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A judge has issued a temporary injunction limiting how Mayfair 101 can promote two of its investment products, in proceedings brought by ASIC accusing the investment firm of misleading and deceptive advertising.
The Australian Securities and Investments Commission has taken action on another banking royal commission case study, filing court proceedings against insurer Youi for allegedly taking two years to settle a home owner's hail storm claim.
Cigno is facing a possible class action over alleged predatory lending practices that were banned by the Australian Securities and Investments Commission last year, one day after losing a courtroom challenge to the ban.
Payday lender Cigno has lost a challenge to the corporate regulator's first action under powers to prohibit 'predatory' financial products that targeted its model of short-term credit lending.
A former general counsel who claims she was sacked from AMP after raising concerns about the company's fees for no services conduct has mostly succeeded in her bid for further particulars of allegations made in the company's defence, including a claim that she called "tantamount to extortion".
The Australian Securities and Investments Commission has launched proceedings against investment firm Mayfair 101 Group and Mayfair Platinum accusing them of misleading advertising.
Noting the challenge of searching for documentary evidence while employees are working from home, a judge overseeing two consumer class actions against ANZ and Westpac has directed the banks to hand over only a limited number of documents to the applicants, and given them extra time to do it.
Real estate agents advising tenants who may be unable to pay their rent to draw down their superannuation have raised the ire of the Australian Securities and Investments Commission, which warned they could be violating the Corporations Act.
Sparke Helmore has admitted that legal advice it provided to IOOF subsidiary Australian Executor Trustees was inadequate but has argued it should be responsible only for up to 10 per cent of the $76.6 million judgment against AET over the sale of a timber plantation by collapsed forestry giant Gunns Group.
A judge has approved a notice in a class action against Westpac alerting group members that an "expense sharing order" will be sought by the applicants if or when the case settles, the first ruling of its kind since the High Court struck down common fund orders.