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CBA has attacked two failed class actions' "misguided" appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.
Insurer Marsh has wasted no time in appealing a ruling that it breached an obligation not to use documents discovered in litigation over the $7 billion collapse of Greensill in separate proceedings.
Two failed class actions against CBA claim a judge used a “far too onerous test” for materiality in deciding whether the bank should have told the market about deficiencies in its anti-money laundering systems.
The corporate watchdog is suing the second Big Four bank in two months, alleging NAB mishandled hundreds of hardship applications from vulnerable customers.
A former director of investment firm Keystone, who is suspected by the corporate regulator of misusing millions in investor funds, has flagged a potential bid to keep his silence in a case by court-appointed receivers.
A concurrent group proceeding in Hong Kong could complicate an Australian class action against Perth-based forex trader Best Leader Markets Pty Ltd.
A senate committee has recommended that rules requiring that lawyers comply with anti-money laundering obligations should not apply to barristers acting on instructions from solicitors.
The corporate regulator has outlined its enforcement priorities for next year, and top of the hit list will be businesses that exploit cost of living pressures.
In the second test of the new design and distribution obligations under the Corporations Act, ASIC is seeking a $20 million penalty against the provider of the Kraken crypto exchange.
ASIC has attacked an appeal argument by payday lenders BSF Solutions and Cigno that athough they offered short-term loans, the fees they charged had no link to the credit services.