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Financial Services AU

    Judge Cuts Fees In 'Disappointing' $120M AMP Class Deal

    A Federal Court judge on Thursday approved a "very disappointing" $120 million settlement in a class action alleging AMP overcharged superannuation customers for administration fees, while cutting the proposed percentage awarded to the plaintiffs' law firms and litigation funders.

    Government Eyes Crime For Firms Ignoring Modern Slavery

    The Federal Government on Thursday announced plans for a new criminal offence for large companies that fail to stop modern slavery in their supply chains, as well as new civil penalties and enforcement powers for non-compliance with existing modern slavery laws.

    Former Star CEO, Legal Chief Appeal $1.1M In Penalties

    Former Star Entertainment CEO Matt Bekier and former Star legal chief Paula Martin have appealed to the Federal Court after being hit with a combined $1.1 million in penalties for anti-money laundering compliance breaches.

  • July 17, 2026

    ASIC Bans Another Ex-MWL Adviser Over Risky Shield Advice

    ASIC has banned former MWL Financial Service adviser Christian Henry from providing financial services or managing a financial services business for three years.

  • July 17, 2026

    ASIC Warns Older Aussies On Fake Stock Tip Social Scams

    ASIC on Friday warned that scammers were impersonating banks and market commentators on social media, luring older Australians into private messaging app groups with fake stock tips designed to inflate share prices before selling and leaving investors with heavy losses.

  • July 16, 2026

    Chalmers Pushes ASIC, APRA To Prioritize Economic Growth

    Treasurer Jim Chalmers told financial regulators ASIC and APRA to place a greater emphasis on supporting economic growth, as the government seeks to cut regulatory burden, in new statements of expectations released on Thursday.

  • July 16, 2026

    Fintech Bolt Fails To Block Service Suspension On AML Gaps

    Fintech payments provider Bolt Group lost a bid to stop its clearing system provider from suspending its services in the Federal Court in Sydney on Thursday, after the provider raised concerns about the risk of financial crime going undetected in the fintech's systems.

  • July 16, 2026

    EQT Raises Perpetual Takeover Bid To $2.5B After Rebuff

    Perpetual has received a new, higher $2.5 billion takeover bid from private equity firm EQT's Windflower, the asset manager said on Wednesday, after rejecting an earlier $2.45 billion offer as inadequate.

  • July 15, 2026

    Mercer Super Chief To Exit After $10.3M Reporting Fine

    Mercer Super CEO Claire Ross will leave the fund in August, its parent company Marsh said on Tuesday, weeks after the superannuation fund was fined $10.3 million by the Federal Court for failures to investigate member services issues, including its handling of refunds following the death of members.

  • July 15, 2026

    Aussie Says Class Plaintiff Mistaken On Loan Insurance Pitch

    Aussie Home Loans suggested on Wednesday that the lead plaintiff in a class action accusing its brokers of inappropriately selling mortgage protection insurance may have been confused about how and what specific insurance was actually offered to him, undercutting his case.

  • July 15, 2026

    PM's AI Plan Draws Call For Accountability, Not Overregulation

    Australia's proposed national AI standards must clearly establish who is responsible when automated systems cause harm without creating a fragmented or overly burdensome regulatory regime, leading law firm partners have told Law360.

  • July 15, 2026

    ASIC Ban On Ex-Adviser Tied to First Guardian Widens Toll

    ASIC has banned former MWL Financial Services adviser Nicole Niu from providing financial services or managing a financial services business for five years after she made false claims that encouraged clients to invest their superannuation in the collapsed Shield Master Fund and First Guardian funds, including that they offered better returns and outperformed alternatives.

  • July 15, 2026

    NAB's WealthHub Fined $1M By ASIC On 9.5M Reporting Fails

    NAB's online broker WealthHub has been fined over $1 million by ASIC for failures to accurately report regulatory data more than 9.5 million times over a decade-long period, the regulator said on Wednesday. 

  • July 15, 2026

    Ex-Keystone Director Loses Bid To Block Bank Subpoenas

    A Federal Court judge won't allow former Keystone Asset Management director Paul Chiodo to appeal interlocutory orders refusing to set aside subpoenas issued to ANZ, CBA and Westpac seeking banking records for Chiodo and his family by Keystone's receivers.

  • July 15, 2026

    Clive Palmer Loses Appeal To Halt ASIC Criminal Cases

    The Full Supreme Court of Queensland's Court of Appeal rejected mining billionaire Clive Palmer's appeal against a magistrate's refusal to throw out ASIC's three criminal cases against him on Tuesday.

  • July 14, 2026

    Aussie Says Mortgage Class Downplayed Advice Warnings

    A class of Aussie Home Loans customers who allege mortgage brokers inappropriately sold them protection insurance wrongly downplayed evidence of a "sequence" of warnings that any insurance offer was based on general advice, Aussie told a Federal Court judge Tuesday.

  • July 14, 2026

    ASIC Seeks Capital Guard Wind Up On Alleged Funds Misuse

    ASIC applied to the Supreme Court of New South Wales on Tuesday to wind up investment firm Capital Guard AU Pty Ltd for allegedly misusing most of the $17.4 million it raised from investors, saying it had "serious concerns" about the investment firm's management and handling of funds.

  • July 14, 2026

    Judge Winds Up $135M First Mutual Fund On Gambling Claim

    A Federal Court judge in Melbourne on Monday agreed to wind up $135 million investment fund First Mutual Private Equity Ltd, accused of wasting tens of millions of dollars on gambling, saying the defendants effectively dragged their feet on agreeing to the order.

  • July 14, 2026

    Morgan Piper Loses Final Costs Bid In 'Bitter' Trust Fight

    An "unusually protracted, bitter and expensive" six-year dispute between asset manager Morgan Piper Capital and investment trustee Guardian Securities over the alleged misuse of trust assets has concluded in the Federal Court, with court-appointed receiver Fundus Management ordered to finalise shareholder distributions. A final costs bid by Morgan Piper was thrown out.

  • July 14, 2026

    Super Funds Failing In Customer Service In Phone Call Study

    Major superannuation funds are failing to provide adequate customer support over the phone, with AustralianSuper not answering 90% of calls, according to a Super Consumers Australia study of the 20 largest pension funds' call centres released on Tuesday.

  • July 14, 2026

    APRA Grants Taipei Fubon Bank Licence For Australia

    APRA has granted Taipei Fubon Commercial Bank Co. Ltd a licence to operate as a foreign authorised deposit-taking institution, it said on Tuesday, allowing the Taiwanese bank to offer wholesale operations in Australia.

  • July 13, 2026

    ASIC Levies Rise As Regulator Recoup 19% Higher Costs

    Deposit-taking institutions and payment processing firms will face much higher levies for the 2025-2026 financial year as ASIC seeks to recover an estimated 19% increase in costs, the regulator said in a statement on Monday.

  • July 13, 2026

    Federal Court Lifts ASIC's Travel Ban On Ferras Merhi

    A Federal Court judge in Melbourne has allowed a former financial adviser linked to the collapsed Shield and First Guardian Master Funds to travel to the Middle East, saying ASIC hadn't justified keeping a travel ban in place.

  • July 13, 2026

    Victorian Judge Referred Over Counsel Integrity Comments

    Victorian County Court Judge Michael Tinney has been referred to Chief Judge Amanda Chambers after the state's Judicial Commission found he had made critical comments concerning counsel's professional integrity and competence, though it ruled out judicial bullying, according to a statement on Friday.

  • July 13, 2026

    Union Says CBA Used 'Fake' Redundancies To Offshore Jobs

    The Finance Sector Union has filed a formal dispute with the Commonwealth Bank of Australia seeking detailed information from the bank about alleged "fake redundancies" the union says were used as an excuse to move nearly 300 jobs from Australia to India.

  • July 13, 2026

    Deutsche Bank Fined $2M Over 'Systemic' Misreporting

    Deutsche Bank has been fined $2 million by ASIC for allegedly misreporting more than 260,000 derivative transactions, the regulator said in a statement on Monday, describing the issue as "systemic."

  • July 10, 2026

    Ex-Solicitor Loses Ninth Bid To Regain Practising Certificate

    A New South Wales Supreme Court judge has tossed lawyer and former migration agent Chanaka Senanayake's challenge to the Law Society of NSW over its decision — for a ninth time — not to renew his practising certificate.

  • July 10, 2026

    Swyftx Financial License To Push Crypto Payment Service

    ASIC has granted cryptocurrency exchange Swyftx an Australian financial services licence, paving the way for the company to offer cryptocurrency payment services for retail businesses.

Expert Analysis

  • Practice Leader Insights From HSF Kramer's Andrew Bradley

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    Andrew Bradley, leader of HSF Kramer's financial services regulatory practice in Australia, discusses managing mental health while working on a complex matter, the glaring need for further reform in the financial advice sector, and why this practice area may be the most dynamic and intellectually stimulating.

  • Blue Star Shows Why Liquidators Need Approval Rule Reform

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    The recent Queensland Supreme Court decision in Blue Star Care v. Rimcroft highlights the uncertainty surrounding Section 477(2B) of the Corporations Act court approvals regime, meaning that until outright reform is implemented liquidators must make unsatisfactory choices between what is safe and what is in creditors’ best interests, says Robert True at Quinn Emanuel.

  • What ACCC Data Reveals About Finance Deals

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    Recent Australian Competition and Consumer Commission data confirm that clearances under the new mandatory merger control regime are moving faster than anticipated and that the system’s waiver process works particularly well for low-risk transactions, making it a natural fit for the financial services sector, say lawyers at Squire Patton.

  • Australian Payments Reg. Proposals Will Broaden Oversight

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    The Australian government’s recent payments regulation proposals for a more activity-based licensing framework will significantly expand the perimeter of entities, indicating that the regulators view payment systems, digital assets and tokenized financial infrastructure as part of a connected regulatory ecosystem, say lawyers at Corrs.

  • Australia's Computer Patent Ruling Will Aid Global Companies

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    While courts around the world have struggled to articulate a technology-neutral test for patentability of computer-implemented inventions, a recent decision by Australia's top court offers a decisive answer, creating strategic opportunities for overseas applicants, say attorneys at Mallesons.

  • Assessing The Significance Of Australia-EU's Free Trade Deal

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    The recently concluded Australia-European Union free trade agreement could be a springboard for a more ambitious initiative bringing together the EU and the economies of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a critical mass capable of shaping norms across subsidies, sustainability disciplines and competition policy, says Alan Yanovich at Akin Gump.

  • Decoding Arbitral Disputes: ICSID Enforcement In Australia

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    The Federal Court of Australia recently ruled for award creditors in Blasket Renewable Investments v. Spain in a judgment that explains how Australia's statute book operationalizes the promise of depoliticized enforcement under the International Centre for Settlement of Investment Disputes Convention while accommodating, without yielding to, the centrifugal forces of European Union law, says Josep Galvez at 4-5 Gray's Inn.