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ASIC vows to pursue fees-for-no-service cases in court
Financial Services August 17, 2018 11:05 pm By Cat Fredenburgh

The corporate watchdog is planning to launch legal action soon over the banking industry’s fees for no service, and expects to secure $1 billion in […]

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Fitch expert challenged in investor class action over toxic CDOs
Class Actions November 23, 2018 5:37 pm By Miklos Bolza

An expert witness in an investor class action against Fitch Ratings over toxic financial products is no expert at all, the lead applicant told the […]

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Court rejects Westpac’s $35M settlement with ASIC
Financial Services November 13, 2018 11:41 am By Miklos Bolza

The Federal Court has thrown out a proposed $35 million settlement between ASIC and Westpac over responsible lending breaches, saying the agreement was “unworkable” and […]

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Ex-CBA banker to stand trial for role in $170M home loan fraud scheme
White Collar October 12, 2018 4:49 pm By Cat Fredenburgh

A former mobile lender with the Commonwealth Bank of Australia will stand trial for his alleged role in a massive $170 million home loan fraud […]

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ASIC contests referee idea in AMP insurance rewriting case
Financial Services October 11, 2018 4:21 pm By Miklos Bolza

ASIC has locked horns with a Federal Court judge over his proposal to appoint an independent referee in its case against AMP over insurance rewriting, […]

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Judge puts ASIC ‘fees for no service’ case against NAB on fast-track
Financial Services October 8, 2018 10:56 pm By Miklos Bolza

A Federal Court judge has put ASIC’s first fees for no service case, brought against two units of National Australia Bank’s wealth management division, on […]

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Ponzi schemer’s co. to face claims in Westpac class action
Class Actions October 8, 2018 8:28 pm By Cat Fredenburgh

A Federal Court judge has allowed the plaintiffs in a class action alleging a unit of Westpac failed to detect the fraud of convicted Ponzi […]

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AMP may have misled ASIC about Clayton Utz report, Hayne says
Financial Services September 28, 2018 11:12 pm By Christine Caulfield

AMP may have misled the corporate watchdog about the independence of a report by Clayton Utz into its fees for no service policy, Royal Commissioner […]

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NAB hit with class action over ‘worthless’ credit card insurance
Financial Services September 27, 2018 4:08 pm By Cat Fredenburgh

Slater and Gordon has filed the first class action over “worthless” credit card insurance, alleging¬† National Australia Bank violated consumer protection laws when it sold […]

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ASIC may take banks on for sluggish reporting of breaches
Financial Services September 25, 2018 3:55 pm By Cat Fredenburgh

ASIC said it is considering enforcement action against companies that fail to detect and report breaches of the law in a timely manner, after a […]

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