Octaviar faces class proceedings
Struggling Queensland-based financial group Octaviar is now facing possible class proceedings from former and current shareholders as it continues to battle winding up orders and demands from creditors.
In an announcement to the Australian Securities Exchange, Octaviar revealed it had received correspondence from Maurice Blackburn Lawyers stating that the claims of their clients total $80 million.
The law firm advised Octaviar that this amount may increase if more shareholders seek to participate.
Recommended for you
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
South Australian financial advice and accounting business Perks has extended its paid parental leave program from 12 to 26 weeks, putting it on par with big four firms.
Mason Stevens has tapped Investment Trends’ head of growth, alongside two other hires, to bolster its distribution team.
