A judge has ordered two AMP units to pay a total of $24 million after finding the wealth manager acted unconscionably in charging insurance premiums and advice fees to deceased customers.
ANZ will no longer contest liability at trial in a case by the regulator over more than $10 million in cash advance fees charged to the credit card accounts of hundreds of thousands of customers.
A judge has ordered MLC to pay $10 million for its “serious failure” to pay life insurance benefits to customers undergoing rehabilitation, in an ASIC case that also alleged the insurer failed to promptly update medical terms in policies.
The Australian Securities and Investments Commission has dragged lender Money3 to court for allegedly failing to properly assess the creditworthiness of low-income individuals before saddling them with $11,000 loans for second-hand car purchases.
The Australian Securities and Investments Commission has launched an investigation into whether Nuix’s current Chief Executive Officer Jonathan Rubinsztein unlawfully bought shares in the company after learning about a potential takeover offer.
A court has tossed a conviction secured in ASIC’s case against a director of collapsed flight booking platform Fly365, saying the case was “doomed to failure.”
The applicant in an investor class action over the collapse of advisory firm Linchpin Capital and Endeavour Securities has raised concerns about the authenticity of Linchpin’s business records, which it wants to put into evidence at trial in two months.
A former director of Australian Mines has copped at $70,000 penalty in ASIC proceedings accusing him of making false and misleading representations at mining investment conferences in 2018.
Insurance Australia has agreed to pay a $40 million penalty in a case by the Australian Securities and Investments Commission alleging it short-changed NRMA customers a staggering $60 million in promised loyalty discounts.
A court has appointed a referee to examine whether a law firm’s communications with Golden Financial furthered a plan by the financial advisory firm to divert assets to minimise a penalty sought by the corporate regulator in the first case alleging a breach of the so-called best interest duty.