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A NSW Supreme Court judge has voiced concerns in an unprecedented jurisdictional battle that a decision that leaves competing class actions against AMP still raging in separate courts may force the Federal Court into a corner.
Litigation funder JustKapital went on the attack in court on Wednesday, saying Westpac's objections to the terms of a proposed funding order in a class action against the bank were dangerously suspect.
AMP's financial planning unit was hit Wednesday with an enforcement action by the corporate regulator alleging its planners generated extra commissions by replacing, rather than transferring, life insurance policies for existing clients.
Respondents involved in a case brought by investment adviser Deep Investments over alleged share trading losses, including a solicitor who was sued for allegedly failing to inform the company of exchanges with ASIC about a potentially deceptive employee, are appealing a decision to allow the case to continue.
The Federal Court has approved Commonwealth Bank's $25 million settlement with ASIC over allegations it manipulated the bank bill swap rate.
A Federal Court judge has signed off on a $700 million settlement between AUSTRAC and Commonwealth Bank of Australia for violating anti-money laundering and counter-terrorism financing laws, saying the penalty showed the court's "strong disapproval" of the bank's actions.
The trustee for collapsed investment group LKM Capital has reached a settlement in a class action brought on behalf of hundreds of investors who sunk $63 million into the failed firm.
MWL Financial Group's co-founder and a group of superannuation and investment funds are seeking court approval to bring a derivative suit on behalf of the investment adviser against its private equity-backed US parent company, Focus Financial.
Squire Patton Boggs, one of the losing law firms in the GetSwift class action beauty contest, has lost again, this time in its fight to have winning firm Phi Finney McDonald pay its legal costs.
The corporate regulator has launched legal action against Westpac Banking Corp. over a former financial planner's poor advice that resulted in multimillion dollar losses to customers.