The government has given the ACCC a $35 million shot in the arm to bring more criminal cartel cases and investigate anti-competitive conduct.
The High Court has granted special leave to mortgage aggregator Connective in a dispute between the firm’s founder and major shareholders over a transfer of one-third of the company’s shares, in a case that could clarify whether litigation should be considered a prohibited form of financial assistance under the Corporations Act.
A judge has pushed the Australian Securities and Investments Commission into mediation with two NAB wealth management units in its case over $100 million in fees for no service, despite the regulator’s contention that mediation is not the best way to move the case forward.
The Australian Securities and Investments Commission has instituted new proceedings against AMP and its law firm Clayton Utz seeking documents related to the fees for no service investigation the law firm conducted for the wealth manager.
The Australian Securities and Investments Commission has lost a bid to have the Federal Court decide a threshold legal question in its dodgy home loan case against Westpac, which is going to trial after a $35 million settlement got the thumbs down.
The consumer watchdog has sought more than $1.5 million in penalties against debt collector ACM Group after the company was found liable for harassing vulnerable customers, but a judge on Tuesday questioned whether the fine, which could leave the company insolvent, was too punitive.
IOOF’s chairman and CEO are stepping down to defend against a Federal Court action by Australia’s financial regulator seeking to have them, along with three other executives of the embattled wealth manager, disqualified from acting as superannuation trustees.
The corporate cop’s case against Westpac over allegedly irresponsible lending practices will go to trial after the Federal Court rejected the bank’s $35 million settlement.
Australia’s financial regulator is seeking to have top executives and directors of IOOF disqualified from acting as superannuation trustees, the watchdog said Friday, as Shine Lawyers revealed it has been investigating a possible class action against the financial services firm for a year.
And then there were four. Plaintiffs law firm Slater & Gordon wants to consolidate its AMP shareholder class action with Maurice Blackburn’s case and hand over the reins to its rival, a deal signed the day the Full Federal Court affirmed the power of judges to shut down competing class actions.