The Australian Securities and Investments Commission has prevailed in its case against payday lenders Cigno and BSF Solutions alleging they provided credit without a licence, with a judge rejecting their argument that their loan model was analogous to buy now, pay later arrangements that don’t require a credit licence.
The auditors of self-managed superannuation funds that clients of Melissa Caddick invested with the Sydney fraudster and her company Maliver have hit back at class action claims, saying the clients have themselves to blame for handing over “direct control” of their funds.
A former Ord Minnett executive has taken the wealth management firm to court alleging he was sacked for complaining about a $110,000 cut in his pay imposed after the corporate regulator slapped the firm with a $880,000 penalty for breaching market integrity rules.
Challenging a ruling that it breached its continuous disclosure obligations, ANZ has argued on appeal that it did not need to inform the ASX of a bailout by the underwriters of a 2015 institutional share placement because the information didn’t go to the fundamental value of its shares.
ANZ has resolved a case brought by the bank’s former head of money markets, who claims he was fired for making complaints about sexual harassment by senior managers and false reporting to APRA.
Former BitConnect national promoter John Louis Bigatton has pleaded guilty over his role in marketing the online cryptocurrency platform, a global Ponzi scheme that reached a market capitalisation of $5 billion before its collapse.
A judge has given the green light to amendments to a $100 million class action against NAB over the collapse of Walton Construction, which include new claims of equitable fraud and knowing involvement in misleading and deceptive conduct.
A class action against ANZ and former subsidiary OnePath has been given the green light to “significantly expand” its case against the big four bank, over three years after the case was first filed.
The Australian Securities and Investments Commission is investigating ANZ’s dealings in its role as risk manager of 10-year government treasury bonds worth $14 billion.
A law firm investigating a group proceeding against non-bank lender Latitude over a data breach last year has called on the information commissioner to give an update on a related class action-style complaint.