Westpac, Macquarie and ANZ have won soft class closure orders ahead of mediation in three class actions over flexible commissions schemes after a judge found they will improve the chances of settlement. In a judgment handed down on Thursday, Victoria Supreme Court Justice Lisa Nichols ordered that group members have to formally register in the…
A Federal Court judge overseeing a class action against IG Markets over risky financial products has questioned whether courts should take a “more robust” approach to avoid the “nonsense” of competing class actions, amid the threat of a second class action being filed in the Supreme Court of Victoria.
Former director of event management company the Human Group, Helen Rosamond, has been sentenced to a 15-year aggregate term of imprisonment for defrauding NAB of $19 million, and will have to serve eight years of the sentence behind bars.
The corporate watchdog has cancelled the AFS licence of FTX Australia, the Australian subsidiary of collapsed cryptocurrency exchange FTX.
Wealth manager Colonial First State Investments has agreed to pay $100 million to resolve a consumer class action alleging it charged excessive fees on superannuation accounts, in one of the biggest class action settlements of the year so far.
The Commonwealth Bank has failed again to dismiss a case brought by customers who claim they were the victims of a money laundering scam known as cuckoo smurfing and had funds seized as proceeds of crime.
National Australia Bank says employees suing the company for years of alleged unpaid overtime have failed to prove the work asked of them was unreasonable, in response to a test case that could affect up to 10,000 staff.
Online trading platform IG Markets is facing more scrutiny over its marketing of risky financial products, with a third law firm investigating a class action for everyday investors who have lost money.
The Finance Sector Union has brought action in the Fair Work Commission over the Commonwealth Bank’s decision to force employees to return to the office.
ASIC has won orders declaring that Gold Coast-based BHF Solutions and Cigno needed a credit licence to issue loans to hundreds of thousands of customers, after the High Court tossed a challenge by the payday lenders.