Maurice Blackburn is abandoning its class action against Westpac over the bank’s alleged responsible lending law breaches, weeks after ASIC lost its appeal in the so-called wagyu and shiraz case and conceded defeat.
A court has issued an order restraining US blockchain company Ripple Labs from advertising its PayID system to Aussies, two days after the company agreed to geoblock its website within Australia.
The Australian Securities and Investments Commission has brought legal proceedings against four directors of Linchpin Capital Group, the latest action over the financial services firm that allegedly funnelled $11 million of investor funds into unauthorized business and personal loans.
The Australian Securities and Investment Commission will not take action against the Commonwealth Bank of Australia or any of its directors of officers in relation to AUSTRAC proceedings the bank agreed to settle for $700 million in 2018.
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.
US blockchain technology firm Ripple Labs has said that it will rebrand and block access to allegedly infringing websites as it seeks to rapidly resolve an intellectual property dispute launched over the PayID trade mark.
Insurer QBE wants to downsize a massive class action brought against it and banking giant ANZ over the sale of allegedly worthless add on insurance.
The company behind the ubiquitous mobile banking PayID system has filed Federal Court trade mark proceedings against a US blockchain technology firm over its global real-time payment service.
A local court magistrate overseeing the ANZ criminal cartel case has denied a bid by prosecutors to be given twice the length of time typically allotted to parties for case conference discussions, saying the sooner the proceedings can be transferred to the Federal Court the better.
Former celebrity advisor Sam Henderson, who was slapped with a three-year financial services ban last year after his appearance at the banking royal commission, has pleaded guilty to dishonesty and defective disclosure offences after falsely telling clients he had completed a Master of Commerce degree.