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Showing 71 - 80 of 302 results for "class action"

AMP provisions $50m in response to class action

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
Amid the Financial Adviser Class Action fallout, AMP has suspended its capital return, with a resolution expected by year-end. AMP has set aside a $50 million provision, reflecting its preliminary assessment of potential liabilities associated with ...

CFS settles super fees class action

JAMIE WILLIAMSON  |  FRIDAY, 14 JUL 2023
Colonial First State will pay $100 million to settle a class action over fees that were illegally charged to members to pay commissions to financial advisers. The action related to members of CFS FirstChoice and conduct carried out between July 2013 ...

AMP loses BOLR changes class action

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... longstanding adviser contracts with a view to saving shareholders' money. In July 2020, the advisers filed the class action against AMPFP. At the time of filing, The Advisers Association (TAA) chief executive Neil Macdonald said its AMPFP members ...

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
... market determinations in relation to CFDs. Meanwhile, as previously reported by Financial Standard, IG Markets faces a class action launched by Piper Alderman and Omni Bridgeway. The lawsuit represents investors who allegedly lost hundreds of millions ...

Class action commenced against IG Markets

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
Piper Alderman and Omni Bridgeway have filed their class action against IG Markets, representing investors that lost hundreds of millions trading contracts for difference (CFDs). In October 2022, the two firms said they were planning an action against ...

E&P Investments hunts new RE

JAMIE WILLIAMSON  |  THURSDAY, 16 MAR 2023
... Financial Group noted that preparations are underway for court-ordered mediation between E&P and Shine Lawyers in the class action brought against it and former executives Alan Dixon and Chris Brown. The mediation was to occur no later than March 24 ...

Super, advice class actions dampen CBA results

KARREN VERGARA  |  WEDNESDAY, 15 FEB 2023
... own benefit. As ordered by the Federal Court, CBA will need to mediate this issue by 13 October 2023. The second class action relates to fees charged by the FirstChoice Fund. CFSIL, as trustee, allegedly acted unconscionably and breached its duties and ...

Link Fund Solutions hit with further legal action

JAMIE WILLIAMSON  |  TUESDAY, 17 JAN 2023
... ASX statement, Link Group said: "LFS will vigorously defend itself against the proceedings." There is also a third class action that has been served against Link, representing a further 3200 claimants. The Woodford Equity Income Fund collapsed in 2019 ...

Westpac settles BT Super class action

CASSANDRA BALDINI  |  MONDAY, 19 DEC 2022
Westpac has reached a $29.95 million settlement in a class action relating to the bank's subsidiaries, BT Funds Management Limited and Westpac Life Insurance Services Limited. Tens of thousands of Australians may receive compensation following the ...

ANZ to pay $42m in insurance lawsuit

CASSANDRA BALDINI  |  MONDAY, 14 NOV 2022
ANZ has agreed to pay $42 million to settle a class action regarding consumer credit insurance (CCI) products. Commonwealth Bank has also reached a settlement for a similar matter. Slater and Gordon filed the class action against ANZ, OnePath Life ...