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The corporate cop has launched two new cases and sought approval to bring a third action over financial advice that led customers to sink hundreds of millions of dollars in retirement savings into the failed Shield and First Guardian investment funds.
ASIC on Thursday pushed for penalties totalling $85 million against Harvey Norman and Latitude Finance, after an appeals court found the retailer’s ads touting interest-free financing were misleading.
A securitization and structured finance expert with over 20 years of experience has made the jump from Allens to Jones Day.
The applicant in a class action against AMP wants to amend the case five years in and three months out from trial, but a judge has warned he will look dimly on any changes that disrupt the evidence planned for the hearing.
A class action over alleged inflated insurance policy premiums charged by advisers of two Commonwealth Bank wealth management licensees has settled, the second class action over CommInsure to resolve this week.
The High Court has declined to hear an appeal of a ruling that found the directors of payday lenders Cigno and BSF are liable for the companies' unlicensed credit activity.
Superannuation funds Hesta and Prime Super have been pinged by the corporate regulator for allegedly greenwashing their investment portfolios.
The Finance Sector Union has warned the country's biggest banks they could be flouting workplace laws if they refuse flexible work requests, following a landmark court victory for a Westpac worker whose work from home request was denied.
ASIC is considering an appeal of a ruling that tossed its conflicted remuneration case against Freedom Insurance's former boss and another executive over a sales incentive scheme.
Wealth manager Colonial First State Investments and insurer AIA have reached a $140 million settlement in a long-running class action alleging 700,000 superannuation members were charged inflated premiums on insurance products linked to former owner CBA.