A judge overseeing a class action against Colonial First State Investments has raised concerns about a $655 million dividend to CBA, questioning whether group members’ recovery could be in danger.
A former JPMorgan executive has been charged with eight counts of fraud for allegedly misappropriating $940,350 from clients of his defunct companies, Guevara Capital and Online Trading Capital.
IPH Limited, which owns IP firms Spruson & Ferguson and Griffith Hack, and lender Latitude Financial have become the latest victims of cyberattacks, with the latter revealing the personal data of hundreds of thousands of customers has been stolen.
ANZ has been hit with a $10 million penalty in a case brought by the Australian Securities and Investments Commission alleging the bank’s home loan ‘introducer’ referral program breached credit laws.
The owner of Chinese social media giant TikTok has lost its challenge to the registration of a trade mark for home loan tech startup Tic:Toc.
The Finance Sector Union has launched a test case against National Australia Bank on behalf of four managers who were allegedly required to work “unreasonable” unpaid hours for years and has warned it will go after the other big banks next.
A law firm has won its second bid for a group costs order in three class actions against banks over flexible commission schemes after a judge in 2021 rejected what was then the first-ever application for a contingency fee.
Two former executives of investment fund Benjamin Hornigold Limited have been charged with offences related to $3.8 million in payments.
A class action against KPMG and nine former Gunns Plantations directors over the failure of six managed investment schemes for eucalyptus wood in Tasmania has settled for a confidential amount, with a judge poised to approve the deal.
The Australian Securities and Investments Commission has launched the first-ever civil penalty case for greenwashing, alleging Mercer Superannuation misled investors about the sustainability of its investment options.