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S&P settles Lifeplan class action over CDOs ratings
Class Actions 2018-02-20 12:39 pm By Cat Fredenburgh

S&P Global Ratings has reached a settlement in an Australian class action by investors who bought collateralised debt obligations rated healthy by the U.S. credit […]

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ANZ fined $5M over lending practices
Competition & Consumer Protection 2018-02-16 11:44 am By Cat Fredenburgh

A Federal Court judge in Melbourne has slapped Australia and New Zealand Banking Group with a $5 million fine for failing to properly vet customers’ […]

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New law targets predatory credit card lending
Competition & Consumer Protection 2018-02-16 10:13 am By Cat Fredenburgh

A new bill that will crack down on predatory credit card lending practices sailed through Parliament on Thursday, the first reforms to pass in the […]

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Royal Bank of Scotland settles class action at 11th hour
Securities 2018-02-15 4:03 pm By Cat Fredenburgh

The Royal Bank of Scotland has reached a settlement in a consumer protection class action on the eve of trial in the Federal Court. The […]

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Financial complaints watchdog set for 2018 launch
Financial Services 2018-02-15 1:21 pm By Cat Fredenburgh

Australian consumers will soon be able to lodge complaints about banks and other financial institutions with a newly established body overseen by the securities regulator. […]

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Judge OKs $100M in rate-rigging settlements
King & Wood Mallesons 2017-11-10 10:58 pm By Cat Fredenburgh

A Federal Court judge on Friday signed off on $100 million in settlements between Australia’s securities regulator and National Australia Bank and Australia & New […]

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Citibank repays cardholders $4.3M
Financial Services 2017-11-09 12:51 pm By Cat Fredenburgh

Citibank will provide refunds of $3.3 million to credit card customers for failing to refund them when their credit card accounts were closed with an […]

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ASIC wins $1M in first fine for breach of best interests
Competition & Consumer Protection 2017-10-30 9:38 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has won a $1 million penalty against a financial advice firm for breaching the so-called best interest duty, the […]

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ASIC, banks delay rate rigging trial again as talks continue
Competition & Consumer Protection 2017-10-25 11:06 am By Cat Fredenburgh

The trial against three of Australia’s biggest banks over alleged interest rate rigging was pushed back again on Wednesday after lawyers for National Australia Bank […]

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Corporate penalties to triple under new proposal
News 2017-10-24 12:36 pm By Cat Fredenburgh

The Australian Securities and Investments Commission could get more teeth under a new proposal by a Turnbull government taskforce released Tuesday, with penalties for corporate […]

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