An email to lawyers at Clifford Chance relied on to show investor Fiona Lock’s understanding of a contested $150 million profit sharing deal with trading platform Pepperstone did not open the door to further correspondence.
The corporate cop has found “widespread” compliance plan failures in the managed investment fund industry, and says it is investigating some fund managers for potential breaches.
ASIC has succeeded in overturning a decision that found that Qoin issuer BPS Financial came within the authorised representative exemption with respect to agreements with Australian financial services licence holder PNI.
The corporate watchdog has brought proceedings against the former director of collapsed cryptocurrency exchange platform Blockchain Global for alleged violations of his directors duties.
A class action against online trading platform IG Markets over alleged risky contracts for difference has dropped its conflicted remuneration claims after the court heard it was struggling to find a sample group member.
On the first day of a seven-week class action trial, a judge has heard that AMP Superannuation failed to renegotiate interest rates with AMP Bank for up to 12 years, despite investing as much as $2 billion in customers’ superannuation with the bank.
A judge has dismissed a class action against ex-CBA unit Count Financial alleging that it breached it duty to act in clients’ best interests and ensure adviser remuneration was free of conflict.
Insurer Marsh has fired off a cross-claim against Swiss bank UBS in several cases brought over Greensill’s $1.7 billion collapse.
ASIC has asked a court to hit Westpac with a $30 million penalty for IT failures which caused financial hardship applications to be ignored, conduct a judge has described as “shocking” and “truly scandalous”.
A Federal Court judge has criticised HSBC for failing to comply with court orders in the corporate cop’s case alleging the bank failed to protect customers from scams.