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Showing 1 - 10 of 96 results for "class actions"

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

... billion. As part of is H1 report, the major bank gave an update on its ongoing superannuation and advice-related class actions. CBA said it still has two superannuation class actions before the courts. The first was filed in 2018 against Colonial First ...

Alexis George to retire, new AMP chief named

JAMIE WILLIAMSON | TUESDAY, 20 JAN 2026

... insurance and financial advice businesses, as well as completing the sale of AMP Capital, and settling a number of class actions. She said stepping back was not a decision she made lightly. "AMP has undertaken significant transformation to become a simpler ...

MSC awarded dual mandate from newly established litigation funder

MATTHEW WAI | MONDAY, 22 SEP 2025

... managed investment scheme. The fund will invest in a diversified portfolio of litigation funding assets, including class actions and insolvency-related litigation in Australia, as well as arbitration and insolvency proceedings across Asia, it said. MSC ...

AMP settles class action for $120m

ELIZA BAVIN | MONDAY, 15 SEP 2025

... millions of Australians who trusted AMP to safeguard their retirement savings," Maurice Blackburn national head of class actions Rebecca Gilsenan said. "The class action alleged that AMP's superannuation trustees prioritised the financial interests of ...

Two CBA class action appeals dismissed

ELIZA BAVIN | FRIDAY, 5 SEP 2025

Commonwealth Bank (CBA) has defeated the appeals from the Zonia and Baron shareholder class actions in the Federal Court. The Full Court concluded that the appellants did not prove any loss, and there was no award of damages. The two class actions related ...

CBA sets aside $52m for remediation

ELIZA BAVIN | WEDNESDAY, 13 AUG 2025

... Commonwealth Bank of Australia (CBA) said it has provisioned $52 million for remediation purposes as it finalises various class actions, including those related to superannuation and advice. CBA said the group is still defending two superannuation class ...

Legal costs weigh on AMP profits

JAMIE WILLIAMSON | THURSDAY, 7 AUG 2025

... Blair Vernon said the $11 million in legal 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 ...

Law firm eyes First Guardian, Shield class action

ELIZA BAVIN | THURSDAY, 24 JUL 2025

... operating a Ponzi scheme with thousands of Australians' superannuation savings. Slater and Gordon principal lawyer in class actions Andy Wei said the firm is investigating claims that investors were advised to put their superannuation savings into largely ...

AMP actions impacted 'hundreds of thousands' of customers: Shine

ELIZA BAVIN | FRIDAY, 4 JUL 2025

... who trusted the AMP trustees to manage their retirement savings responsibly," Shine Lawyers special counsel and class actions practice leader Sarah Thomson said. When addressing the class action AMP said it intends to defend the proceedings.

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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