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Showing 51 - 60 of 96 results for "class actions"

Westpac hit with another class action

ELIZA BAVIN  |  FRIDAY, 13 MAR 2020
... identify the amount of any damages sought." Westpac said it will be defending the claim, as it has said for the other class actions filed against it. Prior to this proceeding being filed, Westpac said it expects around $80 million in additional expenses ...

IOOF faces new class action

ELIZABETH MCARTHUR  |  TUESDAY, 25 FEB 2020
... extensive wrongdoing within the financial services sector," Litigation Lending chief executive Stuart Price said. "Class actions like the IOOF class action require the management of financial services companies such as IOOF to account for alleged failures ...

Westpac forks out $80m for AUSTRAC scandal

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
... to the ASX, in which it outlined its progress on its response plan for the AUSTRAC case along with the subsequent class actions and regulatory investigations. In November last year AUSTRAC applied to the Federal Court seeking civil penalty order against ...

De Ferrari unaware of legal action

ELIZA BAVIN  |  THURSDAY, 13 FEB 2020
... Enterprise Ombudsman Kate Carnell called on small business financial advisers to reach out after news of pending class actions against AMP were highlighted by media. "Following recent media reports regarding AMP Financial Planning's restructure of its ...

NAB further delays offloading MLC

ELIZABETH MCARTHUR  |  THURSDAY, 13 FEB 2020
... "Customer-related remediation programs and regulatory compliance investigations (including associated enforcement actions and class actions) are continuing, with potential for additional charges although amounts and timing remain uncertain."

AMPFPA action progresses, associations merge

JAMIE WILLIAMSON  |  WEDNESDAY, 12 FEB 2020
... executive Neil Macdonald said the filing of the action was delayed by a High Court decision in December around how class actions are funded, requiring law firm Corrs to sign up a minimum number of advisers to the action to ensure viability. With a series ...

Class action accuses CFS of dodgy insurance fees

ELIZABETH MCARTHUR  |  THURSDAY, 23 JAN 2020
... insurance as well as total and permanent disability insurance, and this has eaten into their superannuation," Shine class actions practice leader Rebecca Jancauskas said. "Many of these people are approaching retirement and now their nest egg has shrunk ...

Class action accuses NAB of super rip-off

ELIZABETH MCARTHUR  |  WEDNESDAY, 22 JAN 2020
... time, when they could have been in a cheaper, better overall MySuper product," Maurice Blackburn national head of class actions Andrew Watson said. "This is another regrettable case of mismanagement in the superannuation sector. The whole point of the ...

Wealth giants shrink advertising budgets

KANIKA SOOD  |  FRIDAY, 17 JAN 2020
... years, documents from the Standing Committee on Economics show. Colonial First State, which is currently facing two class actions, spent only $1.68 million on its campaigns for FY18/19, down significantly from the over $6 million that it shelled out ...

CFS culls grandfathered commissions, slashes fees

KANIKA SOOD  |  FRIDAY, 6 DEC 2019
... delivering better outcomes to the members while supporting advisers by giving them information early," she said. Class actions The business is currently facing two class actions. Maurice Blackburn Lawyers is alleging delayed transitioning some members ...