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More law firms may soon be targeted in a lawsuit brought by defunct financial advisor Dover Financial alleging three law firms provided negligent advice concerning an inaptly titled 'client protection policy', which a judge recently found was "highly misleading" and "an exercise in Orwellian doublespeak".
A judge has warned AUSTRAC that it needs to finalise its case against Westpac over anti-money laundering breaches as the regulator readies a slew of new claims, quashing any hopes of a trial this year.
Mayfair 101 has agreed to cease using the brand name Mayfair Platinum to settle a trade mark dispute brought by ASX-listed fund manager Platinum Asset Management.
ANZ has denied claims that it sold allegedly worthless insurance to group members in a class action against the banking giant, and has said the policies gave customers "peace of mind".
Investment group Mayfair 101 has denied claims by ASIC that it has engaged in misleading or deceptive advertising of its Platinum products, saying in a response to the regulator's case the products were aimed at sophisticated investors who were told of the risks.
ASIC has slapped an Australian unit of French investment bank Société Générale with additional licence conditions for failing to comply with its obligations for handling client money over a near four-year period.
Westpac is facing the possibility of more claims in proceedings brought by AUSTRAC over anti-money laundering breaches, with the regulator seeking information on 272 customers who may have been involved in the exploitation of children.
The former CEO of Beem It has discontinued her legal claims against the payments fintech co-owner, Commonwealth Bank of Australia, only days after naming the bank in her lawsuit alleging workplace breaches.
Former celebrity advisor Sam Henderson, who was slapped with a three-year financial services ban last year after his appearance at the banking royal commission, has been charged with multiple dishonesty offences.
The Commonwealth Bank of Australia has become the latest Big Four bank to be hit with a class action over the sales of allegedly worthless insurance products.