Former National Australia Bank branch manager Mathew Alwan has been permanently banned from the financial services industry for his involvement in a home loan fraud ring in greater western Sydney.
A Federal Court judge has put ASIC’s first fees for no service case, brought against two units of National Australia Bank’s wealth management division, on an expedited timetable, saying the case was not new territory for the bank.
A Federal Court judge that threw out a consumer class action against MyBudget has denied the budget management company’s bid for costs, finding the case was brought in the public interest.
A Federal Court judge has allowed the plaintiffs in a class action alleging a unit of Westpac failed to detect the fraud of convicted Ponzi schemer Michael Samra to proceed with their claims against Samra’s defunct company.
The stakes will be high for both sides when some of the country’s top competition lawyers face off against the ACCC Tuesday in the first hearing in a closely watched criminal cartel case against three investment banks over a $2.5 billion ANZ institutional share placement.
Housing giant Metricon will pay $50,400 in penalties after being hit with four infringement notices for misleading advertising aimed at first home buyers.
A Gold Coast-based derivatives trading firm has lost a defamation case against an online investment forum over critical comments warning potential investors against using the company.
The ACCC has opened an inquiry into the inordinately high exchange fees consumers face when sending money outside Australia.
Investment manager Blue Sky, which is currently facing three shareholder class action investigations, has admitted to incorrectly charging $4.1 million in fees to certain funds over a ten-year period.
AMP may have misled the corporate watchdog about the independence of a report by Clayton Utz into its fees for no service policy, Royal Commissioner Kenneth Hayne has found.