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Payday lender Cigno faces possible predatory lending class action
Class Actions 2020-04-16 2:53 pm By Cat Fredenburgh

Cigno is facing a possible class action over alleged predatory lending practices that were banned by the Australian Securities and Investments Commission last year, one […]

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Payday lender Cigno loses challenge to ASIC ban on short-term credit lending
Financial Services 2020-04-15 3:20 pm By Christine Caulfield

Payday lender Cigno has lost a challenge to the corporate regulator’s first action under powers to prohibit ‘predatory’ financial products that targeted its model of […]

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Former AMP general counsel says document claim ‘tantamount to extortion’
Employment 2020-04-08 1:48 pm By Miklos Bolza

A former general counsel who claims she was sacked from AMP after raising concerns about its fees for no services conduct has struck back at […]

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ASIC brings action against Mayfair 101 for ‘misleading’ advertising
Financial Services 2020-04-06 10:15 pm By Christine Caulfield

The Australian Securities and Investments Commission has launched proceedings against investment firm Mayfair 101 Group and Mayfair Platinum accusing them of misleading advertising. In a […]

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Citing coronavirus, judge orders limited discovery in ANZ, Westpac ‘junk’ insurance class actions
Class Actions 2020-04-03 11:18 pm By Christine Caulfield

Noting the challenge of searching for documentary evidence while employees are working from home, a judge overseeing two consumer class actions against ANZ and Westpac […]

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Real estate agents in ASIC’s crosshairs over super advice to tenants
Financial Services 2020-04-03 9:45 pm By Cat Fredenburgh

Real estate agents advising tenants who may be unable to pay their rent to draw down their superannuation have raised the ire of the Australian […]

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Sparke Helmore says it should have to pay no more than $7.6M of IOOF judgment
Appeals 2020-04-03 9:24 pm By Alison Eveleigh

Sparke Helmore has admitted that legal advice it provided to IOOF subsidiary Australian Executor Trustees was inadequate but has argued it should be responsible only […]

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Judge OKs notice in Westpac class action foreshadowing ‘expense sharing order’
Class Actions 2020-04-02 10:51 pm By Christine Caulfield

A judge has approved a notice in a class action against Westpac alerting group members that an “expense sharing order” will be sought by the […]

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Sparke Helmore equally responsible for $76M judgment against IOOF unit, court hears
Appeals 2020-04-02 10:37 pm By Alison Eveleigh

Sparke Helmore is equally responsible for a $76.6 million judgment against IOOF subsidiary Australian Executor Trustees over the sale of a timber plantation by collapsed […]

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AUSTRAC, Westpac still locked in settlement negotiations, court hears
Financial Services 2020-03-30 9:51 pm By Alison Eveleigh

Westpac is still locked in mediation with AUSTRAC over allegations that it committed over 23 million breaches of anti-money laundering and counter-terrorism financing laws, with […]

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