Most Recent
‘Fundamentally wrong’: Judge pans AMP’s payment to PwC for remediation review
Financial Services 2023-06-02 3:48 pm By Cindy Cameronne

It was “fundamentally wrong” that AMP Financial Planning paid consultant PricewaterhouseCoopers significantly more to review a court-ordered remediation than was paid to customers who suffered loss after an adviser churned life insurance policies for higher commissions, a judge has said.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

‘Completely at sea’: Banks push for class closure in flex commissions cases
Class Actions 2023-06-02 10:33 pm By Sam Matthews

Westpac, Macquarie and ANZ are seeking class closure orders ahead of mediation in three class actions over flexible commissions schemes, telling a court hearing they will be “completely at sea” without a better idea of the class size.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

SMBC can add new claims in $34M case over Forum Finance receivables
Westpac 2023-06-02 4:00 pm By Gareth Baker

SMBC has been cleared to add more claims to its $34 million suit against Humm Group after the fintech’s subsidiary allegedly misled the Japanese bank about worthless receivables under contracts said to be forged by a Forum Group entity.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC hits Melbourne CFD broker with interim stop order
ASIC 2023-06-02 10:01 pm By Gareth Baker

ASIC has issued an interim stop order barring a Melbourne-based investment broker from opening trading accounts or dealing in contracts for difference or margin foreign exchange contracts to retail investors. 

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Zip wins high-stakes trade mark stoush with Firstmac
Intellectual Property 2023-06-01 11:51 pm By Sam Matthews

Buy now, pay later giant Zip Co has successfully defended a lawsuit over its use of Firstmac’s ‘Zip’ trade mark and won its bid to have the mortgage provider’s mark removed for non-use.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Visa’s blockchain payment invention not patentable, IP Australia says
Intellectual Property 2023-06-01 1:43 pm By Gareth Baker

Payment giant Visa has lost an application for a patent covering a way to transfer assets between banks, with an IP Australia delegate saying the invention uses generic computer technology and is not patentable.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

TPG-backed company seeks quick win in case over alleged scam tied to $1B climate deal
Energy & Natural Resources 2023-05-31 10:14 pm By Gareth Baker

A company backed by private equity giant TPG which was allegedly fooled into paying part of a $1 billion deal to the wrong company wants default judgment in a case against the accused scammer, but a judge has raised doubts about attempts to serve the lawsuit.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Bank of Queensland vows to fix risk management failings after ‘lengthy period of non-compliance’
Financial Services 2023-05-31 2:25 pm By Sam Matthews

Bank of Queensland has been called out by two regulators over its compliance with anti-money laundering and counter-terrorism financing laws and its risk management practices.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC lifts stop order on Humm’s buy now, pay later products
Financial Services 2023-05-29 11:07 pm By Gareth Baker

The Australian Securities and Investments Commission has revoked an interim stop order against Aussie fintech Humm Group, which had been preventing the company from selling its buy now, pay later product to new customers.  Humm revealed the news in an announcement on Monday, only days after the order was issued out of concerns around the…

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC hits pause on Humm’s buy now, pay later products
Fintech 2023-05-26 3:07 pm By Gareth Baker

The Australian Securities and Investments Commission has hit fintech Humm Group with an interim stop order barring it from issuing buy now, pay later products to new customers.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?