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The Commonwealth Bank of Australia has offered $9.3 million since 2014 to customers that suffered loss when advisers in two of its financial planning units put their money into high-risk investments without their permission.
Charges in the criminal cartel case against ANZ, Citigroup and Deutsche Bank over a $2.5 billion ANZ institutional share placement have yet to be finalised, almost a year after the proceeding was filed.
ANZ Bank executives briefly considered relaunching and repricing a botched $2.5 billion equity capital raising at the heart of two groundbreaking enforcement actions, and the decision by the share placement's underwriters to instead pick up a $790 million shortfall deprived investors of lower priced shares, a court has been told.
An argument over the admissibility of an expert report produced by the Australian Securities and Investments Commission in its insurance churn case against AMP was sidestepped Monday, with a judge proposing experts from both sides instead file a joint report in the case.
A settlement has been reached in a class action against KPMG alleging it providing a misleading expert report to copper miner Discovery Metals that was used to reject a $830 million hostile takeover bid.
Container stevedore companies DP World Australia, Hutchison Ports Australia and Victoria International Container Terminal have agreed to change their standard form contracts with land transporters after the ACCC raised concerns that some terms of the agreements may violate the Australian Consumer Law.
Clayton Utz's advice to the Department of Education that it could supply details to the ACCC about documents seized in an Australian Federal Police raid of Phoenix Institute of Australia's offices was incorrect, the collapsed educational company told the court as it flagged a possible application to shut down the consumer watchdog's case.
Private construction company Hutchinson Builders has brought legal action against the Australian Competition and Consumer Commission, seeking to quash what it says is an invalid notice to produce documents to the regulator, which has vowed to bring cases against the construction industry this year.
The battle to acquire IP services company Xenith IP Group is set to intensify after the Australian Competition and Consumer Commission blessed a hostile offer by IPH Limited.