Industry super funds AustralianSuper and IFM Investors – the consortium behind the interest rate swap at the centre of the corporate watchdog’s insider trading case against Westpac — have asked a judge to shield commercially sensitive information from the public as the high-profile action unfolds.
A tribunal has rejected a bid for review of ASIC’s decision to permanently ban an RI Advice financial planner who was accused of double charging his clients.
A judge has awarded $43 million to National Australia Bank in its lawsuit against former directors of failed retailer Dick Smith, but threw out claims against company directors brought by HSBC and the retailer’s receivers.
Investors who entrusted their retirement savings to deceased fraudster Melissa Caddick may launch a class action against the auditors that signed off on financial statements for the funds.
Westpac has shot back at a lawsuit brought by ASIC over the selling of alleged poor value insurance products, with the bank saying its customers had agreed to take out the “optional” coverage.
A judge has gutted a defence and counterclaim filed by the biggest unitholder in investment fund Vale in a battle with a litigation funder and liquidators over agreements to join two class actions against S&P Capital, a fight that threatened to hold up one of the class actions.
Criminal charges have been laid against the auditor of stockbroker Halifax Investment Services, whose 2008 collapse left around $200 million in client funds trapped, in the first criminal charges brought over auditing services in Australia.
AUSTRAC’s long-running investigation into NAB’s compliance with anti-money laundering and counter-terrorism financing laws has progressed, with the matter being referred to the financial crime regulator’s enforcement team.
A judge has extended an injunction barring a former manager of non-bank lender Liberty Financial from working for a unit of Wingate Group until after trial in a case over a restraint clause in the executive’s contract.
A Victoria Supreme Court judge weighing for the first time an application by a law firm for a percentage cut of recoveries in class actions has been told to reject the bid because group members would fare better under the firm’s current no win, no fee funding arrangement.