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AMP boss blames class actions for increasing cost of financial advice
Class Actions 2020-06-30 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 2020-06-30 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 2020-06-26 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 2020-06-26 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 2020-06-25 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 2020-06-25 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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Ex-Beem It boss sacked for blowing whistle on CBA conflicts over proposed sale, suit says
Employment 2020-06-25 11:00 am By Christine Caulfield

The former CEO of Commonwealth Bank subsidiary Beem It was dismissed for blowing the whistle on multiple conflicts of interest by directors of the digital […]

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ISignthis seeks $27M in damages from ASX
Article 2020-06-23 10:02 pm By Cat Fredenburgh

ISignthis is ramping up its battle against the ASX, seeking court approval to amend its lawsuit against the exchange to seek more than $27 million […]

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ASIC takes action against CBA over banned super payments
Financial Services 2020-06-23 3:51 pm By Alison Eveleigh

The Australian Securities and Investment Commission has launched proceedings against the Commonwealth Bank of Australia and its subsidiary Colonial First State Investments over the alleged […]

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Binary options trader hit with $1.8M penalty for ‘systemic’ exploitation
Financial Services 2020-06-18 4:10 pm By Cat Fredenburgh

A Marshall Islands-based binary options trader has been hit with a $1.8 million penalty after a judge found it engaged in the “deliberate deception of […]

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