 2021-03-12 4:43 pm By Miklos Bolza

A group of late opt out notices by group members in a class action over IAG insurance, who were egged on in part by a […]

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Judge OKs IAG class action settlement, rejects funder’s bid to recoup insurance
Class Actions 2020-12-17 3:01 pm By Christine Caulfield

A judge has signalled his intention to sign off on a $138 million settlement in a class action against IAG and approve a common fund […]

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Concerns about courts wading into funding commission rates ‘exaggerated’, judge says
Class Actions 2021-01-29 10:08 pm By Christine Caulfield

Concerns behind criticism that courts aren’t equipped to assess a class action funder’s commission are exaggerated, and the fixing by judges of reasonable remuneration, at […]

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Rio Tinto execs’ trial can wait until COVID-19 vaccine, court hears
Coronavirus 2020-11-23 10:32 pm By Spencer Fowler Steen

A former Rio Tinto executive living in the US who wants to appear in person at an upcoming trial in a case brought by ASIC […]

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Litigation funder wins appeal over security for costs in Fair Work class actions
Employment 2020-11-10 2:25 pm By Christine Caulfield

Litigation funder Augusta Ventures has won its challenge to a landmark ruling that it pay $3.1 million in security for the costs of two Fair […]

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