Most Recent
CBA’s former boss Ian Narev grilled over internal audits 4 years before AUSTRAC action
Class Actions 2022-11-14 10:02 pm By Christine Caulfield

The former chief executive of Commonwealth Bank has told a court internal auditors raised issues with CBA’s anti-money laundering and counter-terrorism financing compliance four years before AUSTRAC took action that saw the bank’s share price plummet.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

End of the road for AI inventions, as High Court rejects patent appeal
Intellectual Property 2022-11-11 6:49 am By Cat Fredenburgh

The High Court will not wade into the global debate over whether artificial intelligence inventions should receive patent protection, letting stand a Full Court judgment that overturned a landmark victory for AI pioneer Dr Stephen Thaler.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Telcos hit with $33.5M in penalties over NBN speed claims
Telecommunications 2022-11-11 1:02 pm By Sam Matthews

A judge has hit Optus, Telstra, and TPG with a total of $33.5 million in penalties for misleading thousands of NBN customers into paying for internet speeds that could not be achieved.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Court slaps Smile Direct Club with $3.5M penalty for misleading insurance claims
Competition & Consumer Protection 2022-11-11 6:12 am By Cat Fredenburgh

A judge has ordered Smile Direct Club and its Australian unit to pay a $3.5 million penalty and reimburse customers for misleading them into believing they would be reimbursed by their insurers for the dental care company’s costly teeth straighteners.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ACCC calls for new regulatory regime for digital platforms
Competition & Consumer Protection 2022-11-11 4:04 pm By Sam Matthews

The Australian Competition and Consumer Commission has called for a suite of new laws to curb “widespread, entrenched, and systemic” consumer and competition issues on digital platforms.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Optus agrees to $13.5M penalty for misleading NBN customers
Competition & Consumer Protection 2022-11-10 1:39 pm By Sam Matthews

Optus has agreed to pay a $13.5 million penalty for misleading thousands of NBN customers into paying for internet plan speeds that could not be achieved, the telco’s third penalty in four years over misleading representations made in relation to its NBN services.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

CBA says disclosing money laundering failures would have misled the market
Trials 2022-11-09 9:16 pm By Cindy Cameronne

The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Liberty Financial appeals partial victory for ATO
Tax 2022-11-09 10:33 pm By Cat Fredenburgh

Liberty Financial unit Minerva has challenged a judgment that found two schemes it carried out were done with the primary purpose of securing a tax advantage.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Trial pokes holes in CBA’s claim of ‘cordial’ relationship with AUSTRAC
Trials 2022-11-08 10:04 pm By Cindy Cameronne

While CBA’s defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Ex-Courtenay House director pleads guilty over $180M Ponzi scheme
White Collar 2022-11-08 9:26 pm By Sam Matthews

The former director of investment management fund Courtenay House has pleaded guilty to five criminal charges after an ASIC investigation revealed he duped 585 investors in a $180 million Ponzi scheme.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?