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ASIC says payday lenders Cigno, BSF and their directors should pay $150 million in penalties, arguing a judge should not have found they were entitled to a reduced $7 million in penalties because they had relied on legal advice from Piper Alderman.
Sequoia Financial Group subsidiary Interprac is pursuing a victim of the Shield and First Guardian investment funds failure as part of litigation against the financial complaints watchdog.
Zip Co will have to rebrand after losing a challenge to non-bank lender Firstmac’s ‘Zip’ trade mark, with the High Court finding the honest concurrent use is to be judged by the standards of “ordinary, decent people”, not a subjective “Robin Hood” test.
A former United Global Capital financial adviser who was banned from registering as financial adviser for two years has been hit with a three-year ban following an unsuccessful review to the Administrative Review Tribunal.
A former Mastercard business development director has admitted at trial to lying to the payments giant's finance department about the risk of 7-Eleven routing transactions to EFTPOS to seal a deal.
Lander & Rogers has nabbed a finance partner from Corrs Chambers & Westgarth, who says his clients have been enthusiastic about his shift to a somewhat smaller firm.
Trial in a case alleging Mastercard misused its market power by striking deals with retailers to defend revenues against EFTPOS routing has heard external competition lawyers suggested removing the word 'routing' from its contract with Woolworths.
The corporate watchdog’s first case under internal dispute resolution regulations has had mixed results, with a court finding compliance failures by Telstra Super but no under-resourcing.
Mastercard risked losing half its revenue from retail interchange fees as a result of the Reserve Bank's least-cost routing initiative, and struck deals with top retailers to defend its core business, a court was told Wednesday.
A trial judge has heard that Mastercard's top Australian executives discussed stripping Woolworths of strategic merchant status if the supermarket giant routed customer transactions through the cheaper EFTPOS network.