Shareholders of Commonwealth Bank have lodged expected appeals challenging a decision tossing their class actions over alleged lax money laundering compliance, giving the Full Federal Court a chance to clarify when companies must disclose regulatory investigations.
A judge has expressed concern about the Australian Securities and Investments Commission’s suspicion that a former director of Keystone Asset Management may have used investor funds to purchase a house in his wife’s name, calling it “alarming”.
AMP’s former head of advice Jack Regan has filed proceedings against the owner of The Australian, Nationwide News, over a story he claims defamed him by alleging he misled ASIC over the charging of fees for no service.
ASIC has secured freezing orders over the assets of an investment fund managed by Keystone Asset Management, with a court also ordering a Keystone director to surrender his passport amid an investigation by the corporate regulator.
Trial in ASIC’s action accusing former Dixon Advisory director Paul Ryan of breaching his duties began Monday, a case that puts the spotlight on legal advice over a deed that affected the wealth management firm’s capacity to recoup a $19 million debt on the eve of its collapse.
CBA-backed climate venture capital firm Wollemi has defeated a challenge by Tesla CEO Robyn Denholm’s family office to registering its name as a trade mark, with a delegate finding the family’s private investment vehicle of the same name did not use the mark in trade or commerce.
Westpac has secured confidentiality orders blocking the release of details of an adverse action case by its former head of strategy, after arguing that publicity would hamper settlement talks and force it to defend itself in the media.
A director of two Paladin Group units is entitled to rely on the privilege against self-exposure to penalty in defending a case brought by the Australian Securities and Investments Commission, a court has heard.
Ord Minnett must pay years of wages and other entitlements to a wealth adviser who was only remunerated by commission payments, after a judge found he was covered by the finance industry award, in a decision that could reverberate throughout the industry.
A judge has scorned a bid by the directors of John Bridgeman and JB Markets to represent the companies in a case brought by investment fund Benjamin Hornigold, suggesting the companies seek pro bono or community legal assistance.