The Australian Securities and Investments Commission has won its case against defunct financial advisor Dover Financial and its former director, who famously collapsed during the banking royal commission, with a judge saying the company engaged in misleading and deceptive conduct through its inaptly titled ‘client protection policy’.
The National Australia Bank and insurer MLC have agreed to pay $49.5 million to settle a class action over allegedly worthless credit card insurance.
The hearing for a class action against National Australia Bank over allegedly worthless credit card insurance will focus on whether the bank’s allegedly unconscionable behaviour in selling these policies was systemic or confined to individual cases.