Macquarie Group has defended its remuneration package for financial advisers in its private wealth unit, denying claims it paid them entirely in commissions and unlawfully withheld regular wages.
A mortgage broker can eyeball an internal Westpac document as he considers a misleading and deceptive conduct case against the bank for stripping him of his accreditation without explanation.
The decision by a federal judge to refuse calls for a confidentiality order keeping under wraps S&P Global’s massive class action settlement is a welcome one, experts say, and a preview of judgments to come.
S&P Global will pay $215 million to settle six consolidated class actions brought by investors over toxic CDOs, a figure revealed by the Federal Court on Thursday despite calls that it be kept secret.
AMP has prevailed in a hard-fought fight over where it will defend five shareholder class actions brought in the wake of the Banking Royal Commission, in a precedent-setting judgement that provides a road map for future jurisdictional battles over competing class actions.
The Commonwealth Bank of Australia and other lenders have been warned by the corporate watchdog against a “tick-boxes” approach to reviewing reverse mortgage applications by elderly home owners.
A judge refused Tuesday to step down from two cases brought by Bendigo and Adelaide Bank seeking to claw back loans from group members in a settled class action over Great Southern Group’s managed investment schemes, saying no apprehension of bias could arise.
Correspondence to a law firm revealing a client’s identity was covered by legal professional privilege because the firm’s advice was contingent on the client providing his name, a court has ruled.
The Commonwealth Bank of Australia is seeking to strike out portions of a shareholder class action over allegedly lax anti-money laundering and anti-terrorism financing controls it calls a “vague penumbra” that leaves the bank in the dark about the case against it.
The Public Trustee of Queensland asked a court Wednesday for indemnity costs from a global litigation funder its says was the “real moving force” behind a dismissed investor class action it called a “nakedly speculative venture”.