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Westpac can shield reports prepared by Allens from a class action over money laundering compliance, with a judge finding they were produced predominantly in defence of AUSTRAC action that preceded the case.
A law firm is looking into a potential class action on behalf of investors who pumped $1 billion of their superannuation into two failed funds, amid fears by ASIC of "catastrophic" losses.
A judge has slammed a Herbert Smith Freehills Kramer partner's submission that it is not good practice to subpoena witnesses in complex litigation -- saying this was "news to [her]" -- and rejected client AMP's bid to have a key witness testify from an Airbnb.
Ord Minnett has resolved a suit by a former exec claiming he was sacked for complaining about a $110,000 pay cut imposed after ASIC slapped the wealth management firm with a $880,000 penalty for breaching market integrity rules.
The Australian Securities and Investments Commission is taking a third swing at cyber enforcement proceedings, suing financial planner Fortnum Private Wealth after a breach saw the data of 9,000 clients published to the dark web.
ASIC has won travel bans against two people who are being investigated over their links to Keystone and Falcon Capital funds, which are suspected of misusing investor money, after the regulator claimed losses could be “catastrophic”.
ASIC has opposed a bid by online investment platform eToro to rely on late expert evidence in the regulator’s first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.
Auditor KPMG has hit back at a shareholder class action over water treatment business Phoslock’s alleged accounting irregularities, saying it should be completely relieved from paying damages since it acted honestly.
A former director of collapsed Melbourne derivatives broker Berndale Capital Securities will spend a year in jail after pleading guilty to offences connected to his misuse of company funds.
The former chairman of BBY has been charged with aiding and abetting dishonest conduct while head of the board at the defunct stockbroking firm.