Corrs Chambers Westgarth has continued its hiring spree, luring a financial services regulatory specialist from Herbert Smith Freehills.
Two law firms accused of providing negligent advice to Dover Financial over a so-called client protection policy found to be “highly misleading” have argued the defunct financial advisor should not be able to recover the $1.2 million penalty it was ordered to pay.
Investors in collapsed stockbroker Halifax Investment Services have failed to overturn decisions in Australia and New Zealand relating to the date of realisation of their investments which have decreased the amount they can recover in the company’s liquidation.
ASIC has flagged it may take regulatory action against super fund executives and directors for switching personal investment options using insider information.
A former Morgan Stanley financial adviser has launched a lawsuit against the investment banking giant, alleging its negligence led to psychological strain so severe it rendered her permanently unfit for her job.
Asset manager Aurora Funds has won its bid to toss a demand by law firm Piper Alderman for $119,335 in allegedly unpaid legal fees, with a judge finding the terms of a settlement deed between the parties may operate as a “penalty” for defaulting on payments.
The corporate regulator has brought proceedings against the former boss of defunct Freedom Insurance and another executive over an insurance sales program that incentivized sales agents with overseas holidays and a Vespa scooter.
A judge has extended by a week a freezing order over the assets of ISignthis CEO John Karantzis in a dispute with the Australian Taxation Office over a $10.7M alleged tax debt, but a bid to extend the scope of the order to include shares in a Cyprus-based company launched by the fintech businessman has failed for now.
Payments provider Tyro has been hit with a class action over a days-long terminal outage that left many businesses unable to accept payments.
The Federal Court has issued an arrest warrant for Forum Finance founder Bill Papas for contempt of court for allegedly transferring $720,000 out of one of his companies in breach of a freezing order.