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ASIC loses appeal in CBA conflicted remuneration case
Financial Services 2023-08-17 10:32 am By Cindy Cameronne

ASIC has lost its challenge to findings that a revenue sharing arrangement between the Commonwealth Bank of Australia and former subsidiary Colonial First State Investments did not breach conflicted remuneration provisions of the Corporations Act.

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Full Court urged to toss ASIC’s ‘fatal’ appeal in CBA conflicted remuneration case
Financial Services 2023-02-22 5:46 pm By Cindy Cameronne

The Commonwealth Bank of Australia has urged the Full Court to toss ASIC’s challenge to a decision dismissing its conflicted remuneration case over the bank’s sale of its Essential Super product, saying the appeal suffered from “fatal” flaws.

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ASIC appeals loss in conflicted remuneration case against CBA
Financial Services 2022-10-26 5:18 pm By Cindy Cameronne

The Australian Securities and Investments Commission has filed an appeal after a judge dismissed its case alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, finding it was “misconceived”.

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CBA defeats ‘misconceived’ ASIC conflicted remuneration case
Financial Services 2022-09-29 11:11 am By Sam Matthews

The Australian Securities and Investments Commission has suffered a defeat in proceedings alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, with a judge finding the regulator “ignored the circumstances” in which the product was distributed.

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CBA says ‘non-existent’ chance it will make admissions in ASIC’s conflicted remuneration case
Financial Services 2021-03-11 7:27 pm By Cindy Cameronne

The Commonwealth Bank of Australia has told a judge there’s no chance it will admit to ASIC’s allegations that it accepted conflicted remuneration through the sale of its Essential Super product, likening the matter to ASIC’s failed ‘Wagyu and shiraz’ case against Westpac.

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Accountant who sexually harassed colleague fails to win readmission to board
Accounting 2021-03-08 5:25 pm By Miklos Bolza

An accountant who was kicked out of an Australia and New Zealand accounting association after a court found he sexually harassed a colleague has failed to win readmission after being unable to find an eligible member who could vouch for him in a character reference.

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CBA hits back at ASIC conflicted remuneration case
Financial Services 2020-08-26 10:50 pm By Miklos Bolza

The Commonwealth Bank of Australia has denied that it received any benefits through the sale of its Essential Super product, rejecting claims by Australian Securities and Investments Commission that it breached the conflicted remuneration provisions of the Corporations Act.

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