It was “fundamentally wrong” that AMP Financial Planning paid consultant PricewaterhouseCoopers significantly more to review a court-ordered remediation than was paid to customers who suffered loss after an adviser churned life insurance policies for higher commissions, a judge has said.
ASIC has issued an interim stop order barring a Melbourne-based investment broker from opening trading accounts or dealing in contracts for difference or margin foreign exchange contracts to retail investors.
The Australian Securities and Investments Commission has revoked an interim stop order against Aussie fintech Humm Group, which had been preventing the company from selling its buy now, pay later product to new customers. Humm revealed the news in an announcement on Monday, only days after the order was issued out of concerns around the…
The Australian Securities and Investments Commission has hit fintech Humm Group with an interim stop order barring it from issuing buy now, pay later products to new customers.
The New South Wales deputy state coroner has concluded that accused conwoman Melissa Caddick is dead, but questions remain about the circumstances of her death.
A former director of defunct mining and exploration company Continental Coal has been sentenced to eight months’ imprisonment for failing to act in good faith in performing his directors’ duties in relation to $1 million in bridging finance.
A judge has ordered two AMP units to pay a total of $24 million after finding the wealth manager acted unconscionably in charging insurance premiums and advice fees to deceased customers.
A former executive assistant of accused Ponzi schemer Chris Marco is facing charges linked to an alleged $29.5 million fraud against investors.
A judge has ordered MLC to pay $10 million for its “serious failure” to pay life insurance benefits to customers undergoing rehabilitation, in an ASIC case that also alleged the insurer failed to promptly update medical terms in policies.
ANZ will no longer contest liability at trial in a case by the regulator over more than $10 million in cash advance fees charged to the credit card accounts of hundreds of thousands of customers.