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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.
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.
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.
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.
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.
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.
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.
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.
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.