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A former Adelaide financial advisor that worked for a subsidiary of National Australia Bank has lost his bid for a temporary stay of a five-year ban for allegedly recommending that clients invest in failed fintech start-up Bux Global, after arguing the bad publicity could negatively affect the impending sale of his business.
Melbourne-based fintech ISignthis and its directors are facing a possible shareholder class action over a December profit downgrade.
An Australian law graduate and businessman who convinced tech billionaire Peter Thiel to fund a defamation lawsuit that ultimately bankrupted famed US gossip blog Gawker has filed a lawsuit seeking $2 million from a former business partner.
A Sydney-based financial advisory firm has been hit with a class action by a group of Chinese investors over a property investment and visa scheme that allegedly saw group members lose $14.5 million in funds.
The Australian Securities and Investments Commission has suspended the Australian Financial Services licence of a Sydney-based financial services provider that ran a property investment scheme targeting retirees, which the regulator has accused of issuing 'defective' product disclosure statements.
A year after Commissioner Kenneth Hayne released his scathing report, companies in the financial services sector are still facing fresh class actions over conduct aired at the banking royal commission, and the pace has even picked up in recent months.
Commonwealth Bank's wealth management unit Colonial First State Investments faces a new class action on behalf of hundreds of thousands of customers who were allegedly charged excesssive premiums on insurance policies.
Two National Australia Bank units have been hit with a class action alleging they violated their duties as superannuation trustees by allegedly failing to transfer members to funds with lower fees.
A new superannuation bill working its way through the Federal Parliament should include a right of action for employees to seek damages against businesses that fail to make super payments, according to a Maurice Blackburn partner.
Mortgage lending and investment company RMBL has agreed to pay $3 million to settle a class action alleging it charged excessive fees on loans and made misleading representations under its contributory mortgage fund scheme.