POWERED BY MOMENTUM MEDIA
CLASS ACTION
Financial planning
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December. ...
Financial planning
Members of the AMP BOLR class action have told the Federal Court in a two-day hearing that they would be willing to risk receiving no settlement at all in favour of going...
Financial planning
Money Management understands there are around 90 objections to the AMP buyer of last resort class action, with a settlement hearing due to take place at the end of August...
Financial planning
Financial services class actions are firmly back on the agenda after a ‘brief reprieve’ in recent years, reporting a 69 per cent rise in 2023, with crypto and ESG matters...
Financial planning
The decision by AMP to pay $100 million in settlement to members of the Buyer of Last Resort class action has been welcomed as providing closure, but one adviser told Mon...
Financial planning
E&P Financial Group has settled a class action related to Dixon Advisory for $16 million as Senator Andrew Bragg questions why the taxpayer should foot the bill for consu...
Funds management
The government has acknowledged the Australian economy faces a “systemic risk” from climate change in a Treasury statement, culminating a three-year legal saga around the...
Financial planning
Justice Mark Moshinsky has ruled a timeline for mediation between AMP Financial Planning and Equity Financial Planners to begin, and a former planner has called for the f...
Financial planning
The Federal Court has approved Commonwealth Bank’s $50 million settlement in the consumer credit insurance class action....
Financial planning
AMP has reached an agreement to settle the shareholder class action brought by Komlotex in June 2018 following the Hayne royal commission for $110 million....
Superannuation
Colonial First State Investments has reached an in-principle settlement regarding a superannuation class action about grandfathered commission....
Financial planning
The changes brought in to adjust the BOLR policy were ‘simple’ and did not require extended consultation beyond a few days, according to a senior AMPFP executive....
Financial planning
AMP Financial Planning was critically concerned about a possible ‘BOLR run’ of more than 700 practices seeking to exit after the Hayne royal commission, according to Fede...
Financial planning
A failure to provide a valid ‘legislation, economic, or products’ reason to make disproportionate changes to the BOLR policy forms the crux of AMP Financial Planning’s de...
Financial planning
The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....
Never miss the latest news and developments in wealth management industry
MARKET INSIGHTS
Podcast
So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...