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The Federal Government will introduce legislation Thursday that would ban the grandfathering of conflicted remuneration for financial advisors, after the banking royal commission suggested scrapping the practice.
NRL says Telstra wanted ‘tough action’ following player scandals
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The National Rugby League has revealed major sponsor Telstra demanded “tough action” after the so-called “Summer of Hell” of player scandals, as it attempts to defend its no fault stand-down rule in an appeal launched by Dragons player Jack de Belin challenging his suspension.
Opal Tower unit owners launch multi-million dollar class action
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A class action has been filed against a NSW state government-controlled entity over Sydney’s scandal-plagued Opal Tower, in a claim that is expected to seek millions of dollars of compensation on behalf of hundreds of apartment owners.
Ex-Tennis Australia’s Harold Mitchell wants ASIC’s evidence from deceased former director
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Ex-Tennis Australia director Harold Mitchell, facing enforcement action by ASIC alleging he breached his duties in awarding Australian Open broadcast rights to the Seven Network, has asked a court for all evidence the regulator obtained from former board member Graeme Holloway, who died in February.
Stock exchange must hand over docs after investment firm’s suspension
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A judge has given the all-clear to an investment management company to access evidence for potential legal action against the National Stock Exchange of Australia after the firm’s shares were suspended without warning or explanation.
Landmark offers to shed stores to win ACCC blessing for $469M Ruralco takeover
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Rural supply giant Landmark’s has offered to sell three stores to win Australian Competition and Consumer Commission approval for its proposed $469 million takeover of competitor Ruralco, a move that would consolidate two of the three largest players in the rural merchandise market.
Coles claim for $40M in refunds for lost fuel ‘completely unreal’, ATO tells court
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A claim by Coles for $40 million in tax credits for fuel that evaporates or leaks from the 3,000 tanks at its service stations — based on an argument that the company buys extra fuel to account for the loss — is “completely unreal”, a lawyer for the tax office told a court Monday.
MediaCom exec claims he was fired for depression
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One of the top executives of MediaCom has filed a lawsuit against the media agency claiming he was fired and also passed up for promotion after requesting flexible working arrangements to accommodate his worsening depression.
ACCC challenges court’s dismissal of ‘flushable’ wipes case
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The Australian Competition and Consumer Commission has appealed a Federal Court judgment tossing its consumer case against Kimberly-Clark over “flushable” wipes.
Samsung Bioepsis sues to invalidate Humira biosimilar
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Korean drug company Samsung Bioepis has filed a lawsuit seeking to invalidate German drug company Fresenius Kadi’s patent for a biosimilar of blockbuster arthritis drug Humira.