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StatePlus employment case could get “ugly” at trial, judge warns
Employment 2018-04-30 8:19 pm By Miklos Bolza

An employment dispute between financial advisory StatePlus and former program and project manager Mark Lawson has been ordered into mediation, with a Federal Court Judge saying the case could be “very ugly” if it went to trial.

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Brennar resigns, GC out amid Clayton Utz report controversy
Financial Services 2018-04-30 12:01 pm By Christine Caulfield

AMP’s chairwoman Catherine Brennar has resigned and the firm’s general counsel has left, as the company faces possible criminal charges for misleading the corporate regulator over its decade-long practice of charging undue fees to clients.

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AMP could face criminal charges, Royal Commission hears
Financial Services 2018-04-27 11:24 pm By Christine Caulfield

AMP could be hit with criminal charges after counsel assisting the Royal Commissioner said Friday evidence before the commission had shown the wealth management firm may have broken the law when it charged fees for no service, lied about the practice to ASIC, and presented a heavily-edited Clayton Utz report to the corporate regulator as independent.

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Ex-Storm Financial execs appeal penalty
Securities 2018-04-27 10:19 pm By Cat Fredenburgh

The former directors of defunct financial advisory firm Storm Financial have filed an appeal after the Federal Court slapped them each with a $70,000 fine and banned them from managing corporations for seven years.

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Clayton Utz instructions from AMP irrelevant, legal experts say
Legal Ethics 2018-04-26 4:40 pm By Christine Caulfield

Clayton Utz’s public statements referencing its terms of engagement with AMP in drafting an independent report are irrelevant if it knew the document was destined for the corporate regulator, legal experts say, and transcripts from the Royal Commission suggest the law firm did know.

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Clouds build as AMP faces three potential shareholder class actions
Class Actions 2018-04-23 6:06 pm By Miklos Bolza

Business litigation firm Quinn Emanuel Urquhart & Sullivan is examining a possible shareholder class action against AMP after the Royal Commission exposed damning revelations concerning the financial giant.

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Under fire, Clayton Utz denies AMP report was compromised
Clayton Utz 2018-04-23 2:54 pm By Christine Caulfield

Facing demands for answers and a call to be suspended from government contract work, Clayton Utz has finally spoken out over its role in the scandal embroiling AMP.

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ASIC gets new powers amid shock admissions at Royal Commission
Securities 2018-04-20 3:03 pm By Cat Fredenburgh

Banks face increased fines for corporate wrongdoing under reforms that also boost the powers of the watchdog amid stunning admissions by financial services firms at the Banking Royal Commission.

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AMP chief quits amid scandal, board hires King & Wood Mallesons
Financial Services 2018-04-20 12:13 pm By Cat Fredenburgh

AMP’s chief executive Craig Meller has resigned after this week’s shocking revelations that the company misled ASIC over fees charged to customers and may have influenced a Clayton Utz report to the securities regulator.

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ACCC delays decision on MYOB, Reckon merger
Competition & Consumer Protection 2018-04-20 10:45 am By Cat Fredenburgh

The ACCC has delayed it decision on MYOB’s proposed bid for Reckon’s accounting unit while it waits for information, after the regulator raised concerns about how the merger would affect competition in the accounting software market.

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