CompaniesFinancial ServicesClass actionPrint articleCBA’s former wealth arm settles class action for $100mHannah WoottonColumnistJul 14, 2023 – 3.19pmSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginColonial First State will pay $100 million into thousands of superannuation accounts to settle a class action alleging it illegally charged members high fees to help finance generous commissions for financial advisers.The settlement, which came with no admission of liability or wrongdoing by CFS, will be the highest payout received by plaintiff law firm Slater and Gordon in a class action, if is it approved by a court.Loading...Hannah Wootton is a Rear Window columnist, based in Melbourne. Connect with Hannah on Twitter. Email Hannah at hannah.wootton@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreClass actionCommonwealth BankSlater & GordonRegulationBanking royal commissionHayne falloutSuperannuationLatest In Financial servicesFetching latest articlesMost Viewed In CompaniesThe Australian Financial Review MagazineWhat OpenAI’s Sam Altman suggests you do to keep your jobPaul SmithThis Australian watch reseller is making its move on London and NYCMonica Lewinsky might be the most influential feminist in 30 yearsBOSS Financial ReviewThe 3 traits that stand out among this year’s BOSS Young ExecutivesSally PattenHow this elite child gymnast leapt to the top of SportsbetWhat 18-hour days on a farm taught this NAB exec about bankingLife & LeisureThe secret to Oroton’s $123m turnaround successJessica BeresfordMaison Balzac glassware and bendy candlesticks to light up your homeStep inside this modernist penthouse with 360-degree viewsRich ListThree decades of PMs, fashion icons and the odd person headed for jailBrook TurnerFortescue near settlement with US tycoon after energy deal bust-upAustralia’s 50 Richest Bosses revealed
