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MM Newsletter
04 Jan 2024
Latest News
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Financial Planning
AMP BOLR class action verdict delivered

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Mark Moshinsky.
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Financial Planning
Mercer Financial Advice receives $12m penalty for fees for no service

Mercer Financial Advice has been ordered to pay a $12 million penalty for fees for no service and failures in its fee disclosure obligations.
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Financial Planning
Former Ord Minnett adviser embroiled in client solicitation dispute

A former Ord Minnett financial adviser, who is being sued by the firm, has been temporarily banned from contacting her former clients after it was found 17 clients moved over to her new employer.
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Financial Planning
ANZ penalised in landmark continuous disclosure regime verdict

The Federal Court has issued a $900,000 penalty to ANZ in a landmark case over its breach of continuous disclosure obligations.
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Funds Management
NAB fined $2.1m over wrongful payment fees

National Australia Bank has been ordered to pay $2.1 million by the Federal Court, the maximum penalty possible for a single breach of unconscionable conduct.
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Financial Planning
Will AMP’s $100m settlement end advisers’ BOLR fight?

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 Money Management he expects members will fight on individually.
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