Sera Mirzabegian

The lead applicant in a class action against CBA does not have the right to view fund management documents relevant to the case despite representing group members who share joint privilege with the bank over material, a judge has said, acknowledging the decision could create difficulties in class action proceedings.

Two Commonwealth Bank of Australia subsidiaries have denied that they owed fiduciary duties to group members in a class action over allegedly excessive insurance premiums pushed onto customers because of commissions and other benefits to financial advisors.