Former director of event management company the Human Group, Helen Rosamond, has been sentenced to a 15-year aggregate term of imprisonment for defrauding NAB of $19 million, and will have to serve eight years of the sentence behind bars.
The corporate watchdog has cancelled the AFS licence of FTX Australia, the Australian subsidiary of collapsed cryptocurrency exchange FTX.
Wealth manager Colonial First State Investments has agreed to pay $100 million to resolve a consumer class action alleging it charged excessive fees on superannuation accounts, in one of the biggest class action settlements of the year so far.
National Australia Bank says employees suing the company for years of alleged unpaid overtime have failed to prove the work asked of them was unreasonable, in response to a test case that could affect up to 10,000 staff.
The Commonwealth Bank has failed again to dismiss a case brought by customers who claim they were the victims of a money laundering scam known as cuckoo smurfing and had funds seized as proceeds of crime.
Online trading platform IG Markets is facing more scrutiny over its marketing of risky financial products, with a third law firm investigating a class action for everyday investors who have lost money.
ASIC has won orders declaring that Gold Coast-based BHF Solutions and Cigno needed a credit licence to issue loans to hundreds of thousands of customers, after the High Court tossed a challenge by the payday lenders.
The Finance Sector Union has brought action in the Fair Work Commission over the Commonwealth Bank’s decision to force employees to return to the office.
Retail broker Openmarkets has paid the largest ever penalty handed down by ASIC’s markets disciplinary panel, with the regulator also banning its former trading head for three years.
The lead applicant in a class action against AMP Financial Planning on behalf of 542 advisers has won $813,000 in damages after a judge found it could not retreat from a promise to buy back adviser businesses at four times their revenue.