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The Full Court has heard that a judge's finding on materiality in two failed shareholder class actions against CBA could have “troubling” repercussions for insider trading cases and must be overturned.
CBA has attacked two failed class actions' "misguided" appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.
Bunnings has been found to have breached privacy laws with the use of facial recognition technology in its stores, but the hardware chain has vowed to seek a review of the decision.
Two failed class actions against CBA claim a judge used a “far too onerous test” for materiality in deciding whether the bank should have told the market about deficiencies in its anti-money laundering systems.
The corporate watchdog is suing the second Big Four bank in two months, alleging NAB mishandled hundreds of hardship applications from vulnerable customers.
The ASX has denied ASIC's claims that it misled about the progress of the replacement project for its CHESS share registry, saying it had a reasonable basis for stating the project was on track.
Australia's competition watchdog is concerned Cleanaway's proposed acquisition of Citywide could reduce competition in the waste management sector.
The corporate regulator has outlined its enforcement priorities for next year, and top of the hit list will be businesses that exploit cost of living pressures.
In the second test of the new design and distribution obligations under the Corporations Act, ASIC is seeking a $20 million penalty against the provider of the Kraken crypto exchange.
ASIC has attacked an appeal argument by payday lenders BSF Solutions and Cigno that athough they offered short-term loans, the fees they charged had no link to the credit services.