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Showing 791 - 800 of 2458 results for "Court"

NAB MySuper class action heads to Federal Court

JAMIE WILLIAMSON  |  MONDAY, 12 APR 2021
Maurice Blackburn's class action against MLC Nominees and NULIS Nominees has moved to the Federal Court, following a decision late last year. The class action brought by Maurice Blackburn against MLC Nominees and NULIS in January 2020 on behalf ...

Commonwealth seeks to stop bond class action

ELIZABETH MCARTHUR  |  FRIDAY, 9 APR 2021
... seeking to hold the Australian government to account over climate change risks, through a class action filed in the Federal Court last year. Yesterday, the court made orders setting out how the case will proceed. The court heard the Commonwealth wants ...

Junk insurance lands Westpac in court

KARREN VERGARA  |  THURSDAY, 8 APR 2021
ASIC is taking Westpac to the Federal Court, alleging it sold junk credit insurance to 384 customers that did not want it and whose accounts were unlawfully debited to pay for the premiums. The corporate regulator has exposed dodgy sales of add-on insurance ...

CBA to pay $7m for overcharged interest

ANNABELLE DICKSON  |  THURSDAY, 8 APR 2021
The Federal Court has imposed a $7 million penalty on Commonwealth Bank for charging higher interest rates on business overdraft accounts than what it advised its customers over a four-year period. Following an investigation by ASIC, CBA admitted to ...

ASIC sues CBA over monthly fees

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
... one million customers who met criteria that entitled them to fee waivers throughout 1 June 2010 and 11 September 2019. The court can impose a penalty for the period between 1 April 2015 and 11 September 2019 and ASIC alleges CBA incorrectly charged monthly ...

ASIC drops Caddick charges

ELIZABETH MCARTHUR  |  TUESDAY, 30 MAR 2021
... with not holding an Australian financial services licence when she was required to. On March 30 at Downing Centre Local Court in Sydney, ASIC withdrew all these charges. The news comes after police confirmed that a running shoe containing human remains ...

DDO to simplify general, personal advice

ANNABELLE DICKSON  |  TUESDAY, 30 MAR 2021
The outcome of the High Court decision on general advice will have an interesting and simplifying effect on the design and distribution obligations coming into effect later this year, according to a lawyer. Speaking at a Financial Services Council (FSC) ...

Investment bonds a good alternative to Wills: GDG

KANIKA SOOD  |  FRIDAY, 26 MAR 2021
... Services Forum for the year, Salsbury said investment bonds can be good alternatives to Wills, which may be challenged in court and trusts, and can be expensive to establish and run. "Investment bonds are becoming very mainstream in the adviser community," ...

Mayfair found to have misled

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 MAR 2021
ASIC's court action against Mayfair 101 has been successful, with the Federal Court finding its advertisements for debenture products were misleading. The court found Mayfair Wealth Partners trading as Mayfair Platinum, Online Investments trading as ...

RBNZ puts Westpac on notice

ANNABELLE DICKSON  |  WEDNESDAY, 24 MAR 2021
... development in New Zealand follows APRA's review into Westpac's risk governance leading both parties agreeing to a court enforceable undertaking (CEU). The CEU requires Westpac to develop an integrated plan that incorporates all major risk governance ...