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The former director of collapsed investment advisor Linchpin Capital hit hardest by a judgment disqualifying him and three other directors and levying a combined $390,000 in penalties has filed an appeal.
International Capital Markets may soon face a third class action, a court has heard, as the first two class actions to be filed against the Sydney-based online broker over risky contracts for difference mull consolidation.
Digital currency exchange Block Earner needed a licence to offer its crypto-backed Earner product, a court has found in one of the first decisions on the application of financial services law to crypto investments.
Online broker International Capital Markets has been hit with a second class action for selling “excessively risky” derivative products known as contracts for difference to retail investors.
Two firms have agreed to consolidate their class actions against online trading platform IG Markets over risky CFDs, but the company failed in a bid to have the two funders behind the cases liable for 100% of any security for costs order lest one funder defaults.
A director of defunct investment scheme A One Multi, which allegedly raised $25 million in funds, has been charged with nine counts of running a financial services company without a licence.
A former PricewaterhouseCoopers partner has sued the firm for denying him retirement payments for moving to alleged competitor DLA Piper and for his alleged involvement in the firm’s tax leaks crisis.
A judge has reluctantly hit Westpac with a $1.8 million penalty after the bank admitted to unconscionable conduct when trading on the morning of a $16 billion deal to privatise electricity provider Ausgrid, saying it was the maximum fine allowed under the relevant law.
A former wealth manager faces action by the corporate regulator for contempt of court after he allegedly breached a court order banning him from involvement in financial services.
COVID-19 lockdowns may have ended years ago but the impacts on small businesses are only now being seen, with larger companies likely to suffer a “contagion effect” in 2024, says K&L Gates’ newest partner.