Financial Services AU
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September 25, 2026
Netwealth Hit With Class Action Over First Guardian Failures
Law firm Keily McCrosson confirmed Friday that it had filed a class action against NetWealth over the superannuation trustee's offering and monitoring of investment options in the now-collapsed First Guardian Master Fund.
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September 25, 2026
IAG Settles $2.8B Greensill Claims With Credit Suisse
Trade insurance claims worth billions of dollars linked to the Greensill Capital collapse will go untested in the Federal Court of Australia as insurance giant Insurance Australia Group confirmed a settlement Friday in its stoush with UBS-owned Credit Suisse.
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September 24, 2026
ASIC Targets AI Trading Safeguards, Streamlines Market Rules
ASIC has introduced changes to its market integrity rules aimed at strengthening safeguards for automated and AI-enabled trading, as well as improving the testing, monitoring and governance of trading systems and algorithms amid growing adoption of the tech.
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September 24, 2026
Defendant Denied Costs Security In $142M Probis Funds Fight
A Hong Kong businessman at the centre of a failed trading company lost his attempt to gain security for his legal costs on Thursday in a fight over an allegedly missing $142 million investment in the Federal Court of Australia.
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September 24, 2026
Accounting Group Says Reforms Must Protect Audit Capacity
Accounting body CPA Australia told Treasury Thursday that major structural reforms to the auditing sector would pressure the industry as it faces a shortage of auditors, calling for the government to consider the industry's ability to recruit and retain workers when crafting new regulations.
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September 24, 2026
ACCC Approves I Squared's $898M oOh!media Acquisition
The ACCC has approved US private equity firm I Squared's $898 million acquisition of out-of-home advertiser oOh!media, saying it would not harm competition, oOh!media announced Thursday.
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September 24, 2026
Treasury Says Master Fund Failures Show Regulatory Gaps
The Federal Treasury on Wednesday proposed new reporting requirements for managed investment schemes to address regulatory gaps revealed following the high-profile collapses of the First Guardian and Shield Master Fund schemes.
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September 24, 2026
Victoria Chief Justice Flags New 'Strategic Vision' For Court AI
Supreme Court of Victoria Chief Justice Richard Niall has revealed a new legal framework outlining a "shared strategic vision" for artificial intelligence tools and systems across the state's courts and legal institutions, while urging judges not to let the technology overtake judicial decision making.
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September 23, 2026
Incidental Pressure Can't Make Loan Receivership Illegitimate
The Supreme Court of New South Wales ruled Wednesday that a lender could appoint receivers to a land developer after a brief default on a $6.1 million loan, finding that incidental pressure in a dispute over another development did not undermine the legitimate receivership.
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September 23, 2026
RBA Says ASX 'Still Not Meeting' Clearing, Settlement Targets
The Reserve Bank of Australia says the Australian Stock Exchange is "still not meeting expectations" for its clearing and settlement facilities in a statement on Wednesday.
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September 23, 2026
ACCC Blocks IAG's RAC Tie-Up For 2nd Time on Competition
The ACCC has blocked Insurance Australia Group (IAG)'s acquisition of RAC Insurance for the second time citing competition concerns in the car and home insurance sectors in Western Australia.
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September 23, 2026
Fintech Humm Sued by Ex-CEO Grimshaw on Termination
Fintech lender Humm Group and its founder and former chair Andrew Abercrombie are being sued by former CEO and managing director Stuart Grimshaw in the Federal Court of Australia over his employment termination after the company said he left for personal reasons.
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September 23, 2026
ACCC Chair Cass-Gottlieb Backed For Another Five Year-Term
The Federal government says it has nominated ACCC Chair Gina Cass-Gottlieb for another five-year term at the competition watchdog from March 20 2027.
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September 23, 2026
Mallesons-Led IDP Rejects $695M Blackstone Bid
Education services company IDP rejected an unsolicited $695 million takeover bid from private equity firm Blackstone's Singapore arm saying it was highly opportunistic and undervalued IDP, according to a statement to the Australian stock exchange on Wednesday.
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September 22, 2026
Casino Biz Says Insurer Owes Part Of $72.5M Class Deal
Crown Resorts Ltd has sued excess insurer RiverStone International in the Supreme Court of Victoria over its refusal to cover part of a $72.5 million shareholder class action settlement tied to the casino operator's anti-money laundering and regulatory issues.
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September 22, 2026
Big Un Liquidators Lose $27M Compensation Bid
The Federal Court of Australia has thrown out a $27.2 million bid from the liquidators of former share market darling and video startup Big Un to recoup losses from financiers First Class Capital, ruling Tuesday the case was not well-founded.
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September 22, 2026
ASIC Issues Stop Order on Remara Private Credit Funds
ASIC has issued an interim stop order for three private credit funds under the Remara Cash Management Fund offered by Melbourne Securities Corporation Limited citing protection of retail investors hours after Commissioner Simone Constant warned enforcement action was coming as the industry was dragging its feet on governance, conflicts of interest and transparency.
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September 22, 2026
RAMS Strikes $29M Deal To End Franchisee Class Action
Former home loan provider and Westpac subsidiary RAMS Financial Group will pay $29.6 million to settle a franchisee class action over alleged wrongful termination in the Federal Court of Australia.
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September 22, 2026
Victorian Lawyers Need Transparent Costs: Law Institute
Law Institute of Victoria President Tom Ballantyne has urged lawyers to be transparent on costs, communicate clearly with their clients and expand access to justice to rebuild public trust in the legal profession in a speech.
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September 22, 2026
Westpac Brings Broker Contract Dispute To NSW Supreme Court
Westpac has alleged an online investment broker failed to uphold its end of an expiring services agreement in a case filed with the Supreme Court of NSW.
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September 22, 2026
ASIC Says 'Beyond Warnings' On Private Credit Market
ASIC Commissioner Simone Constant has hit out at the private credit market for "inconsistency in standards" across asset valuations and liquidity levels warning enforcement action is now on the agenda, in a speech on Tuesday.
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September 21, 2026
Telix Pharma Bets Up To $2.3B For ITM In Radiopharma Push
Telix Pharmaceuticals Ltd. on Monday unveiled plans to acquire ITM Isotope Technologies Munich SE in a deal worth up to $2.3 billion that was built by three law firms.
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September 21, 2026
Tribunal Cuts Ponzi Schemer's Lifetime Ban To 10 Years
An Administrative Review Tribunal member has cut a lifetime financial services ban that the Australian Securities and Investments Commission issued to Ponzi scheme director Noel Northcott to 10 years and allowed him to work in the industry under supervision, citing High Court precedent for "serious" cases.
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September 21, 2026
Sydney Man Jailed Over $50M Online Investment Scam
An Israeli national from Sydney has been sentenced to 14 years' imprisonment by the NSW District Court after being found guilty of running a $50 million online investment scam that targeted more than 1,000 people in Australia and abroad.
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September 21, 2026
ASIC Flags Gaps In Climate Risk Disclosures
ASIC says sustainability reporting needs better forward-looking disclosures as well as improved metrics and targets amid a review of mandatory standards.