Most Recent
Westpac, Societe Generale accuse software company of $263M fraud
Andrew Hourigan 2021-07-02 1:14 pm By Miklos Bolza Sydney
Westpac and French investment bank Societe Generale have obtained freezing orders over $263 million in assets in fraud cases brought against a Sydney software firm and its director, with a court hearing that other financial institutions may also be at risk from the alleged fraud.
Court finds trader was defamed by ASIC but throws out $10M lawsuit
Andrew Harding 2021-06-30 5:38 pm By Miklos Bolza Sydney
Canadian trader Daniel Schlaepfer has suffered a loss in his $10 million defamation case against ASIC, with an appeals court tossing the lawsuit despite finding the regulator defamed him and his firm by accusing them of unlawful market manipulation.
Mayfair 101’s James Mawhinney says he should not face penalty in ASIC case
ASIC 2021-06-30 1:15 pm By Cindy Cameronne Sydney
The founder of embattled investment group Mayfair 101, James Mawhinney, will argue that he should not be ordered to pay any penalty after the company was found to have misled investors about its financial products.
Payday lender Cigno loses bid to overturn ASIC’s short-term credit lending ban
Appeals 2021-06-29 10:35 pm By Cindy Cameronne Sydney
Payday lender Cigno has lost its appeal of a ruling which upheld ASIC’s first product intervention order banning the use of short-term lending models with “excessive” fees.
S&P class action applicant resists paying security for ratings agency’s costs
Banton Group 2021-06-29 5:13 pm By Christine Caulfield Melbourne
A fight is looming over a bid by S&P Global for a class action applicant to pay security for the legal costs of defending the litigation, with the applicant arguing it shouldn't have to fork over anything.
State Street appeals loss to Maurice Blackburn in Fearless Girl dispute
Appeals 2021-06-28 11:59 am By Cat Fredenburgh Melbourne
US financial services giant State Street has appealed its loss in a lawsuit brought against Maurice Blackburn over the law firm's use of a replica of the famous Fearless Girl statue.
Deloitte settles partner’s age discrimination lawsuit
Accounting 2021-06-24 5:13 pm By Cat Fredenburgh Melbourne
Deloitte has agreed to settle a $3.8 million lawsuit brought by a partner that challenged the accounting firm's mandatory retirement policy.
Judge tosses ASIC’s case against payday lenders Cigno, BHF
Adam Pomerenke 2021-06-23 9:47 pm By Cindy Cameronne Sydney
A court has dismissed ASIC’s enforcement action against payday lenders Cigno and BHF Solutions, finding the companies did not need a licence to issue loans to hundreds of thousands of consumers.
Lawyer to seek ‘no adverse costs’ order in cartel class action against Facebook, Google
Class Actions 2021-06-18 3:05 pm By Miklos Bolza Sydney
The self-represented lawyer behind a $1 billion class action against Facebook and Google over a cryptocurrency ad ban has said he will bring the first "no adverse costs" application to be heard by the Federal Court under the Competition and Consumer Act.
ASIC’s proposed $40M fee disclosure penalty ‘manifestly excessive’, NAB tells court
ASIC 2021-06-18 10:08 pm By Christine Caulfield Melbourne
National Australia Bank has urged a court to impose a $15 million penalty for its five-year failure to adequately disclose its adviser fees, and has argued ASIC's push for a steeper penalty goes too far.