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Westpac has been hit with a lawsuit by AUSTRAC for its alleged "systemic" failure to comply with anti-money laundering and counter terrorism finance laws.
A former National Australia Bank branch manager has been sentenced to a year of home detention for engaging in fraud in relation to the bank's scandal-ridden Introducer home loan program.
Wealth management company Clime Capital and its CEO have been sued by a former chief investment officer who claims he was fired after complaining about a conflict of interest within the firm.
The Commonwealth Bank of Australia's insurance division, CommInsure, has pleaded guilty to 87 criminal charges that it hawked life insurance products in unsolicited telephone calls, but wants credit for the early plea.
The National Australia Bank has admitted to most of the violations alleged in the Australian Securities and Investments Commission's case over the bank's $24 billion scandal-ridden 'Introducer' loan referral program.
The National Australia Bank faces the prospect of "significant monetary penalties" after self-reporting a potentially large number of money laundering and counter terrorism financing breaches to AUSTRAC and its overseas counterparts.
The corporate regulator has shot back at "exaggerated and inaccurate criticisms" that its updated responsible lending guidelines were to blame for lack of access to credit.
Macquarie Bank has been hit with another lawsuit by former financial advisers who claim the bank underpaid them to the tune of $4.8 million by remunerating them solely in commission when they were entitled to a regular wage.
Certain claims in a shareholder class action against insolvent training company Vocation and auditor PricewaterhouseCoopers have been dropped, as the long-running case awaits a new trial date pending the outcome of a separate Full Court appeal.
The banks and executives at the centre of a landmark criminal cartel case can question four ACCC investigators and witnesses from JP Morgan at an upcoming committal hearing, with a magistrate saying Friday there were "substantial reasons in the interests of justice" to allow the cross-examination.