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ASIC seeks $36M penalty against AMP unit in insurance churn case
Financial Services 2019-06-19 5:13 pm By Miklos Bolza

The Australian Securities and Investments Commission has asked a court to impose penalties of up to $36 million on an AMP subsidiary for failing to […]

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ANZ to pay nothing in interim settlement of 7-Eleven franchise class actions
Franchises 2019-06-18 10:22 pm By Christine Caulfield

ANZ Bank will not pay a cent to franchisees in its settlement of two class actions that allege the bank breached its responsible lending obligations […]

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Former MFS boss gets 10% off penalty for $147.5M misappropriation
Appeals 2019-06-18 8:55 pm By Amelia Birnie

A court has trimmed 10% off a $300,000 penalty against the former CEO of failed Gold Coast finance company MFS Group, after he successfully argued […]

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Commonwealth Bank still on the hunt for new GC
Financial Services 2019-06-18 3:21 pm By Cat Fredenburgh

The clock is ticking on Commonwealth Bank’s search for a new general counsel, with the position still vacant two weeks before the bank’s current top […]

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Royal commission class actions pile up, with more on the way
Class Actions 2019-06-18 2:56 pm By Christine Caulfield

While no means a flood, the class actions filed in response to the shocking evidence of misbehaviour at last year’s banking royal commission have been […]

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ANZ to fully repay fees for no service customers after ASIC says partial payments won’t cut it
Financial Services 2019-06-14 11:04 pm By Cat Fredenburgh

ANZ Bank will repay in full customers who were charged fees for no service after the corporate regulator pulled the bank up on its practice […]

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Judge allows expanded insurance class action against NAB
Class Actions 2019-06-13 3:07 pm By Christine Caulfield

A judge has granted a bid by the applicant in a class action against National Australia Bank over the sale of allegedly worthless credit card […]

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ANZ says 7-Eleven class action bid to restrict communications leaves bank ‘in limbo’
Franchises 2019-06-13 3:03 pm By Christine Caulfield

An attempt by applicants in two franchisee class actions against 7-Eleven to limit communications between the convenience store giant and group members ahead of a […]

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Court approves $14.6M settlement in Ashley Services class action
Class Actions 2019-06-13 1:50 pm By Miklos Bolza

The Federal Court has approved a $14.6 million class action settlement with private training company Ashley Services, auditors Deloitte and Grant Thornton, and Holmes Management […]

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AUSTRAC orders external audit of Afterpay over money laundering compliance
Financial Services 2019-06-13 1:21 pm By Cat Fredenburgh

AUSTRAC has ordered buy now, pay later giant Afterpay to appoint an independent auditor to oversee its compliance with anti-money laundering laws. The move by […]

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