Piper Alderman has filed a class action in the Federal Court of Australia on behalf of individuals who have acquired or held financial products and/or life insurance on the advice of an adviser from Count Financial, which was a subsidiary of Commonwealth Bank of Australia.
The class action arises out of the Financial Services Royal Commission which uncovered serial misconduct by Count Financial. The claim alleges that Count Financial contravened obligations owed to their clients when taking commissions from product issuers and/or customers themselves. The claims allege, among other things, that Count Financial contravened its obligations under the Corporations Act 2001 (Cth) to:
- ensure that their financial advisers do not contravene their legal obligations to their customers;
- ensure that adviser remuneration was free from conflict;
- act in their customer’s best interest when giving personal financial advice; and
- to provide services where fees were charged.
Registering your details
If you acquired, renewed or continued to hold a financial product (including life insurance) on the advice or recommendation of an adviser from one of the above institutions, we invite you to register for the class action by filling out your details below. We will then contact you on your registered email address or telephone number to discuss the action and your claim.
Participating in the claim will cost you nothing. The claim is being funded by international litigation funder – Woodsford Litigation Funding –on a no-win-no-fee basis, meaning you will not be required to pay any money to be part of the claim or to receive compensation.
Importantly, this claim does not overlap with any other class actions you may have heard about against Count Financial. Piper Alderman is seeking to recover money for you that nobody else is.