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A unit of insurer Marsh breached its obligation not to use documents discovered in litigation over the $7 billion collapse of Greensill by using them in an anti-suit injunction bid in the UK, a court has found.
The law firm running a class action against ANZ and superannuation trustee OnePath wants a 29.4 per cent cut of the $50 million settlement, having run the case on a no win, no fee basis.
The superannuation fund of the construction industry has been hit with ASIC enforcement action, accused of long delays in processing the death and disability claims of thousands of members.
A former investment manager who provided investors with forged portfolio reports about his 'Golden Method' trading strategy has been sentenced to three years in jail.
A judge has dismissed the corporate regulator’s case alleging former Dixon Advisory director Paul Ryan breached his director’s duties.
NAB has successfully opposed a US company’s bid to register a trade mark for 'UWallet', with IP Australia rejecting claims the bank was trying to establish a “de facto monopoly”.
Wealth manager Escada Partners has lost its lawsuit against two former partners who defected to rival LGT Crestone, with a judge finding a five-year non-compete clause was unreasonable.
ASIC claims non-bank lender Oak Capital engaged in unconscionable conduct by deliberating employing a business model to skirt the National Credit Code when issuing $37 million in loans.
Investment manager Salter Brothers has sued XL Insurance, saying it has “unreasonably delayed” covering the costs of defending a former client’s lawsuit alleging misleading conduct.
The corporate regulator has warned financial services and credit licensees to get ahead of the curve in regulating the use of AI, particularly in the face of novel risks that include algorithm bias.