Online trading platform Trade360 will close shop at the end of the month, following an ASIC investigation that found its representatives at an offshore call centre provided personal advice to clients which the company was not licensed to give.
Bank of Queensland is the first bank to be caught for alleged breaches under the new Consumer Data Right scheme, paying a $133,200 penalty.
A judge has ordered a defunct telecommunications company to pay $450,000 in penalties for flouting orders requiring it to pay out over $63,000 to its customers.
A judge has ordered that a competition class action against Queensland power companies Stanwell and CS Energy be made open to all energy consumers in the state, saying it was not a “plain vanilla” commercial class action.
A judge has signed off on a $4.7 million settlement in two investor class actions against collapsed sandalwood producer Quintis, two year after an earlier settlement was scuttled as group members kicked off an insurance dispute in pursuit of a better return.
A litigation funder has reaped $7.5 million from the sale of a 20 per cent stake in a shareholder class action against the Commonwealth Bank of Australia over the bank’s allegedly lax money laundering compliance.
Channel Seven has asked the Federal Court to terminate a Test cricket and Big Bash League broadcast agreement with Cricket Australia due to alleged contract breaches.
Virgin Australia has been ordered to disclose whether its insurer has agreed to indemnify it for any liability it may have in a shareholder class action over a prospectus for a $324 million capital raising just months before it filed for administration.
Origin Energy has been hit with a record $17 million penalty for violating its obligation to protect financially vulnerable customers, including by disconnecting the services of some who were on a payment plan.
Ultra Tune is facing contempt of court proceedings for allegedly breaching a judge’s orders and failing to meet the requirements of a court-ordered compliance program, instituted after the company copped a $2 million fine for contravening its disclosure obligations to franchisees.