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AMP wins bid to shield emails in $35.5M poaching dispute
Software company DST Bluedoor has lost its bid to access communications between its former founding director and AMP in a $35.5 million lawsuit accusing the financial services company of inducing 11 DST employees to jump ship after licensing its online platform.
ACCC’s approval of BPAY, Eftpos, New Payments Platform merger faces challenge
A challenge to the ACCC's approval of the merger of major payment platforms BPAY, Eftpos and New Payments Platform Australia has been challenged by a Sydney-based fintech, which has accused NPPA of patent infringement.
ACCC officers face pre-trial grilling in ANZ cartel case as judge questions need for committal
Five enforcement officers of the Australian Competition and Consumer Commission will be cross-examined by lawyers for banks facing price fixing charges over their conduct following ANZ's $2.5 billion capital raising six years ago.
ASIC strips embattled accountant Vanda Gould of financial services licence
The Australian Securities and Investments Commission has cancelled the licence of embattled former accountant Vanda Gould.
CBA’s Colonial agrees to $20M penalty for misleading MySuper statements
The Commonwealth Bank’s wealth management unit has agreed to cough up $20 million in penalties for misleading thousands of fund members during the transition to MySuper accounts, but steadfastly maintains its conduct was not part of a “nefarious” plot for profits.
NAB faces re-trial in adverse action case by worker who committed data breach
A former financial planner found to have engaged in a data breach at National Australia Bank will have her adverse action lawsuit against the bank partially reheard after an appeals court found the judge who tossed the case failed to properly consider why she was fired.
‘Arrogant’ barristers in Banksia class action struck off roll, face criminal probe
Lawyers running the scandal-ridden Banksia class action have been struck from the roll of practitioners, will face criminal investigation and must pay group members $11.7 million in damages.
ASIC takes superannuation trustee Diversa to court
The Australian Securities and Investments Commission has launched court proceedings against superannuation trustee Diversa for allegedly failing to take appropriate action in response to a financial advisor who was under investigation.
FWO alleges Commonwealth Bank ‘knowingly’ underpaid staff $16.4M
The Fair Work Ombudsman has taken the Commonwealth Bank of Australia and CommSec to court for allegedly knowingly underpaying almost 7,500 employees over $16.4 million through the use of individual agreements.
Government can’t dodge sovereign bonds climate change class action
A climate change activist can continue her lawsuit alleging the federal government failed to disclose the impact of climate change to investors in sovereign bonds, with a court rejecting the Commonwealth’s strike-out application.