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Westpac owes $8M to underpaid workers
Employment July 3, 2020 11:35 pm By Cat Fredenburgh

Westpac has become the latest company to discover it shortchanged workers, announcing it will pay $8 million to around 8,000 current and former staff who […]

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Bank trader claims ANZ sacked him for rate-rigging complaints
Employment July 2, 2020 10:44 pm By Christine Caulfield

A former high-flying trader is taking ANZ to court alleging the bank dismissed him for making complaints about attempted manipulation of a key interest rate and not, as the bank claims, for his “offensive” chats with other traders.

‘The scheme has failed’: Court appoints provisional liquidators to Mayfair’s IPO Wealth
Financial Services July 2, 2020 12:46 pm By Miklos Bolza

A court has appointed provisional liquidators to the IPO Wealth Group, rejecting claims by the firm’s sole director that the move would severely damage his reputation and that of the wider Mayfair group.

Société Générale Australia pleads guilty to client money offences
Financial Services July 1, 2020 2:05 pm By Alison Eveleigh

An Australian arm of French banking powerhouse Société Générale has pleaded guilty to client money offences, after it reported to the Australian Securities and Investment […]

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AMP boss blames class actions for increasing cost of financial advice
Class Actions June 30, 2020 11:17 pm By Christine Caulfield

AMP’s chief executive Francesco De Ferrari has gone on the offensive against class actions in Australia, saying litigation funders were driving up the cost of […]

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Mayfair 101 founder denies troubled fund a Ponzi scheme
Financial Services June 30, 2020 4:26 pm By Miklos Bolza

The embattled founder of Mayfair 101 investment group has denied allegations that its $80 million IPO Wealth fund is a failed Ponzi scheme as he […]

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Former Liberal senator Julian McGauran sues Mayfair 101 over $1M investment
Financial Services June 26, 2020 6:20 pm By Christine Caulfield

Already facing action by the corporate regulator for alleged misleading and deceptive conduct and a potential class action, investment firm Mayfair 101 must now defend […]

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ASIC loses appeal in responsible lending case against Westpac
Financial Services June 26, 2020 12:06 pm By Christine Caulfield

The Australian Securities and Investments Commission has failed in a high-profile challenge to a ruling for Westpac in its responsible lending case against the bank, […]

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Corporate insolvency partner scores partial win on appeal in breakup spat
Restructuring & Insolvency June 25, 2020 5:29 pm By Miklos Bolza

A challenge to a judgment which found that one partner of a corporate insolvency firm “ambushed” the other to leave the business has been partially […]

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Ashurst documents show ANZ knew about illegal fees, ASIC says
Financial Services June 25, 2020 5:25 pm By Miklos Bolza

Ashurst notified Australia and New Zealand Banking Group almost a decade ago about issues relating to its illegal fees, ASIC has told the Federal Court […]

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