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ANZ will appeal a ruling that it breached its continuous disclosure obligations when it failed to inform the ASX of a bailout by the underwriters of a 2015 institutional share placement.
Group members will walk away with nothing under a settlement in a seven-year old class action against the Commonwealth Bank of Australia on behalf of borrowers who claimed they were forced to default on their commercial loans.
The Australian Securities and Investments Commission has banned a former AMP authorised representative who is suing the wealth manager for allegedly terminating him without proper cause and forcing him to sell his business for $6.1 million under its buyer of last resort program.
A judge's decision to chop $810,000 from the funder's cut of a settled class action against Westpac sounds a warning to class action litigators that when it comes to determining the size of a commission, case budgets matter.
ANZ's failure to disclose a bailout by banks underwriting a $2.5 billion share placement has resulted in a penalty of less than $1 million, ending an eight-year saga that included an aborted criminal trial.
Mercer Superannuation has agreed to pay $11.3 million in a case the regulator said was “the first and we hope the last” greenwashing case of its kind.
Former Dick Smith CFO Michael Potts is on the hook for paying $57 million in damages to National Australia Bank after the High Court on Wednesday revoked its grant of special leave, finding he did not raise a legal question of public importance.
A former Gilbert + Tobin lawyer with over 20 years' experience advising clients in finance transactions has joined Squire Patton Boggs' as a partner in Sydney.
ANZ has criticised the ACCC’s objection to its planned $4.9 billion merger with Suncorp, arguing before a tribunal that the alleged "uncertain" effects on competition in banking was not a sufficient reason to block the deal.
The group that oversees accountants in Australia and New Zealand has slapped PricewaterhouseCoopers with a $50,000 fine over its tax leaks scandal.