A judge has ordered trustee United Super to pay $23.5 million after admitting it was liable for excessive delays in processing $20 million in death and disability claims.
A Deloitte review has found lax compliance with anti-money laundering rules by Bendigo Bank over a six-year period.
Westpac has paid back $50 million plus interest and super to 47,000 current and former staff who were underpaid over an 11-year period.
ASIC on Thursday pushed for penalties totalling $85 million against Harvey Norman and Latitude Finance, after an appeals court found the retailer’s ads touting interest-free financing were misleading.
The trustee for super fund Cbus has agreed to pay a $23.5 penalty after admitting liability in the corporate regulator’s case over excessive delays in processing $20 million in death and disability claims.
The corporate cop has launched two new cases and sought approval to bring a third action over financial advice that led customers to sink hundreds of millions of dollars in retirement savings into the failed Shield and First Guardian investment funds.
A securitization and structured finance expert with over 20 years of experience has made the jump from Allens to Jones Day.
A class action over alleged inflated insurance policy premiums charged by advisers of two Commonwealth Bank wealth management licensees has settled, the second class action over CommInsure to resolve this week.
The applicant in a class action against AMP wants to amend the case five years in and three months out from trial, but a judge has warned he will look dimly on any changes that disrupt the evidence planned for the hearing.
The High Court has declined to hear an appeal of a ruling that found the directors of payday lenders Cigno and BSF are liable for the companies’ unlicensed credit activity.