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Showing 61 - 70 of 100+ results for "class action"

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 ...

Westpac hit with another class action

ELIZA BAVIN  |  FRIDAY, 13 MAR 2020
Westpac confirmed it has been hit with another class action relating to the AUSTRAC scandal. The class action, brought by Johnson Winter & Slattery, has been filed on behalf of certain shareholders who acquired interest in Westpac securities or equity ...

MLC changes super fees, adds menu

KANIKA SOOD  |  WEDNESDAY, 11 MAR 2020
... ASIC for over $100 million in illegitimate fees. The MLC MasterKey Business Super and Personal Super are facing a class action from Maurice Blackburn on behalf of 330,000 customers. The class action alleges MasterKey Business Super and Personal Super ...

IOOF restructures leadership team

HARRISON WORLEY  |  MONDAY, 2 MAR 2020
... efficient and engaging solutions for advisers, investors, members and employers." Last week the firm was hit with another class action on behalf of shareholders, with Shine Lawyers launching action against the firm. The law firm conducted an investigation ...

IOOF faces new class action

ELIZABETH MCARTHUR  |  TUESDAY, 25 FEB 2020
Shine Lawyers today commenced a new class action against IOOF on behalf of shareholders. Shine Lawyers conducted an investigation into misconduct at IOOF which included obtaining a Federal Court order for IOOF to produce documents relevant to the alleged ...

Westpac forks out $80m for AUSTRAC scandal

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
Westpac said it expects $80 million in additional expenses in FY20 as parts of its response plan in relation to the AUSTRAC scandal. The bank provided a company update to the ASX, in which it outlined its progress on its response plan for the AUSTRAC ...

De Ferrari unaware of legal action

ELIZA BAVIN  |  THURSDAY, 13 FEB 2020
... if it comes," De Ferrari said. This week the AMP Financial Planners Association (AMPFPA) said it is anticipating a class action will be filed on behalf of its members later this month. AMPFPA chief executive Neil Macdonald told Financial Standard law ...

NAB further delays offloading MLC

ELIZABETH MCARTHUR  |  THURSDAY, 13 FEB 2020
National Australia Bank in its quarterly update flagged another delay to the separation of MLC Wealth. NAB said that due to a challenging business environment, the separation of MLC Wealth may be delayed beyond financial year 2020. "Work on operational ...