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CLASS ACTION
Financial planning
Financial services class actions are firmly back on the agenda after a ‘brief reprieve’ in recent years, reporting a 69 per cent rise in 2023, with crypto and ESG matters...
Financial planning
The decision by AMP to pay $100 million in settlement to members of the Buyer of Last Resort class action has been welcomed as providing closure, but one adviser told Mon...
Financial planning
E&P Financial Group has settled a class action related to Dixon Advisory for $16 million as Senator Andrew Bragg questions why the taxpayer should foot the bill for consu...
Funds management
The government has acknowledged the Australian economy faces a “systemic risk” from climate change in a Treasury statement, culminating a three-year legal saga around the...
Financial planning
Justice Mark Moshinsky has ruled a timeline for mediation between AMP Financial Planning and Equity Financial Planners to begin, and a former planner has called for the f...
Financial planning
The Federal Court has approved Commonwealth Bank’s $50 million settlement in the consumer credit insurance class action....
Financial planning
AMP has reached an agreement to settle the shareholder class action brought by Komlotex in June 2018 following the Hayne royal commission for $110 million....
Superannuation
Colonial First State Investments has reached an in-principle settlement regarding a superannuation class action about grandfathered commission....
Financial planning
The changes brought in to adjust the BOLR policy were ‘simple’ and did not require extended consultation beyond a few days, according to a senior AMPFP executive....
Financial planning
AMP Financial Planning was critically concerned about a possible ‘BOLR run’ of more than 700 practices seeking to exit after the Hayne royal commission, according to Fede...
Financial planning
A failure to provide a valid ‘legislation, economic, or products’ reason to make disproportionate changes to the BOLR policy forms the crux of AMP Financial Planning’s de...
Financial planning
The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....
Financial planning
Insignia’s class action hearing has closed with a clash over the role media played in the share price drop, the alleged admissions made in an almost decade-old statement...
Financial planning
The first week of the Insignia Financial class action case has seen allegations of misconduct, insider trading, front running and failure to manage conflicts of interest....
Financial planning
A trial investigating alleged misconduct by the wealth management company is slated to begin on Monday (5 June) and expected to run for up to five weeks. ...
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Podcast
My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...
Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...
How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...