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The Australian Securities and Investments Commission has taken legal action against National Australia Bank alleging thousands of violations of the law through its fees for no service conduct, exposing the bank to the risk of significant penalties.
The Australian Securities and Investments Commission has taken legal action on another referral from the banking royal commission, dragging life insurer TAL to court for allegedly engaging in misleading and deceptive conduct in its handling of a claim for coverage.
The Australian Prudential Regulation Authority has flagged potentially "substantial gaps in risk governance" by Westpac as it formally kicked off an investigation into the bank and its executives for potential breaches of the Banking Act.
The High Court will hear food manufacturer Mondelez' challenge to a ruling that struck down its method for calculating workers' personal days.
The High Court will not hear an appeal by the ABC and Nine seeking to revive their truth defence in a defamation lawsuit brought by Chinese businessman Chau Chak Wing.
The State of Queensland will not appeal a ruling that found it, as well as the operators of two Queensland dams, were negligent in the 2011 floods in the Southeast region of the state that left over 2,000 homes destroyed.
The Australian Competition and Consumer Commission will get an additional $26.9 million to take on Google and Facebook, but the Federal Government will proceed more slowly in implementing some of the more wide-ranging proposals in the regulator's final digital platforms report, including suggested changes to privacy and merger review laws.
The Australian liquidator of Lehman Brothers has filed a lawsuit seeking $40 million from Fitch Ratings for assigning too-rosy ratings to toxic financial products sold by the bank, following the discovery of a hidden table in Fitch's rating model by the lawyers leading a now-settled class action against the accounting firm.
Westpac has filed a special leave application with the High Court seeking further clarity on the line between personal and general advice under financial services laws, after an appeals court handed ASIC a significant win in finding the bank violated its duty to act in its customers' best interests during a superannuation rollover campaign.
US biotech giant Gilead has struck back at a patent infringement lawsuit brought by a specialist HIV pharmaceutical company majority owned by GlaxoSmithKline, saying the patent at the centre of the lawsuit is invalid.