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AMP executives are the focus of the Australian Securities and Investments Commission's investigation of the wealth management firm's fees for no service scandal, a court heard Friday.
A contractor for wealth manager AMP who was arrested while trying to flee the country has pleaded guilty to stealing customer data.
The Australian Securities and Investments Commission will likely appeal a ruling that two Westpac units did not provide personal financial advice as part of a campaign encouraging customers to roll over external superannuation accounts.
Law firms Maurice Blackburn and Phi Finney McDonald have stepped back from a proposed consolidation of their class actions against the Commonwealth Bank of Australia and want to run their own cases again, but now with "harmonised" pleadings.
Common fund orders are the completion of the notion of class actions envisaged when the regime was introduced 27 years ago, a joint-sitting of two appeals courts was told on the second and last day of a landmark challenge to what has become an oft-used case management tool by trial judges.
The government has thrown its support behind a proposal to give the Federal Court jurisdiction to hear white collar criminal matters.
Three words missing from a demand letter have sunken oil and gas producer Santos Limited's appeal of a loss in its dispute with French bank BNP Paribas over a $55 million bank guarantee.
Companies that run afoul of the law should brace for more courtroom battles against ASIC, after the Hayne Royal Commission urged the corporate regulator to make litigation a central pillar of its enforcement strategy.
Banking royal commissioner Kenneth Hayne has recommended at least two unnamed entities face criminal charges for dishonest conduct connected to their fees for no service practices, an offence that carries a maximum penalty of 10 years' jail or a hefty fine, or both.
An appeal before a historic joint sitting of two courts over so-called common fund orders in class actions kicked off Monday with a full bench of six judges and a packed courtroom hearing arguments by eminent barristers for BMW and Westpac that the orders are either preemptive or pointless.