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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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Monarch Advisory’s 12-month non-compete clause reasonable, court says
Employment 2025-05-23 11:08 pm By Julia Kanapathippillai

Financial services firm Monarch Advisory Group has won over $270,000 in damages after two employees who started a new business were found to have breached restraint clauses in their contracts.

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Former JPMorgan trader jailed for 2 1/2 years for fraud
White Collar 2025-05-21 11:59 am By Christine Caulfield

Former JPMorgan head trader Mark McCabe will spend a minimum two years and six months in prison after pleading guilty to defrauding clients out of almost $1 million.

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ASIC takes crypto case against Block Earner to High Court
Cryptocurrency 2025-05-20 2:57 pm By Christine Caulfield

ASIC has asked the High Court to overturn a judgment in favour of cryptocurrency firm Block Earner, saying the decision would allow future products to escape regulation.

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ASIC takes Resimac to court for ‘one size fits all’ approach to hardship claims
Financial Services 2025-05-21 12:53 pm By Christine Caulfield

New enforcement action by the corporate regulator accuses home loan manager Resimac of letting down thousands of financially struggling customers who filed hardship applications.

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No loss proven in CBA cases, but all is not lost for shareholder class actions
Analysis 2025-05-16 11:01 pm By Christine Caulfield

In explaining where CBA shareholders went wrong in proving damages from the bank’s omissions over an AUSTRAC probe, the Full Federal Court has given class action plaintiffs the clearest indication yet of how they might win.

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ASIC accuses Macquarie of 14 years of short sale reporting failures
Securities 2025-05-14 11:07 pm By Andy Sidler

ASIC has taken Macquarie Securities to court alleging it failed to accurately report at least 73 million short sales over a period of 14 years.

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Court approves $64M settlement in superannuation class action against NAB units
Class Actions 2025-05-13 11:45 pm By Andy Sidler

A court has approved a $64 million settlement in a consumer class action against the NAB units MLC Trustees and NULIS Nominees, with 69 per cent of the settlement sum to go to group members. 

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Class action over risky CFDs wins access to customer screening data
Class Actions 2025-05-12 11:06 pm By Andy Sidler

A class action against CMC Markets has won access to data thought to reveal that approximately 2,500 customers who failed screening tests for risky financial products were nevertheless permitted to trade. 

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