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Showing 101 - 110 of 259 results for "Class action"

New class action regulations slammed

ALLY SELBY  |  FRIDAY, 24 JUL 2020
... unless your motive is to stymie class actions. No wonder ASIC was so thoroughly baffled by the Treasurer's idea." "A class action is a method through which ordinary Australians can seek justice when they've been hurt by a corporation. To suggest class ...

Westpac found to be immature, reactive

ELIZA BAVIN  |  FRIDAY, 17 JUL 2020
Westpac publically released the findings from its Culture, Governance and Accountability (CGA) Reassessment Report, which labelled the bank "immature" and "reactive". The bank first completed a self-assessed CGA back in November 2018, however decided ...

Litigation funding fight heats up

ELIZABETH MCARTHUR  |  MONDAY, 13 JUL 2020
... Parliamentary Joint Committee, Corporations and Financial Services looking into litigation funding and the regulation of the class action industry sparked a heated debate today. Menzies Research Centre chief of staff James Mathias was questioned on the ...

BT un-aligns group insurance, awards mandate

ELIZABETH MCARTHUR  |  WEDNESDAY, 8 JUL 2020
... on cash earning was estimated at $70 million. Westpac and Westpac Life Insurance Services are currently facing a class action from policy holders arguing that the recommendations made by Westpac aligned financial advisers breached fiduciary and statutory ...

AMP should stop whining: Slater and Gordon

ELIZABETH MCARTHUR  |  THURSDAY, 2 JUL 2020
... actions AMP was currently facing. After answering that AMP is facing two actions, De Ferrari offered his view of the class action system in Australia. He cited a report from the Menzies Research Centre, which claimed Australia is one of the most desirable ...

Government offers guidance provision relief

HARRISON WORLEY  |  TUESDAY, 26 MAY 2020
Company directors will not be liable for missing financial guidance targets for the next six months, after the government temporarily amended continuous disclosure provisions to help firms through COVID-19. The amendments, introduced today, ensure companies ...

IOOF settles class action

JAMIE WILLIAMSON  |  MONDAY, 25 MAY 2020
... it on the back of the Royal Commission. The wealth group announced to the ASX this morning it has settled in the class action brought by Quinn Emanuel Urqhart & Sullivan in April 2019. The class action alleged IOOF engaged in misleading or deceptive ...

Litigation funders will need AFSLs

ELIZABETH MCARTHUR  |  FRIDAY, 22 MAY 2020
... of litigation funding in Australia, Omni Bridgeway is a supporter of additional regulation that would improve the class action system," the company said. The litigation funder said it supported a licensing regime that would include capital adequacy requirements ...

Court confirms Storm Financial founders breached duties

JAMIE WILLIAMSON  |  FRIDAY, 27 MAR 2020
... million in compensation from Commonwealth Bank, $82.5 million in compensation from Macquarie Bank as part of a related class action, and $17 million in compensation from Bank of Queensland for those clients who borrowed through the bank to invest. They ...

ASIC drags CFS to court over MySuper

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
... stay in super options with commissions and/or higher fees in an effort to maintain revenue. Elkins is named in a class action on the matter filed by Maurice Blackburn Lawyers, which alleges CFS' implementation of the MySuper reforms was slow and ...