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Latest News in Financial Services AU
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October 13, 2026
A Federal Court judge on Tuesday allowed investment manager Rosherville to proceed with a shareholder derivative action alleging ASX's directors including the former chairs and CEO breached their duties overseeing the botched replacement of the CHESS platform, rejecting ASX's argument that Rosherville dragged its feet in bringing the case.
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October 13, 2026
Fortnum Private Wealth, a firm that licenses financial advisers, will pay a $1.35 million civil penalty and $250,000 in costs after admitting its cybersecurity measures were inadequate between April 2021 and May 2023, with a Supreme Court of NSW judge on Monday approving the penalty agreed by Fortnum and ASIC.
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October 13, 2026
ASIC has stopped Fidante Partners from selling units in its $799.9 million Ares private credit fund as part of its broader crackdown on the private credit sector, citing concerns the high-risk fund inappropriately targets retail investors including suggesting they invest half of their assets in the product.
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October 13, 2026
The High Court of Australia's decision in the Commonwealth Bank of Australia shareholder class action, with its implications for plaintiffs seeking to prove causation and loss, and ASIC cases that will test superannuation trustees' obligations are among Law360's financial services cases to watch during the remainder of 2026.
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October 13, 2026
ASIC has warned mortgage brokers to improve their loan recommendations and complaints handling, saying seven major broker groups did not recommend the cheapest loan option in over 20% of cases in an industry review.
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