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A judge has questioned the level of detail in a 1,700-page proposed amended pleading in a shareholder class action over the collapse of fund manager Blue Sky, expressing "frustration" at the amount of unnecessary work that goes on in class actions.
A judge has approved a $120 million settlement in a class action against AMP that followed the banking royal commission, saying while it was a “very disappointing outcome” for group members it was still fair and reasonable.
ASIC's Markets Disciplinary Panel has slapped NAB broker WealthHub Securities with a $1.055 million fine for failing to accurately report regulatory data.
Former ANZ subsidiaries have filed proceedings against three insurers claiming they wrongfully denied coverage for $182 million in compensation and costs relating to financial adviser breaches to retail clients.
ASIC is continuing its aggressive crackdown on advisers that spruiked the First Guardian and Shield Master Funds, banning a MWL Financial adviser for allegedly providing advice that was not in her clients' best interests.
Credit Suisse is fighting a bid for access to Deloitte reports commissioned by a Swiss law firm and advice from Linklaters, in litigation against insurers over the collapse of supply chain finance company Greensill Capital.
Deutsche Bank has copped a $2 million fine for misreporting more than 260,000 over-the-counter derivatives transactions over a period of more than 200 business days.
The corporate regulator has expanded its case against Resimac that accuses the home loan manager of breaching its fairness obligations as a credit licensee towards customers who filed hardship applications.
The corporate regulator has told a court it has little hope for success in mediation in its case over SQM Research's positive reports on the failed Shield fund.
The corporate regulator is seeking penalty and disqualification orders against a financial adviser whose businesses allegedly earned $37 million for spruiking the collapsed First Guardian fund, a court has heard.