Sydney hospitality giant Merivale is facing a potential class action after the Fair Work Commission terminated an expired enterprise agreement, which had its army of staff on salaries well below the industry award rate.
JP Morgan, the reported whistleblower behind a criminal cartel case against ANZ, Deutsche Bank and Citigroup over a $2.5 billion share placement, has won its bid to keep documents from a related ASIC probe confidential.
Google and Facebook should be regulated given the potential they have to wield their monopoly powers in ways that would harm consumers, the ACCC said in its highly anticipated preliminary report into the digital platforms.
ANZ treasurer Rick Moscati was at the centre of a flurry of phone calls and meetings with underwriters and other bank executives on the day the underwriters agreed to pick up a $791 million shortfall in a $2.5 billion capital raising, an agreement which has led to groundbreaking cases by two regulators, according to a new court document.
ASIC has been given a little over a month to provide ANZ with documents it collected during the course of its investigation into a $2.5 billion ANZ share placement, as the bank, which is facing a related criminal cartel case, mulls whether to file an application to stay the regulator’s action.
Creditors of the failed Arrium Group have won access to documents handed over by third parties to the company’s administrators for possible civil proceedings against the steel producer, which collapsed owing $2.3 billion.
ASIC has filed a lawsuit against ANZ alleging it breached its continuous disclosure obligations in relation to a $2.5 billion institutional share placement, which is also at the centre of a criminal cartel case against the bank.
S&P Global will pay $215 million to settle six consolidated class actions brought by investors over toxic CDOs, a figure revealed by the Federal Court on Thursday despite calls that it be kept secret.
A tribunal has set aside a life-long ban of a successful former ANZ financial advisor accused by ASIC of lying about his qualifications, saying the advisor’s “insight into his own behavior” had changed.
The US securities regulator is reportedly looking into Facebook’s disclosures to investors about the harvesting of user data by political research firm Cambridge Analytica, as the company faces the threat of a privacy class action in Australia over the data debacle.