Financial Services

The Australian Competition and Consumer Commission has cleared the way for ASX-listed Cuscal's to acquire payment facilitation supplier Indue, saying it was unlikely to substantially lessen competition. 

ASIC wants an injunction against a financial adviser whose "honey pot" marketing allegedly led to 6,000 clients pumping over $520 million into the collapsed Shield and First Guardian funds. 

A second MWL Financial adviser has been banned this week by the corporate regulator as part of its probe into the costly collapse of Keystone's failed Shield Master Fund.

Mastercard can pursue an appeal of a ruling for the competition regulator requiring the credit card giant to hand over communications about its agreements with retailers, which are at the centre of a misuse of market power case.

A judge has raised concerns about whether an agreed-to $20 million penalty against Westpac's defunct home loan subsidiary RAMS is enough to deter other lenders from breaking credit rules.

Westpac has lost a dispute with a part-time employee who asked to work from home to care for two young children and was told by a manager that “working from home is no substitution for childcare”.

The corporate regulator has banned a MWL Financial adviser for eight years for recommending clients park the bulk of their superannuation into Keystone's high-risk Shield Master Fund, which has since collapsed.

A judge has refused to join the ATO as an interested party to a case over the receivership of investment platform Brite Advisors, after the receivers worried they could be on the hook for $75.4 million in capital gains tax. 

A court has tossed the corporate regulator's case against Freedom Insurance's former boss and another executive, finding that a sales incentives scheme did not breach conflicted remuneration laws.

A group of investors have won a dispute against a Newcastle-based company over a foreclosure on a mortgage in relation to a Gold Coast which did not proceed.