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IG Markets class action drops conflicted remuneration claims
Class Actions 2025-05-28 11:06 pm By Cat Fredenburgh

A class action against online trading platform IG Markets over alleged risky contracts for difference has dropped its conflicted remuneration claims after the court heard it was struggling to find a sample group member. 

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Class action says AMP did ‘nothing’ for 12 years to get better rate for super clients
Class Actions 2025-05-27 11:25 pm By Andy Sidler

On the first day of a seven-week class action trial, a judge has heard that AMP Superannuation failed to renegotiate interest rates with AMP Bank for up to 12 years, despite investing as much as $2 billion in customers’ superannuation with the bank.

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Judge tosses financial advice class action against ex-CBA unit
Class Actions 2025-05-27 11:49 pm By Cindy Cameronne

A judge has dismissed a class action against ex-CBA unit Count Financial alleging that it breached it duty to act in clients’ best interests and ensure adviser remuneration was free of conflict. 

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Marsh points finger at UBS in $7B Greensill cases
Financial Services 2025-05-27 11:24 pm By Cindy Cameronne

Insurer Marsh has fired off a cross-claim against Swiss bank UBS in several cases brought over Greensill’s $1.7 billion collapse. 

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ASIC seeks $30M penalty for Westpac’s ‘scandalous’ conduct
Financial Services 2025-05-26 11:17 pm By Andy Sidler

ASIC has asked a court to hit Westpac with a $30 million penalty for IT failures which caused  financial hardship applications to be ignored, conduct a judge has described as “shocking” and “truly scandalous”.

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Judge scolds HSBC for missing deadline to file defence in ASIC scam case
Financial Services 2025-05-26 11:37 pm By Julia Kanapathippillai

A Federal Court judge has criticised HSBC for failing to comply with court orders in the corporate cop’s case alleging the bank failed to protect customers from scams. 

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Healthscope secures $100m injection from CBA as receivers appointed
Restructuring & Insolvency 2025-05-26 11:48 pm By Christine Caulfield

The Commonwealth Bank has given Healthscope a $100 million lifeline as the embattled hospital giant appoints receivers to negotiate a sale.

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Freezing orders extended against people with suspected links to Keystone
ASIC 2025-05-26 11:25 pm By Andy Sidler

A court has extended freezing orders over the assets of two men suspected of connections to two Keystone funds, which ASIC has expressed “grave concerns” about.

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Failed NULIS class action says costs should wait until appeal
Class Actions 2025-05-23 10:55 pm By Cindy Cameronne

The lead applicant in a failed class action against NULIS Nominees has argued that any costs orders should be stayed until after its appeal, while the ex-NAB super trustee claims it should have $8 million in costs paid now. 

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ASIC hits Kalkine with new licence conditions over customer service advice
Financial Services 2025-05-23 1:19 pm By Christine Caulfield

The corporate watchdog has imposed extra conditions on Kalkine’s financial services licence amid concerns customer service representatives were providing unlicensed advice.

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