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Showing 1 - 10 of 296 results for "Class action"

AMP profits fall as Alexis George prepares to step down

ELIZA BAVIN | THURSDAY, 12 FEB 2026

AMP's statutory net profit took a hit as a result of the settlement of legacy class actions and its continuing business simplification process, coming in at $133 million, down from $150 million in FY24. However, underlying net profit after tax (NPAT) ...

CBA updates on class actions, governance review

ELIZA BAVIN | WEDNESDAY, 11 FEB 2026

... Fund) and Commonwealth Essential Super. It was later expanded to include Avanteos Investments Limited (AIL). The class action claims members invested in cash and deposit options provided by CBA received a lower interest rate than they could have received ...

Alexis George to retire, new AMP chief named

JAMIE WILLIAMSON | TUESDAY, 20 JAN 2026

Alexis George is stepping down at AMP, with chief financial officer Blair Vernon named as her successor. George will retire from executive roles on March 30, bringing to an end more than 30 years in financial services. George joined AMP in August 2021 ...

AMP to pay $29m to settle class action

RIDDHIMA TALWANI | THURSDAY, 11 DEC 2025

AMP has settled a class action brought by Shine Lawyers in 2020, which claimed the firm's financial advisers breached their fiduciary and statutory duties to an estimated 100,000 clients. The AMP commissions and insurance class action was commenced ...

Colonial First State, AIA agree $140m class action settlement

JAMIE WILLIAMSON | WEDNESDAY, 5 NOV 2025

Colonial First State and AIA Australia will pay a combined $140 million to settle a class action lawsuit brought by hundreds of thousands of super fund members who paid excessive insurance fees. The class action was launched by Shine Lawyers in January ...

MSC awarded dual mandate from newly established litigation funder

MATTHEW WAI | MONDAY, 22 SEP 2025

MSC Trustees and MSC Abacus, both part of MSC Group, have been appointed as the trustee and administrator for a newly established third-party litigation funder, Ninety Mile Capital. Ninety Mile Capital is based in Melbourne and was founded by chief ...

AMP settles class action for $120m

ELIZA BAVIN | MONDAY, 15 SEP 2025

AMP has settled a class action brought against N.M. Superannuation, AMP Superannuation and AMP Services, agreeing to pay $120 million. The class action was brought on behalf of superannuation clients and their beneficiaries for the period of July 2008 ...

Two CBA class action appeals dismissed

ELIZA BAVIN | FRIDAY, 5 SEP 2025

... and terrorism financing risk, including the ongoing AML/CTF risks of doing business with those customers. The Zonia class action began on 9 October 2017, whilst the Baron class action started on 2 July 2018. ASX-listed Omni Bridgeway (formerly IMF Bentham) ...

CBA sets aside $52m for remediation

ELIZA BAVIN | WEDNESDAY, 13 AUG 2025

... advice. CBA said the group is still defending two superannuation class actions brought against it. The first is a class action filed against Colonial First State Investments (CFSIL) in October 2018. The claim initially related to investments in cash ...

Legal costs weigh on AMP profits

JAMIE WILLIAMSON | THURSDAY, 7 AUG 2025

... costs was reflective of "the further mobilisation of our response to class actions." It is currently defending a class action in relation to superannuation administration fees. George said AMP "will continue to fight that hard", noting it returns to ...

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BT appoints new head of strategy

KARREN VERGARA

A former Allianz Retire+ executive has joined BT as the new head of strategy.

ASX sees trade volumes soar in May

MATTHEW WAI

ASX saw a substantial growth in trade volumes last month, despite continued lackluster movement in IPOs.

Otivo launches AI-powered financial advice

MATTHEW WAI

Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Munro expands access to climate focused fund

VINNY VUCAGO

The Munro Global Growth Climate Leaders PIE Fund has been opened to retail investors in New Zealand.

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