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The Federal Court has slapped non-bank lender Firstmac with an $8 million penalty, the second doled out in ASIC proceedings for violations of the new design and distribution obligations.
Rejecting an urgent travel ban bid by the corporate cop, a court has cleared Melbourne businessman Rashid Alshakshir to fly to Indonesia, saying the evidence did not show he was a flight risk.
A self-represented customer of Latitude Financial has lost his bid to challenge a decision throwing out his data breach lawsuit against the non-bank lender after he defaulted on court orders.
A former ANZ trader who was allegedly axed after complaining about manipulation of the bank bill swap rate has largely lost his application to amend his case.
A judge has deferred the question of what penalties Harvey Norman and Latitude Finance should face in a case by ASIC until their appeals are heard, noting the “regrettable” fragmentation of the case.
The Bank of Queensland has been sanctioned by the banking watchdog after an investigation found it charged fees to the accounts of dead customers.
Gilbert + Tobin has snagged a Sydney-based Dentons partner to bolster its financial services regulatory group.
ANZ Bank New Zealand has lost its bid to appeal a ruling that common fund orders can be made in class actions, including at an early stage of the proceeding,
Maurice Blackburn is stuck paying $5.4 million in security in a flex commissions class action against Macquarie, with a judge saying it represents a “business risk willingly undertaken”.
A third person has been sentenced in connection with the Courtenay House Ponzi scheme, which swindled $180 million from hundreds of investors.