A judge has blocked ASIC from running a new case seeking penalties against investment group M101 Nominees and founder James Mawhinney on remittal from the Full Court, after the regulator admitted it made errors at its initial trial.
A judge overseeing a class action against NAB has ordered group members to be sent an unusual notice stating that the case has been run in a “wholly unsatisfactory manner” and said he will consider dismissing the action if it continues in the same vein.
A judge has granted wealth manager Ord Minnett’s bid for injunctions preventing a former senior wealth adviser from soliciting its clients.
A judge has dismissed court proceedings brought by the corporate regulator against superannuation trustee Diversa over its alleged failure to oversee a now-banned financial adviser, ruling that the knowledge of downstream entities could not be attributed to Diversa.
Contracts for difference are again the target of a potential class action against an online broker on behalf of inexperienced investors who allegedly lost hundreds of millions of dollars.
Citibank has argued group members should be asked to sign on to a class action accusing five major banks of entering a cartel agreement to rig foreign exchange rates before evidence is filed in the case, saying it was impossible to know how much the claims were worth.
PricewaterhouseCoopers’ former head of international tax Peter-John Collins has been banned by the corporate regulator from providing financial services for eight years.
Embattled wealth guru Dominique Grubisa has succeeding in overturning banning orders from the corporate regulator, with a tribunal finding she did not pose a threat to consumers or the financial services market.
The Australian Securities and Investments Commission is seeking to restrain payday lenders Cigno and BSF Solutions from enforcing loan fees against 10,000 customers.
Two former Dick Smith executives have settled with the receivers of the defunct electronics retailer, dropping a High Court appeal over an $11.8 million ruling.