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Financial Services AU
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July 30, 2026
Victorian Courts Disclose Second Data Breach in 2.5 Years
Court Services Victoria has disclosed a second data breach in over two and a half years, revealing the latest incident involved unauthorised access to data including email addresses in the Magistrates' Court of Victoria and the Children's Court of Victoria between 2022 and 2026.
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July 30, 2026
Judge Kyrou Says 'Uncomfortable' On AI, Backs Decision Ban
Federal Court Justice Emilios Kyrou said judges and tribunal members should be "prohibited" from using generative AI to make judicial decisions, citing ethical concerns and possible de-skilling in a speech published on Thursday, where he acknowledged never using AI.
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July 30, 2026
Judge Allows ASIC To Pursue 'Unconscionable' Lending Case
A Federal Court judge on Thursday allowed ASIC to move forward with its case against lender Oak Capital accused of skirting credit laws when originating more than $37 million in loans, despite the firm going into liquidation earlier this year.
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July 30, 2026
QB4 Capital Loses Stay Order In $8.5M Guardian Trust Fight
The Federal Court of Australia on Wednesday denied an 11th-hour application from asset manager QB4 Capital for a stay in distributing $8.5 million to investors in Guardian Securities, with a separate bid to appeal related orders filed the previous day already delaying the release of the funds.
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July 30, 2026
Financial Council Urges Tighter Controls On Advice Licensees
Australia's peak financial services industry group has called for financial advice licensing regulation to be tightened after the $1.1 billion Shield and First Guardian superannuation fund collapses in a new white paper on Thursday.
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July 30, 2026
Zurich's $415M Takeover of Clearview Approved by NSW Court
The Supreme Court of New South Wales approved life insurer ClearView's $415 million acquisition by Zurich Financial Services on Thursday after shareholders voted in favour of the offer this week.
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July 30, 2026
Blanket Ban On Lead Generators Would Cut Choice: SMSFs
A blanket ban on lead generation activities could cause uncertainty and limit genuine referrals, the self-managed super fund body argues, as the Federal government prepares to deliver a consumer protection reform package in response to the Shield and First Guardian Master fund collapses.
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July 29, 2026
Super Investors Urge Stronger Corporate Whistleblower Rules
Companies should be required to disclose policies for dealing with whistleblowers because they are "a prerequisite for good corporate governance," the Australian Council of Superannuation Investors (ASCI) said in a letter sent to Assistant Treasurer Daniel Mulino on Wednesday.
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July 29, 2026
Investment Scammer Gets Lifetime Ban Over 'Evil Scheme'
A Federal Court judge on Wednesday permanently banned investment scammer Larry Dawson from managing corporations after he had served more than three years in prison, saying he wanted to send a "very clear message" to would-be fraudsters.
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July 29, 2026
Ex-NT Judge Fails To Block Old Sexual Harassment Complaint
A Federal Court judge has refused to toss a sexual harassment and discrimination complaint brought against an unnamed former Northern Territory Supreme Court judge by a former associate, saying the state anti-discrimination official had properly used their discretion to allow the complaint to proceed despite a lengthy gap in filing the claim.
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July 29, 2026
Perpetual Taps Mallesons As EQT Pushes $2.6B Takeover Bid
Mallesons is advising Perpetual on EQT's takeover offers after rejecting a third bid worth $2.6 billion but agreeing to give access to private information and engage with them, the asset manager announced on Wednesday.
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July 29, 2026
Big Banks Paid $55M For Mortgage Offset Account Failures
Eight major Australian banks have paid over $55 million in compensation after failing to manage mortgage offset accounts properly, ASIC said in a new report released on Wednesday, warning home loan customers are paying thousands in additional interest.
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July 28, 2026
Pengana Set To Sue After Equities Fund Buy-Back Approval
Pengana International Equities is set to face legal action from its investment manager in a dispute over a shareholder vote to give investors the choice of cashing out of the company by selling back their shares.
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July 28, 2026
Capital Guard Wound Up Over Alleged $17.4M Investor Scam
A New South Wales Supreme Court judge has approved ASIC's proposal to wind up Capital Guard AU Pty Ltd, after the investment firm allegedly misused most of the $17.4 million it raised from investors.
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July 28, 2026
ACCC Wants ASIC Policing Aggressive Financial Sales Tactics
The consumer watchdog says high-pressure, unsolicited sales tactics and lead generation are widespread in the finance industry and should be policed by ASIC by extending the unfair trading practices ban to the sector.
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July 28, 2026
Law Council Says Tribunal Reform Risks Procedural Fairness
The Law Council of Australia warned a Senate committee on Monday that proposed reforms aimed at reducing the Administrative Review Tribunal's backlog, particularly in relation to migration matters, could undermine procedural fairness.
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July 28, 2026
ASIC Wins Record $55M Fines For Harvey Norman, Latitude
Harvey Norman and Latitude Finance have been ordered to pay a combined $55 million in fines by the Federal Court of Australia after advertising a misleading "60 months interest free" payment method without disclosing that it required customers to take out a credit card and pay ongoing account fees.
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July 28, 2026
Victoria Bar Sets Requiem Mass For Late Justice Santamaria
Requiem Mass for former Justice Joseph Santamaria, who served on Victoria's Court of Appeal from 2013 until his retirement in 2018, will be held in Melbourne on Friday, the Victorian Bar announced on Tuesday.
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July 27, 2026
Credit Suisse Wins Privilege Fight Over Greensill Report
Compliance with financial regulators does not necessarily entail a waiver of legal professional privilege, the Federal Court of Australia on Monday has ruled after Credit Suisse bid to stop insurance broker Marsh from accessing an internal report over the Swiss bank's management and involvement with collapsed supply chain finance firm Greensill Capital.
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July 27, 2026
ClearView Shareholders Approve $415M Zurich Takeover
ClearView shareholders overwhelmingly approved the insurer's $415 million acquisition by Zurich Financial Services in a meeting on Monday after the company's board unanimously endorsed the deal.
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July 27, 2026
EQT Lifts Perpetual Bid To $2.6B After Two Rejected Offers
Perpetual has received a new $2.6 billion takeover bid from private equity firm EQT after rejecting two lower offers as insufficient earlier this month, the asset manager said on Monday.
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July 27, 2026
KPMG Barred From Work With Victorian Govt As Partner Fired
KPMG has agreed to stop bidding for Victorian government contracts until September, days after the audit firm said new CEO John Sams fired a partner following new evidence by law firms Allens into the whistleblower allegations.
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July 27, 2026
Treasury To Extend Add-On Insurance Exemptions For 5 Years
Treasury is seeking to extend exemptions from cooling-off periods for home and vehicle add-on insurance for another five years because of their high value to consumers, according to draft regulations released on Monday.
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July 27, 2026
NSW Chief Justice Flags Stress on Judges Mounting Caseload
New South Wales Chief Justice Andrew Bell has raised concerns about the volume of work judges face, describing it as the "single greatest source of stress and pressure on the judiciary" and highlighted the need for proper resourcing of judicial officers and courtrooms.
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July 24, 2026
REST Denied Injunction On Sale Of Dexus-Led Airport Stake
A New South Wales Supreme Court judge on Friday refused REST Infrastructure Trust's bid for an injunction against the sale of its portion of a roughly $4 billion Dexus-led stake in Melbourne and Launceston airports pending appeal, after REST refused to take responsibility for all related damages if the appeals failed.