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The High Court has unanimously sided with the corporate regulator in finding that cryptocurrency firm Block Earner's 'Earner' product was a financial product and a derivative and that it required a financial services licence.
The Commonwealth Bank wants Cornwalls to pay its costs in a negligence case by a former client, saying the law firm should foot the bill for claiming proportionate liability against the bank.
The Law Council says asserting legal professional privilege is not "inherently scandalous", ahead of a parliamentary hearing on KPMG's sharing ofclient information, at which law firms Allens and Ashurst are expected to stay mum.
A former financial advisor and his company have won court approval to run a claim challenging AMP's buyer of last resort policy, despite the company being a group member in a related class action that settled for $100 million in 2023.
KPMG has been referred to the national corruption watchdog, with Greens Senator Barbara Pocock calling the federal government's three-month pause on new contracts with the auditor a “slap on the wrist with a stick of limp celery”.
The privacy watchdog has ordered credit provider American Express to implement more stringent security controls and pay compensation to a customer whose information was improperly accessed by an AMEX worker they had a relationship with.
A judge has questioned whether Macquarie Financial should get 70 per cent of an interim $102 million distribution to people who sank their retirement savings into Keystone’s Shield Master Fund, which is being investigated for misuse of investor funds.
Defunct forex broker Union Standard and its former agents have been hit with a combined $300.2 million penalty for “egregious” contraventions, including deliberately pushing risky derivative contracts onto inexperienced investors.
A judge has rejected an application by online trading platform IG Markets to amend a cross-claim against a trader who earned $5.5 million in 30 minutes through a 'test market'.
Insurer QBE has admitted liability in ASIC’s case alleging it made empty promises to over half a million customers on policy discounts, but a dispute over the size of the penalty remains.