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S&P Global will pay $215 million to settle six consolidated class actions brought by investors over toxic CDOs, a figure revealed by the Federal Court on Thursday despite calls that it be kept secret.
A tribunal has set aside a life-long ban of a successful former ANZ financial advisor accused by ASIC of lying about his qualifications, saying the advisor's "insight into his own behavior" had changed.
The US securities regulator is reportedly looking into Facebook's disclosures to investors about the harvesting of user data by political research firm Cambridge Analytica, as the company faces the threat of a privacy class action in Australia over the data debacle.
IMF Bentham is considering funding a privacy class action against Facebook for allowing political research firm Cambridge Analytica to harvest information from the Facebook accounts of over 311,000 Australians.
S&P Global Ratings and ANZ Banking Group have agreed to settle seven class actions over toxic financial products given healthy credit ratings ahead of the global financial crisis.
As the ACCC's criminal cartel case against ANZ, Citigroup and Deutsche Bank gets underway, the regulator will face off against a formidable team of lawyers with extensive experience in defending competition matters.
High-ranking bank officials, including the former CEOs of Citigroup and Deutsche Bank in Australia, are among the executives charged over a cartel involving a $2.5 billion ANZ institutional share placement.
ANZ, Deustche Bank and Citigroup will be hit with criminal charges over an alleged cartel involving the institutional equity placement of ANZ shares that raised $2.5 billion in capital.
Commonwealth Bank of Australia has admitted a breach of data affecting nearly 20 million accounts, but said Thursday there was no evidence that customers' details were stolen.
Facebook has struck back at calls for regulation of digital platforms that distribute news content, saying consumers stand to lose from regulatory meddling.