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ASIC has called for a $15 million penalty against National Australia Bank over its scandal-ridden 'Introducer' loan referral program, but a judge has questioned the “superficial” investigations in the case and remarked on the corporate regulator's "pattern" of bringing enforcement action after remediation programs were well underway.
Despite receiving immunity in a criminal cartel case against ANZ and two other investment banks, JPMorgan has disputed the existence of any cartel agreement since the early days of the ACCC's investigations, a court has heard.
IOOF has admitted that some allegations in an employee complaint at the centre of a shareholder class action were "substantially true", including claims that it overstated the performance of its 'Buy Model' investment portfolio and that its head of research instructed subordinates to complete his training courses for him.
Australia’s corporate watchdog has lost its bid to obtain Ashurst’s advice to Australia and New Zealand Banking Group about potentially illegal bank fees “for now”, but a judge has signalled that this may not be the end of the matter.
ASIC has launched court proceedings against Melbourne-based foreign exchange and derivative trader Forex CT alleging it engaged in unconscionable sales tactics that led to hundreds of thousands of dollars in investor losses.
Westpac has been hit with a class action over a "shonky" car loan scheme, in what is the first class to be filed in Victoria Supreme Court following passage of a state law allowing lawyers to earn contingency fees.
Elderly victims of Ponzi schemer Bradley Sherwin have told the government's class action inquiry of their "horrendous class action journey", which led to a "pathetic outcome" in which the majority of a $12 million settlement with the Bank of Queensland went to the law firm and funder behind the case.
Westpac is facing a class action over an allegedly dishonest car loan scheme that was eventually banned by the corporate regulator.
The Australian Securities and Investments Commission has won its challenge to a tribunal ruling that overturned a permanant ban imposed on a RI Advice Group authorised financial planner who double charged his clients.
A judge on Friday dismissed Westpac's bid for an update from litigation funder JustKapital as to whether it continues to financially back a class action against the bank over allegedly excessive insurance premiums.