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KPMG hits back at Phoslock shareholder class action
Securities 2025-07-16 11:52 pm By Cindy Cameronne

Auditor KPMG has hit back at a shareholder class action over water treatment business Phoslock’s alleged accounting irregularities, saying it should be completely relieved from paying damages since it acted honestly. 

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ASIC opposes late evidence in novel case over CFDs
ASIC 2025-07-16 11:59 pm By Cindy Cameronne

ASIC has opposed a bid by online investment platform eToro to rely on late expert evidence in the regulator’s first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.

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BBY chairman Glenn Rosewall latest to face charges
White Collar 2025-07-15 11:14 pm By Christine Caulfield

The former chairman of BBY has been charged with aiding and abetting dishonest conduct while head of the board at the defunct stockbroking firm.

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Berndale Capital director jailed after admitting to misuse of funds
Financial Services 2025-07-15 11:51 pm By Christine Caulfield

A former director of collapsed Melbourne derivatives broker Berndale Capital Securities will spend a year in jail after pleading guilty to offences connected to his misuse of company funds.

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Payday lenders BSF, Cigno lose appeal in ASIC case
Financial Services 2025-07-10 10:07 am By Cindy Cameronne

Payday lenders BSF Solutions and Cigno have lost an appeal in action by ASIC alleging they engaged in unlicensed credit activity and charged prohibited fees, in the case’s second run up to the Full Federal Court.

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Grant Thornton partner admonished for iSignthis audit review
Financial Services 2025-07-10 11:25 pm By Sam Matthews

A Grant Thornton partner has been admonished for failing to properly review the firm’s audit of the 2018 financial statements of delisted fintech iSignthis, in a promising turn for a recently filed class action.

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ASIC bans advisers for directing clients to Keystone’s Shield Master fund
Financial Services 2025-07-09 11:22 pm By Christine Caulfield

Two financial advisers who allegedly recommended a failed fund linked to Keystone Asset Management have been disqualified by the corporate cop.

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In ANZ class action, court approves third settlement GCO without altering rate
Class Actions 2025-07-07 11:57 pm By Cindy Cameronne

In the third decision approving an unaltered group costs order at the resolution of a class action, a judge has OK’d an $85 million settlement by ANZ, representing a $21 million payday for Maurice Blackburn.

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AMP hit with another class action over ‘inflated’ insurance premiums
Class Actions 2025-07-03 12:10 pm By Cat Fredenburgh

AMP is facing a new class action alleging certain superannuation fund members were hit with inflated premiums over a five-year period, after arguing a similar matter was “in search of a case” more than four years after being filed. 

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Mastercard slams ACCC’s novel push for communications with lawyers
Competition & Consumer Protection 2025-07-03 11:41 pm By Cindy Cameronne

Mastercard has pushed back on the ACCC’s argument that it waived privilege over communications with lawyers, saying it would “take the law of waiver to a place it has never been before”.

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