Commonwealth Bank says it has reached a $249 million settlement in a class action against Colonial First State and Avanteos Investments that alleged they invested members' retirement savings with their then-parent CBA despite better interest rates being available elsewhere.
Commonwealth Bank says it has reached a $249 million settlement in a class action against Colonial First State and Avanteos Investments that alleged they invested members' retirement savings with their then-parent CBA despite better interest rates being available elsewhere.
Former Nuix Ltd chairman Daniel Phillips argued at trial in the Victorian Supreme Court on Wednesday that the analytics software company had appropriately forecasted its expected revenues ahead of its allegedly misleading 2020 IPO, as shareholders suggested it had failed to properly take financial risks into account.
ASIC Chair Sarah Court says the collapse of residential property developer Bathla, which was put into voluntary administration on Tuesday, represents the "first significant crack" in the private credit industry in Australia.
Federal Court Justice Michael Lee has called for courts to harness AI including the potential introduction of a court-controlled AI tool for self-represented litigants amid the "profound" and "increasingly unmanageable" impact of AI.
The Financial Services Council has released a new mandatory industry standard for private markets and private credit that requires independent valuation processes and conflict of interest disclosures, following ASIC's call for stronger industry guidelines.
