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ANZ class action settlement won’t even cover IMF Bentham’s costs
Class Actions March 14, 2019 4:17 pm By Cat Fredenburgh

ANZ has reached a settlement in long-running class action proceedings alleging it hit customers with illegal fees, but the $1.5 million payout falls far short […]

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Government does backflip on promise to abolish trailing commissions
Financial Services March 12, 2019 11:42 pm By Christine Caulfield

The Morrison government has backed down from a plan to end trailing commissions for mortgage brokers, a month after embracing the recommendation from the Banking […]

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Commonwealth Bank wants to shut down one of two rival class actions
Class Actions March 11, 2019 8:21 pm By Miklos Bolza

The Commonwealth Bank of Australia has launched a bid to stay a shareholder class action brought by boutique law firm Phi Finney McDonald after the […]

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ASIC slams banks for ‘unreasonable’ delays in fees-for-no-service reviews
Financial Services March 11, 2019 3:24 pm By Cat Fredenburgh

Most of the country’s major financial institutions have still not conducted a systemic review of their fees-for-no-service failures, according to ASIC, which called the delays […]

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Liquidator loses appeal to block evidence as ATO aims at 10 year ban
Restructuring & Insolvency March 11, 2019 8:47 pm By Miklos Bolza

An appeals court has dismissed a challenge by Veritas Advisory principal liquidator David Iannuzzi to the admissibility of evidence submitted by the Australian Taxation Office […]

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Clayton Utz hands over AMP docs to ASIC, ending legal stoush
Financial Services March 8, 2019 11:07 pm By Christine Caulfield

Legal action brought by the corporate regulator over withheld documents at the centre of an investigation into AMP’s fees for no service conduct has settled, […]

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Judge got the maths wrong in awarding $5.6M for accounting error, Pitcher Partner says
Appeals March 7, 2019 1:16 pm By Christine Caulfield

A judge who hit Pitcher Partners with a $5.6 million damages ruling over an accounting error concealed from corporate client Neville’s Bus Service was wrong […]

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Class members waited too long to appeal Great Southern MIS settlement, court rules
Class Actions March 7, 2019 4:59 pm By Christine Caulfield

An appeals court has dashed the hopes of three group members of a resolved class action over managed investment schemes operated by agribusiness Great Southern […]

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Former NAB chief of staff charged over $40M fraud
White Collar March 5, 2019 9:30 pm By Christine Caulfield

The former chief of staff to ex-NAB boss Andrew Thorburn has been arrested and charged for her alleged role in a $40 million fraud against […]

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Westpac wants court to raise the bar for ‘personal advice’ finding
Financial Services March 4, 2019 10:59 pm By Cat Fredenburgh

Westpac has followed ASIC’s lead, launching a separate appeal to a ruling that it provided financial advice but not personal advice as part of a […]

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