ANZ has agreed to pay $240 million in penalties to resolve four separate cases by the corporate regulator, including a record $80 million penalty for unconscionable conduct in its dealings with the federal government.
AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.
The Finance Sector Union has accused ANZ of being a “bank in crisis”, launching a case in the Fair Work Commission over its handling of mass job cuts.
Facing allegations that it misused its market power with major retailers, Mastercard is challenging a ruling for the ACCC that lays bare discussions about merchant agreements involving inhouse lawyers.
Defunct telecommunications company Jabiru Satellite can add new claims to its suit against major banks for withdrawing support for Australia’s first satellite, but it can’t put on a case that the lenders were “shadow” directors.
The financial crimes regulator has trimmed its case against the operator of online gambling sites Ladbrokes and Neds, UK-based Entain, alleging “systemic failure” to comply with its anti-money laundering obligations.
A judge has rejected all but two claims by ASIC in a suit against car finance provider Money3 and criticised how the regulator ran its case, saying it had consumed an “inordinate and disproportionate amount of the judicial and administrative resources of the court”.
CBA-backed venture capital firm Wollemi has reached an agreement to resolve a trade mark dispute with the family office of Tesla chairwoman Robyn Denholm.
A court has appointed receivers to two entities of collapsed asset manager Australian Fiduciaries amid concerns by the corporate regulator that $167 million in funds have been misused, including to buy $600,000 in luxury cars.
The corporate regulator has won the High Court’s leave to challenge a ruling for cryptocurrency firm Block Earner that it argues will allow future crypto products to evade the rules.