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Blue Sky settles case against former directors over alleged raid on database
Financial Services 2019-07-22 3:53 pm By Christine Caulfield

Blue Sky Alternative Investments has reached a confidential settlement of its case against three former directors and two investment firms over an alleged raid on […]

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Fitch settles investor class action over credit ratings on toxic SCDOs
Exclusive 2019-07-19 10:56 am By Christine Caulfield

Fitch Ratings has agreed to settle the last of the investor class actions in Australia flowing from the global financial crisis, a court heard Friday. […]

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ASIC wants ban on unsolicited insurance sales calls
Insurance 2019-07-18 4:03 pm By Amelia Birnie

The corporate watchdog has proposed a complete ban on unsolicited telephone sales of life insurance and consumer credit insurance, as an urgent placeholder ahead of […]

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Liquidator admits ‘significant deficiencies’ and agrees to 10-year ban
Restructuring & Insolvency 2019-07-17 10:07 pm By Miklos Bolza

Veritas Advisory liquidator David Iannuzzi has admitted to “quite significant deficiencies” in his conduct as a liquidator and agreed to a 10-year ban from serving […]

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APRA to get new super powers to crack down on rogue funds
Financial Services 2019-07-17 7:09 pm By Amelia Birnie

The Australian Prudential Regulation Authority will be given a raft of new disqualification powers over inappropriate directors and senior executives, after a report criticised the […]

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IOOF CFO slams disqualification case as ‘egregious’ example of impulsive enforcement
Financial Services 2019-07-16 5:12 pm By Amelia Birnie

Lawyers for IOOF chief financial officer David Coulter have dismissed APRA’s allegations that he breached his superannuation duties as commercially “naïve”, “absolutely desperate” and a […]

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‘Stalinist’ APRA deterring ‘good people’ from super industry, ex-IOOF directors say
Financial Services 2019-07-12 8:08 pm By Amelia Birnie

The former directors of troubled fund manager IOOF have slammed APRA for bringing a “truly hopeless” disqualification case against them, telling a court the prudential […]

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Piper Alderman’s $3.5M legal bill for running KPMG class action in limbo
Class Actions 2019-07-12 1:37 pm By Miklos Bolza

A judge has refused to approve Piper Alderman’s $3.5 million in legal fees charged for running a class action against KPMG, appointing Grant Thornton as […]

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ASIC puts banks on notice after review shows ‘extremely poor value’ of credit insurance
Financial Services 2019-07-11 6:47 pm By Amelia Birnie

The corporate watchdog has warned “robust” enforcement action is on the cards for banks and lenders, after a review found consumer credit insurance policies to […]

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Law firms can push on with separate class actions against CBA under cooperation deal
Class Actions 2019-07-10 8:33 pm By Amelia Birnie

Rival law firms Maurice Blackburn and Phi Finney McDonald will be allowed to work together without consolidating their separate shareholder class actions against the Commonwealth […]

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