A Gold Coast-based derivatives trading firm has lost a defamation case against an online investment forum over critical comments warning potential investors against using the company.
The ACCC has opened an inquiry into the inordinately high exchange fees consumers face when sending money outside Australia.
Investment manager Blue Sky, which is currently facing three shareholder class action investigations, has admitted to incorrectly charging $4.1 million in fees to certain funds over a ten-year period.
AMP may have misled the corporate watchdog about the independence of a report by Clayton Utz into its fees for no service policy, Royal Commissioner Kenneth Hayne has found.
The funder underwriting a class action against Westpac will take a 25 percent cut of the net — not gross — recovery sum to secure a judge’s approval of a common fund order in the case.
A judge has shot down a request by financial services company AGM that the court halt an ASIC proceeding seeking to revoke its financial services licence while a Federal Court case against it progresses.
A judge has signed off on a $3.5 million settlement in a case brought by the consumer watchdog against Equifax Australia, with the credit reporting company admitting it made misleading claims in selling paid credit packages to vulnerable consumers.
Slater and Gordon has filed the first class action over “worthless” credit card insurance, alleging National Australia Bank violated consumer protection laws when it sold the insurance to customers who were not eligible to bring a claim under the plans’ terms and conditions.
ASIC said it is considering enforcement action against companies that fail to detect and report breaches of the law in a timely manner, after a damning report found the major banks take more than four-and-a-half years on average to spot a breach.
AMP’s financial planning unit has shot back at allegations by the corporate watchdog that a group of planners engaged in so-called life insurance rewriting, admitting only that one of its army of advisers broke the law.