The Federal Court has approved Commonwealth Bank’s $25 million settlement with ASIC over allegations it manipulated the bank bill swap rate.
A Federal Court judge has signed off on a $700 million settlement between AUSTRAC and Commonwealth Bank of Australia for violating anti-money laundering and counter-terrorism financing laws, saying the penalty showed the court’s “strong disapproval” of the bank’s actions.
The trustee for collapsed investment group LKM Capital has reached a settlement in a class action brought on behalf of hundreds of investors who sunk $63 million into the failed firm.
MWL Financial Group’s co-founder and a group of superannuation and investment funds are seeking court approval to bring a derivative suit on behalf of the investment adviser against its private equity-backed US parent company, Focus Financial.
Squire Patton Boggs, one of the losing law firms in the GetSwift class action beauty contest, has lost again, this time in its fight to have winning firm Phi Finney McDonald pay its legal costs.
The corporate regulator has launched legal action against Westpac Banking Corp. over a former financial planner’s poor advice that resulted in multimillion dollar losses to customers.
A NSW Supreme Court judge refused Friday to pause one of five class actions against AMP despite an impending battle over where the cases should be heard.
S&P Global Ratings and ANZ Banking Group have agreed to settle seven class actions over toxic financial products given healthy credit ratings ahead of the global financial crisis.
The government has released a draft code of practice for a new deferred prosecution scheme under which corporations could avoid charges in exchange for self-reporting serious corporate crimes.
A federal judge on Friday set an August date to hear AMP’s arguments for why competing class actions should be moved to the NSW Supreme Court, but ordered the company to alert the state court to the brewing jurisdictional battle.