The competition regulator has filed court action seeking an injunction to stop Virtus Health from completing the purchase of rival Adora Fertility on Friday while a merger review is still in progress.
The Commonwealth Bank’s wealth management unit has agreed to cough up $20 million in penalties for misleading thousands of fund members during the transition to MySuper accounts, but steadfastly maintains its conduct was not part of a “nefarious” plot for profits.
The Australian Securities and Investments Commission has cancelled the licence of embattled former accountant Vanda Gould.
A judge overseeing a cartel case over a $2.5 billion ANZ share placement has granted ANZ’s bid for unredacted documents which the bank says will support its claims that the case should be permanently stayed because of improper dealings between whistleblower JPMorgan, ASIC and the ACCC.
The Fair Work Ombudsman has taken the Commonwealth Bank of Australia and CommSec to court for allegedly knowingly underpaying almost 7,500 employees over $16.4 million through the use of individual agreements.
The Australian Securities and Investments Commission has launched court proceedings against superannuation trustee Diversa for allegedly failing to take appropriate action in response to a financial advisor who was under investigation.
Supermarket giant Woolworths will pay an additional $50 million to current and former salaried team members and has provisionally settled an underpayments class action against it.
IOOF unit RI Advice has lost its bid to strike out ASIC’s novel case claiming it failed to protect its clients against cybersecurity risks, but a judge has chastised the regulator for causing “needless confusion” and “wasted time”.
The Australian Competition and Consumer Commission has launched an investigation into logistics company Qube’s recent $90 million acquisition of the Newcastle Agri Terminal.
The Australian Taxation Office has won an urgent bid to freeze the assets of James Raptis and 11 associated entities, after accusing the Queensland property developer of dodging $109.5 million in taxes since 2000.