Financial Services AU
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July 22, 2026
Investment Advisor Is No-Show In $7M Airport Loan Dispute
An investment advisor accused of misleading and deceptive conduct by failing to repay a $7 million loan granted over a 10-day period to fund a purported new Melbourne airport has been a no-show in the Federal Court of Australia.
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July 22, 2026
Noumi To Go Private In $737M Arrovest Deal As Debts Loom
Dairy and plant-based food manufacturer Noumi has entered into a $737 million deal with its largest shareholder, the investment vehicle Arrovest owned by the billionaire Perich family, to take the company private as a deadline to repay $610 million in debts looms.
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July 21, 2026
Aussie Broker Denies Mortgage Insurance Was Mandatory
An Aussie Home Loans broker disputed in Federal Court on Tuesday that she had marketed mortgage protection insurance to the representative of a class of Aussie customers as effectively mandatory, one of several claims in the suit accusing Aussie and the insurer of improperly selling that insurance.
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July 21, 2026
ASX Eyes Diversity Target Removal, New Auditor Disclosures
The Australian Securities Exchange has proposed cutting senior executive and workforce diversity targets, and adding new reporting requirements on the tenure of auditors to its corporate governance framework.
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July 21, 2026
Bolton Loses Bid To Make Keybridge Cover $1.4M Costs
Investor Nicholas Bolton has lost an appeal in the Supreme Court of NSW's Court of Appeal over $1.4 million in legal costs in his dispute with Keybridge Capital, the investment firm he was ousted from as managing director.
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July 21, 2026
Fitch Gets $12.5M Security Costs Order Despite 3-Year Delay
A Federal Court judge granted Fitch Ratings $12.5 million security for costs in a juggernaut class action against the international credit rating agency despite a three-year application delay on Thursday.
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July 21, 2026
Revolut Secures Australian Bank License In Global Push
British fintech Revolut has been granted a banking license in Australia by financial regulator APRA more than four years after it applied, with plans to add deposit and savings accounts to its digital payment offerings.
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July 21, 2026
KPMG Australia Taps Finance Chief John Sams as New CEO
KPMG Australia has appointed current chief financial officer John Sams as the new CEO who will deliver the auditing giant's internal reboot as it seeks to revive its reputation following the whistleblower scandal.
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July 20, 2026
Aussie Class Says Insurance Training Sought Personal Details
A class of Aussie Home Loans customers argued in Federal Court in Melbourne on Monday that training provided to brokers pushed them toward selling mortgage protection insurance by inappropriately soliciting and using customers' personal circumstances.
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July 20, 2026
Benjamin Hornigold Wins $1.8M More In Director Loan Case
Benjamin Hornigold, the ASX-listed investment firm, has secured a further $1.8 million civil settlement in the Federal Court against a former director bringing three years of legal proceedings to recover over $4 million in funds loaned to the investment management firm and never repaid, to an end.
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July 20, 2026
Perpetual Rejects Second EQT Bid Worth $2.5B As Too Low
Perpetual has rejected private equity firm EQT's $2.5 billion second takeover bid, saying on Friday that the offer's additional $50 million still did not represent fair value for its shareholders.
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July 20, 2026
Maurice Blackburn Gets 33% Fee Order In Entain Class Action
A Victorian Supreme Court judge has granted Maurice Blackburn a group costs order of 33% as plaintiff's lawyer in a class action against betting giant Entain Group, which alleges an 'in‑play' betting service on its website and smartphone app was barred under gambling legislation.
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July 20, 2026
AFCA Fairly Split Super Death Benefit, Says Federal Court
A Federal Court judge has backed AFCA's decision to divide a woman's $350,000 superannuation death benefit four ways, ruling her partner was not entitled to the entire amount over her three adult children.
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July 19, 2026
ASIC Penalties Hit Record $830M on Banks, Super Fines
ASIC secured a record $830 million in civil penalties in the last fiscal year, driven by enforcement action against major banks, super trustees and financial services firms including Union Standard, HSBC, Macquarie Securities, Westpac and Mercer Super, the regulator said on Monday.
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July 17, 2026
Australian Fiduciaries Licence Cut After Compensation Payout
ASIC has cancelled the financial services licence of Australian Fiduciaries after the Compensation Scheme of Last Resort (CSLR) paid to compensate the defunct investment firm's investors, the regulator said on Friday.
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July 17, 2026
Judge Blocks RH Capital's $23M Debt Demands As 'Disruptive'
A Federal Court judge has set aside statutory demands issued by investment firm RH Capital seeking repayment of $23 million owed by two 3D printing companies in receivership, calling the decision to serve the demands "disruptive" because a separate proceeding over the same loans was already underway in the same court.
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July 17, 2026
NCAT Rejects Ibrahim Bid For Police Records On Debanking
A New South Wales tribunal has denied Fadi Ibrahim, brother of notorious former nightclub owner John Ibrahim, access to communications between the NSW Police, banks and AUSTRAC after he was debanked following a conviction for handling suspected crime proceeds.
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July 17, 2026
ASIC Bans Another Ex-MWL Adviser Over Risky Shield Advice
ASIC has banned former MWL Financial Services adviser Christian Henry from providing financial services or managing a financial services business for three years.
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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.
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July 17, 2026
Shareholder Suits Lead Growing Class Action Filings: Law360
Shareholder and investor cases continue to form the biggest single block of the dozens of class actions in Australia, as the volume of ongoing cases continues to steadily grow, according to analysis by Law360.
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July 16, 2026
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.
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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.
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July 16, 2026
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.
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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.
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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.