A judge has said an 11-day trial in ASIC’s case against Solve My Debt Now will go ahead in December despite a third set of solicitors ceasing to act and no sign that the debt management firm will put on evidence.
Stockbroking firm Ord Minnett has overturned a judgment finding it owed years of wages and other entitlements to a wealth adviser who was only paid in commissions.
The corporate regulator says defunct forex broker Union Standard and its agents should be hit with $300 million in penalties for their tactics in pressuring customers to trade in risky financial products.
The corporate regulator has secured travel restrictions and freezing orders against two directors of Falcon Capital as part of its investigation into its managed investment fund.
Two Shaw & Partners advisers who won $580,000 in penalties and compensation against former employer Fortrend Securities face fresh litigation seeking to quash their demands for payment.
The corporate regulator has taken a provider of small loans to court after it allegedly monitored and removed funds from consumers’ bank accounts without their knowledge.
Former franchisees involved in a class action against RAMS are seeking to intervene in ASIC civil penalty proceedings against the defunct Westpac subsidiary.
Another failed class action is headed to the Full Court, with a case against ex-CBA unit Count Financial appealing a ruling that found advisors did not breach their duty to act in their clients’ best interest.
Payments processing company EML has agreed to pay $37.3 million to settle a shareholder class action over its alleged failure to disclose Ireland central bank’s concerns with its anti-money laundering compliance.
A judge has dismissed applications by mortgage broker Lendi Group and insurer ALI Group to declass a group proceeding over allegedly worthless mortgage insurance, saying it would be more efficient for the claims to advance as a class action.