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A judge has ordered ANZ to pay $250 million in penalties in four cases by ASIC – $10 million more than the bank had agreed to pay – saying ANZ had "substantially deceived” the government by overstating bond trading volumes.
Super trustee Netwealth has agreed to return over $100 million to members who invested their retirement savings in the First Guardian Master Fund, in the latest action by the corporate regulator over the failed fund.
AUSTRAC has launched an investigation into Bendigo and Adelaide Bank's compliance with anti-money laundering laws, as APRA directs the bank to hold a capital add-on of $50 million.
Fresh off a record settlement for the Robodebt scandal, the government is facing a new class action over a law that retroactively allowed it to impose card payment surcharges, which the suit says amounts to unjust enrichment.
ANZ is facing a lawsuit by former CEO Shayne Elliott alleging the bank breached the terms of a contract governing his departure when it denied him $13.5 million in bonus payments.
The competition regulator has cited the public interest in its misuse of market power case against Mastercard in fighting suppression applications by the credit card giant and its heavy-hitter customers, including Coles and Visa.
AMP has agreed to pay $29 million to settle a class action alleging insurance customers were overcharged, putting to rest another case stemming from "serious misconduct" that came to light curing the 2018 banking royal commission.
The Commonwealth Bank has paid $792,000 in penalties after the consumer watchdog found it had failed to enable data sharing for certain business customers.
ASIC has sued superannuation trustee Diversa for investing $300 million in retirement savings into Falcon Capital's failed First Guardian Master fund.
Police have arrested four individuals who are suspected of being involved in a money laundering operation at a Bendigo Bank branch in Victoria.