NAB unit NULIS Nominees was “hopelessly conflicted” in continuing to charge allegedly unlawful adviser commissions to superannuation fund members, a court has heard on the first day of a class action trial.
Westpac has been hit with a class action for allegedly overcharging superannuation customers for insurance coverage, months after paying $30 million to settle a separate superannuation class action.
Maurice Blackburn will seek $26 million in costs from a $110 million settlement in a long-running class action against AMP over its fees-for-no-service conduct, leaving more than three-quarters of the settlement to be distributed to group members.
The judge overseeing a slow moving class action against four AMP subsidiaries and two trustees over alleged excessive superannuation fees has expressed his frustration with delays in the case, fixing the case for trial over the wealth manager’s protest.
AMP and a group of financial advisers in a class action over changes to the firm’s buyer of last resort policy have agreed to another round of mediation, even as the wealth manager appeals a judge’s liability finding.
The corporate regulator has again initiated proceedings against Gold Coast-based BHF Solutions and Cigno for allegedly providing credit without a licence after the lenders failed to convince the Full Court that their services fell outside the scope of the Credit Act.
An independent investigation commenced in the wake of PwC’s tax leaks scandal has taken the firm to task for its “whatever it takes” growth strategy and “overly collegial” culture, which discouraged constructive criticism.
AMP has appealed its loss in a class action over changes to its buyer of last resort policy, under which the wealth manager slashed the amount it would pay financial advisers for their books of business.
A customer of non-bank lender Latitude Financial has filed a bid to join tech giants DXC Technology and Crowdstrike to her lawsuit claiming over $1 million in compensation from a cyberattack that compromised 14 million customer records.
A judge has ordered ANZ to pay a $15 million agreed penalty in a case over more than $10 million in cash advance fees charged to the credit card accounts of hundreds of thousands of customers.