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Showing 11 - 20 of 96 results for "class actions"

QSuper settles $67m class action

ANDREW MCKEAN | WEDNESDAY, 28 MAY 2025

... will determine the process for distributing the settlement amount to eligible members. Shine Lawyers joint head of class actions Craig Allsopp welcomed the settlement. Allsopp said the settlement brings "long-awaited relief" to affected fund members ...

AMP super class action finally hits court

JAMIE WILLIAMSON | TUESDAY, 27 MAY 2025

... with the trial kicking off today. In 2019, following the Royal Commission, several law firms sought to commence class actions against AMP in relation to fees charged to superannuation members. Slater and Gordon and Maurice Blackburn were among the firms ...

Court approves Caddick SMSF class action settlement

KARREN VERGARA | WEDNESDAY, 2 APR 2025

... action was settled in the 18-month timeframe, Chapman said, noting that this was particularly pleasing given that class actions tend to take much longer and that many of Caddick's victims are retirees. Justice Markovic approved the settlement amount ...

Misconduct cases soar at CBA

ELIZA BAVIN | WEDNESDAY, 14 AUG 2024

... offender. CBA also updated shareholders on its current litigation and regulatory matters. It said there are seven class actions against it which are ongoing, including two shareholder class actions, two in relation to superannuation products, two related ...

Federal Court rejects two CBA class actions

KARREN VERGARA | MONDAY, 13 MAY 2024

The Federal Court shut down two class actions against Commonwealth Bank of Australia (CBA) relating to anti-money laundering and counter-terrorism financing (AML/CTF). AUSTRAC alleged as early as 2017 that the bank contravened the Anti-Money Laundering ...

Financial services class actions surge

JAMIE WILLIAMSON | WEDNESDAY, 20 MAR 2024

Following a brief reprieve, the number of class actions targeting the financial services sector escalated significantly in 2023. According to a report from Allens, the banking and financial services sector was the second biggest target for class actions ...

Commonwealth to disclose climate risks in sovereign bonds

ROSE MARY PETRASS | THURSDAY, 31 AUG 2023

... which the court will consider when making its decision on whether to approve the settlement. This occurs in all class actions in Australia. If approved, the settlement will require the government to publish a statement on the Department of the Treasury's ...

AMP settles class action for $110m

KARREN VERGARA | MONDAY, 21 AUG 2023

... misconduct by the Financial Services Royal Commission. In May 2019, the NSW Supreme Court ordered the litany of class actions levelled against AMP to merge into one after the Hayne Royal Commission exposed scathing revelations that included among other ...

CFS settles super fees class action

JAMIE WILLIAMSON | FRIDAY, 14 JUL 2023

... arrangements in place with financial advisers that were not in customers' best interests," Slater and Gordon class actions practice group leader Kirsten Morrison said. It is the largest settlement achieved by the law firm in a group proceeding to ...

Super, advice class actions dampen CBA results

KARREN VERGARA | WEDNESDAY, 15 FEB 2023

... continues to put out fires from its misconduct stemming from the Hayne Royal Commission, as it looks to tackle several class actions in 2023. One ongoing lawsuit alleges that Colonial First State Investments Limited (CFSIL) kept members from the CFS ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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