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.
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.
Two financial advisers who allegedly recommended a failed fund linked to Keystone Asset Management have been disqualified by the corporate cop.
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.
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.
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”.
AUSTRAC has ordered an external audit of international funds company Western Union after sounding the alarm about its compliance with anti-money laundering regulations.
A judge has said an 11-day trial in ASIC’s case against Solve My Debt Now will go ahead in December despite a third set of solicitors ceasing to act and no sign that the debt management firm will put on evidence.
Stockbroking firm Ord Minnett has overturned a judgment finding it owed years of wages and other entitlements to a wealth adviser who was only paid in commissions.
The corporate regulator says defunct forex broker Union Standard and its agents should be hit with $300 million in penalties for their tactics in pressuring customers to trade in risky financial products.