Companies

Westpac is facing its first shareholder class action in the US following revelations that it violated anti-money laundering and counter-terrorism finance laws on more than 23 million occasions, in the first lawsuit to point the finger at the company's executives.

Optus has paid a record $504,000 fine for violating spam laws by sending SMS and email messages to customers that had previously unsubscribed from the telco's giant's marketing communications.

ANZ is seeking information on whether the ACCC put pressure on ASIC to not pursue proceedings against JP Morgan over a $2.5 billion share placement that is at the centre of a closely watched criminal cartel case, saying the matter raised a "serious question" about potential abuse of power by the regulators.

A US-based plaintiffs firm is planning a class action against Westpac alleging it failed to alert investors to significant lapses in its anti-money laundering and counter-terrorism finance compliance, which led to a bombshell lawsuit by AUSTRAC last year.

A former Adelaide financial advisor that worked for a subsidiary of National Australia Bank has lost his bid for a temporary stay of a five-year ban for allegedly recommending that clients invest in failed fintech start-up Bux Global, after arguing the bad publicity could negatively affect the impending sale of his business.

A judge is expected to issue a temporary injunction Thursday barring Facebook and Instagram from blocking users who are customers of a Melbourne-based social media startup that has accused the companies of trying to quash competition.

A year after Commissioner Kenneth Hayne released his scathing report, companies in the financial services sector are still facing fresh class actions over conduct aired at the banking royal commission, and the pace has even picked up in recent months.

The owner of a Melbourne-based dermatology clinic has come out on top in a battle with Johnson & Johnson over a trade mark for creams and cosmetic products.

Crown Resorts has successfully challenged a ruling allowing law firm Maurice Blackburn to communicate with 18 formerly jailed employees to gather evidence in its shareholder class action against the casino giant.

Two National Australia Bank units have been hit with a class action alleging they violated their duties as superannuation trustees by allegedly failing to transfer members to funds with lower fees.