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Australia's securities regulator will soon have a new mandate - overseeing competition in the financial sector.
The consumer regulator has launched enforcement action against Equifax, accusing the credit reporting company of duping vulnerable customers into paying for credit reports that were only as good as its free reports.
ASIC put banks and other lenders on notice Thursday that unfair lending contracts aimed at small business will be an enforcement priority for the securities regulator.
Australia's largest banks are weak when it comes to offering competitive prices on residential mortgages, Australia's consumer regulator said Thursday in the first review undertaken by its newly formed financial services unit.
Slater and Gordon is mulling a class action against Australian banks over credit card insurance, which the firm describes as "worthless" and "junk" because many people who are sold the insurance are not eligible to make a claim.
The former head of collapsed debenture firm Provident Capital has gotten court approval to appeal a ruling banning him from managing companies.
A judge has called for a referee to look at Maurice Blackburn's fees for running a shareholder class action against QBE Insurance that settled late last year for $133 million.
The Australian Competition and Consumer Commission said it is well positioned to investigate competition in the financial sector, in response to a recent report calling for a dedicated financial services competition regulator.
The Bank of Queensland has reached a settlement close to trial in a class action brought by investors in a multi-million dollar Ponzi scheme masterminded by jailed scammer Bradley Sherwin.
It might be in the glare of a government inquiry, but business is booming for Australian litigation backer IMF Bentham, which values its current caseload at $4.7 billion.