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A judge has raised doubts about claims of loss and damage in a class action by members of superannuation funds operated by NAB units MLC and NULIS over alleged MySuper mismanagement, as he determines a challenge to whether the case was validly brought as a class action.
A showdown over two competing class actions against AMP is set down for December, and the applicants will have to persuade the judge overseeing the cases that they should not be consolidated.
US cryptocurrency maker Ripple Labs has hit back at an intellectual property lawsuit brought by the Australian company behind the ubiquitous PayID mobile banking system, saying its PayID trade mark is neither substantially identical nor deceptively similar to the Aussie mark.
The Commonwealth Bank of Australia has been fined $150,000 after a Federal Court judge found the bank had breached the law by increasing a problem gambler's credit card limit but that the conduct was "not systematic, deliberate or covert".
A judge has found that auditor Ernst & Young cannot rely on the privilege against self-incrimination in a lawsuit brought over its audits of failed financial services firm LM Investment Management.
James Mawhinney, director of the besieged Mayfair Group, has lost his bid to slow down two proceedings filed by ASIC which he claims will have a "catastrophic" effect on his business, staff and investors.
A judge has given the greenlight to AUSTRAC's $1.3 billion penalty against Westpac over the bank's 23 million breaches of money laundering and counter-terrorism laws, the biggest regulatory fine ever paid by an Australian company.
The Australian unit of French investment bank Société Générale must pay a $30,000 penalty after pleading guilty to four counts of breaching client money handling rules.
Former celebrity advisor and banking royal commission witness Sam Henderson has avoided jail time and been fined $10,000 after pleading guilty to dishonesty and defective disclosure offences for falsely telling clients he had completed a Master of Commerce degree.
A judge has sided in part with QBE Insurance and pared back a class action over allegedly worthless add-on insurance sold by ANZ to credit card and personal loan customers.