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Online trading platform IG Markets is facing more scrutiny over its marketing of risky financial products, with a third law firm investigating a class action for everyday investors who have lost money.
The Finance Sector Union has brought action in the Fair Work Commission over the Commonwealth Bank’s decision to force employees to return to the office.
ASIC has won orders declaring that Gold Coast-based BHF Solutions and Cigno needed a credit licence to issue loans to hundreds of thousands of customers, after the High Court tossed a challenge by the payday lenders.
Retail broker Openmarkets has paid the largest ever penalty handed down by ASIC’s markets disciplinary panel, with the regulator also banning its former trading head for three years.
The lead applicant in a class action against AMP Financial Planning on behalf of 542 advisers has won $813,000 in damages after a judge found it could not retreat from a promise to buy back adviser businesses at four times their revenue.
GetSwift director Joel Macdonald still has not been served almost a year after his former Melbourne Demons teammate James Strauss filed a $15 million lawsuit against him, with a judge adjourning yet another substituted service application.
A judge has rejected TPG-owned Anew Climate’s bid for default judgment against an Australian company that allegedly impersonated a US carbon offset developer in order to unlawfully receive payments under a $1 billion deal, saying “it’s not hard” to make the application under the correct rule.
Greensill Capital's UK division has won a stay of several lawsuits over the supply chain financing firm's $1.7 billion collapse, but an insurer has already flagged a bid to press on with its claims against the company.
Queensland lender SunshineLoans has lost its second bid for the Full Court to decide whether ASIC has the power to bring civil penalty proceedings for violations of the Credit Code, with a judge finding its arguments were not strong enough to vacate an upcoming trial.
Commonwealth Bank of Australia has recruited Clayton Utz partner and executive chair Karen O’Flynn to replace the outgoing Carmel Mulhern as the bank's group general counsel.