COMPENSATION (LAW) – AUSTRALIA

Courts get tougher on sexual harassment, payouts soar

roymorgansocial Leave a comment

Original article by Nick Toscano
The Age – Page: 12 : 14-Aug-14

Hall & Wilcox partner Kerryn Tredwell says a recent Federal Court of Australia ruling has created a new benchmark for compensation payouts in sexual harassment cases. It approved an increase from $1A8,000 to $A130,000 for a female executive at software group Oracle, whereas previously amounts of $A90,000-plus were awarded rarely and only in very serious matters such as sexual assault. Australian Human Rights Commission data also show a rise in the number of sexual harassment claims lodged, from 157 in 2007-08 to over 260 in 2010-11 and 222 in 2013-14

CORPORATES
AUSTRALIAN HUMAN RIGHTS COMMISSION, ORACLE AUSTRALIA LIMITED, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. SEXUAL DISCRIMINATION COMMISSION, HALL AND WILCOX, QUEENSLAND UNIVERSITY OF TECHNOLOGY

CBA exposed to flood of claims

roymorgansocial Leave a comment

Original article by James Eyers, Phillip Coorey
The Australian Financial Review – Page: 1-Jun : 4-Jul-14

Commonwealth Bank of Australia (CBA) has announced a new compensation program. CEO Ian Narev said on 3 July 2014 that the bank is determined to rectify the problem of inappropriate advice being given to clients by the bank’s financial planning subsidiaries. Under the new program, customers who received advice between 1 September 2003 and 1 July 2012 can apply to the bank for an internal assessment

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, COMMONWEALTH FINANCIAL PLANNING LIMITED, FINANCIAL WISDOM LIMITED, MAURICE BLACKBURN PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED