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NAB to face $750M in fines from AUSTRAC and ASIC actions, analysts predict
Financial Services 2020-01-10 2:04 pm By Miklos Bolza

National Australia Bank will be hit this year with an estimated $750 million in fines stemming from its fees for no service conduct and potential […]

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High Court’s Chorley ruling dooms Tucker & Cowen partner’s costs bid
Business of Law 2020-01-10 11:30 am By Miklos Bolza

A court has slashed the costs awarded to a Tucker & Cowen name partner in a lawsuit brought by the liquidators of failed fund manager […]

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Liquidators of failed broker Berndale Capital want to grill former execs
Restructuring & Insolvency 2020-01-09 7:58 pm By Christine Caulfield

The liquidators of Melbourne-based forex trader Berndale Capital have filed examination proceedings in the Federal Court seeking to question the company’s former CEO and its […]

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Judge OKs $29M settlement in Radio Rentals class action
Class Actions 2020-01-09 1:12 pm By Christine Caulfield

A judge has given his seal of approval to a $29 million settlement that resolves a class action over Radio Rentals’ Rent, Try, $1 Buy […]

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Dover can seek access to ASIC files in bid to prove ‘Orwellian’ client protection policy harmed no one
Financial Services 2019-12-20 11:04 pm By Christine Caulfield

Defunct Dover Financial, which faces a penalty hearing next year after it was found to have misled customers with an inaptly titled ‘client protection policy’, […]

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ASIC takes Volkswagen to court for alleged car loan breaches
Financial Services 2019-12-20 10:23 pm By Christine Caulfield

Not bowed by its defeat against Westpac in a case over alleged responsible lending breaches, the Australian Securities and Investments Commission has brought action against […]

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Westpac hit with $9.15M penalty over bad advice
Financial Services 2019-12-19 3:41 pm By Cat Fredenburgh

A Federal Court judge has ordered Westpac to pay a $9.15 million penalty after one of its financial advisers breached the best interests duty by […]

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Judge tells AMP units to cooperate in superannuation class action
Class Actions 2019-12-18 7:24 pm By Miklos Bolza

A judge overseeing a consolidated class action against four AMP subsidiaries and two trustees over allegedly excessive superannuation fees has ordered the respondents to coordinate […]

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Westpac hit with first class action over AUSTRAC scandal
Financial Services 2019-12-18 1:12 pm By Cat Fredenburgh

Westpac is facing a class action on behalf shareholders in three countries over its alleged anti-money laundering and counter-terrorism financing breaches and disclosures. Phi Finney […]

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NAB faces ASIC wrath with second fees for no service case
Financial Services 2019-12-17 11:49 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has taken legal action against National Australia Bank alleging thousands of violations of the law through its fees for […]

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