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Ex-NAB financial adviser charged with fraud over alleged theft of clients’ money
Financial Services April 18, 2019 10:33 pm By Christine Caulfield

A former NAB financial adviser has been charged with fraud after allegedly impersonating clients and stealing $166,5oo from their accounts, the Australian Securities and Investments […]

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Ex-Aussie Home Loan boss can’t escape $1M ruling that he duped Adcock Private Equity
Securities April 17, 2019 2:45 pm By Christine Caulfield

Former Aussie Home Loans boss Stephen Porges has lost an appeal of a judgment ordering him to pay more than $1 million to a private […]

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Citigroup agrees to $3M refund after ASIC raised ‘personal advice’ concerns
Financial Services April 15, 2019 10:58 pm By Cat Fredeburgh

Citigroup has agreed to refund $3 million to 114 customers that suffered losses stemming from investments in complex financial products, after ASIC raised concerns that […]

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IOOF dismisses ‘speculative’ shareholder class action
Class Actions April 12, 2019 11:34 pm By Cat Fredenbugh

Wealth manager IOOF has dismissed a shareholder class action lawsuit related to allegations of misconduct aired at the Banking Royal Commission, calling it “speculative and […]

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ACCC brings criminal cartel charges against money transfer business
Competition & Consumer Protection April 11, 2019 9:12 am By Cat Fredenburgh

The Australian Competition and Consumer Commission has brought criminal cartel charges against a money transfer business and five individuals for allegedly fixing the foreign exchange […]

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ALRC to tackle ‘comprehensive’ review of corporate crime laws
White Collar April 10, 2019 9:54 pm By Catherine Fredenburgh

Months after submitting its final report on the country’s class action regime, the Australian Law Reform Commission has been tasked with undertaking a “comprehensive” review […]

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Judge can’t be mediator too, court says in ex-Macquarie advisers’ wage case
Employment April 10, 2019 9:26 pm By Christine Caulfield

A judge has refused a bid by Macquarie Bank and a group of former financial advisers to preside over a mediation of their spat over […]

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CBA customers offered $9.3M for bad financial advice
Financial Services April 10, 2019 2:38 pm By Cat Fredenburgh

The Commonwealth Bank of Australia has offered $9.3 million since 2014 to customers that suffered loss when advisers in two of its financial planning units […]

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Charges still not finalised in groundbreaking ANZ criminal cartel case
Competition & Consumer Protection April 9, 2019 11:05 am By Miklos Bolza

Charges in the criminal cartel case against ANZ, Citigroup and Deutsche Bank over a $2.5 billion ANZ institutional share placement have yet to be finalised, […]

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ANZ mulled repricing controversial $2.5B capital raising, ASIC claims
Securities April 8, 2019 10:17 pm By Christine Caulfield

ANZ Bank executives briefly considered relaunching and repricing a botched $2.5 billion equity capital raising at the heart of two groundbreaking enforcement actions, and the […]

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