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Lead applicant socked with costs of Banksia class member’s appeal
Appeals December 19, 2018 9:53 pm By Christine Caulfield

The lead applicant in a class action over the failure of Banksia Securities is on the hook for paying the legal costs of a class […]

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ACCC gets $35M boost to take on cartels
Competition & Consumer Protection December 18, 2018 4:59 pm By Cat Fredenburgh

The government has given the ACCC a $35 million shot in the arm to bring more criminal cartel cases and investigate anti-competitive conduct. The funding […]

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MFS execs lose appeal over $147.5M in misused funds
Financial Services December 18, 2018 5:56 pm By Miklos Bolza

Three former executives of failed Gold Coast finance company MFS Group have lost their challenge to a ruling that they misappropriated $147.5 million in funds […]

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ASIC sues AMP, Clayton Utz over fees for no service report docs
Financial Services December 17, 2018 12:45 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has instituted new proceedings against¬† AMP and its law firm Clayton Utz seeking documents related to the fees for […]

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High Court to hear mortgage aggregator share transfer dispute
Corporate December 17, 2018 9:29 pm By Miklos Bolza

The High Court has granted special leave to mortgage aggregator Connective in a dispute between the firm’s founder and major shareholders over a transfer of […]

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Judge spurs ASIC to mediate in NAB fees for no service case
Financial Services December 17, 2018 3:23 pm By Miklos Bolza

A judge has pushed the Australian Securities and Investments Commission into mediation with two NAB wealth management units in its case over $100 million in […]

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ACCC wants $1.5M fine against struggling debt collector
Competition & Consumer Protection December 11, 2018 9:08 pm By Miklos Bolza

The consumer watchdog has sought more than $1.5 million in penalties against debt collector ACM Group after the company was found liable for harassing vulnerable […]

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ASIC suffers another loss in Westpac dodgy home loan case
Financial Services December 11, 2018 11:14 pm By Christine Caulfield

The Australian Securities and Investments Commission has lost a bid to have the Federal Court decide a threshold legal question in its dodgy home loan […]

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After settlement rejected, ASIC takes Westpac case to trial
Financial Services December 10, 2018 1:59 pm By Miklos Bolza

The corporate cop’s case against Westpac over allegedly irresponsible lending practices will go to trial after the Federal Court rejected the bank’s $35 million settlement. […]

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IOOF’s Chairman, CEO step down in wake of APRA action
Financial Services December 10, 2018 2:06 pm By Christine Caulfield

IOOF’s chairman and CEO are stepping aside to defend against a Federal Court action by Australia’s financial regulator seeking to have them, along with three […]

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