A federal judge on Friday set an August date to hear AMP’s arguments for why competing class actions should be moved to the NSW Supreme Court, but ordered the company to alert the state court to the brewing jurisdictional battle.
Fifteen former long-time financial advisers of Macquarie Bank have sued the bank, alleging they’re owed $2.6 million in wages after the bank paid them solely in commissions when they were entitled to a regular wage.
The litigation funder underwriting a class action over the collapse of Banksia Securities lost its bid Thursday to block a group member from challenging a $64 million settlement in the case.
AMP will begin its push on Friday to move competing Federal Court class actions to the NSW Supreme Court, but the company will face fierce opposition.
ASIC has permanently banned a former NAB adviser from providing financial services after an investigation found he impersonated clients in order to get access to client funds that he transferred into sham bank accounts.
As the ACCC’s criminal cartel case against ANZ, Citigroup and Deutsche Bank gets underway, the regulator will face off against a formidable team of lawyers with extensive experience in defending competition matters.
Online small business lender Prospa postponed Wednesday’s expected float for 48 hours to “clarify” questions by the corporate regulator over its small business loans.
High-ranking bank officials, including the former CEOs of Citigroup and Deutsche Bank in Australia, are among the executives charged over a cartel involving a $2.5 billion ANZ institutional share placement.
ANZ, Deustche Bank and Citigroup will be hit with criminal charges over an alleged cartel involving the institutional equity placement of ANZ shares that raised $2.5 billion in capital.
MYOB has decided to drop its bid to acquire Reckon’s accounting unit due to the ACCC’s extended regulatory review of the tie-up.