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ASIC has brought court proceedings against wealth manager Mercer Financial Advice, alleging the company charged fees for services it did not provide and made false and misleading representations to thousands of customers.
ASIC has won an appeal of a judge’s decision that found Gold Coast-based payday lenders Cigno and BHF did not need a licence to issue loans to hundreds of thousands of consumers.
Melbourne-based hard assets investment manager Merricks Capital has won undertakings from its ex-managing director and two former employees who defected to an investment boutique run by financial commentator Peter Switzer and his son Marty.
The law firm that lost the first ever application for a group costs order in class actions against ANZ and Westpac has indicated it will revive its bid, tweaking a retainer agreement with group members in hopes of winning the court's approval this time.
Macquarie Bank has denied liability for a financial adviser’s theft of $2.9 million in customer funds, which the Australian Securities and Investments Commission alleged was caused by the bank’s failure to monitor third-party withdrawals.
The former general counsel of UK-based transit payment provider Littlepay was dismissed because her legal support was “problematic”, the fintech claims in response to allegations she faced bullying and discrimination upon returning to work after giving birth.
The Victorian Legal Services Board and Commissioner has suspended wealth guru Dominique Grubisa's law licence, saying she is "not entitled to engage in legal practice anywhere in Australia" and could face further regulatory action.
Keybridge Capital has sued WAM Active seeking declarations that a meeting of shareholders in the Wilson Asset Management subsidiary was validly held and a resolution appointing Keybridge's Nicholas Bolton to its board was passed and effective.
Despite previously remarking that the penalty was "a bit light on", a judge has ordered Squirrel Superannuation to pay $55,000 for false and misleading marketing linked to property investment for investors with self-managed superannuation funds.
Salter Brothers has won its lawsuit against former Hendry Group CEO Emma Hendry alleging the firm was misled into investing millions of dollars into the investment firm in 2019.