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ING Australia shuts door to expat buyers

By: Gary Robinson | 18 Jun 2018

ING Australia has admitted that it is stopping lending to expatriate Australians needing finance to buy property in their home country. It is the second major international…

ASIC starts civil penalty proceeding against Westpac for poor financial advice

By: Christopher Copper-Ind | 15 Jun 2018

The Australian Securities and Investments Commissions (ASIC) has launched proceedings in the Federal Court of Australia against Westpac Banking Corporation in relation to alleged poor financial advice…

Australian pensioners ‘reckless conservativism’ now in UK market: AJ Bell

By: Gary Robinson | 11 Jun 2018

A situation where retired people in Australia are overly worried about running out of money during retirement and are underspending as a result, is now fast becoming…

Dover Financial closes for business, as ASIC investigation continues

By: Christopher Copper-Ind | 11 Jun 2018

Dover Financial, one of Australia’s largest financial advice firms, will shut down its business by early July, the company announced this morning. The troubled firm, which is…

Former Brisbane financial adviser charged with A$5.9m fraud

By: Christopher Copper-Ind | 25 May 2018

Ben Jayaweera,a former financial adviser based in Brisbane, Queensland, has been charged with six counts of fraud amounting to A$5.9m. The Australian Securities and Investments Commission (ASIC),…

Maurice Blackburn files against Australia’s AMP after allegations of misconduct

By: Christopher Copper-Ind | 16 May 2018

Maurice Blackburn, the Australian law firm, said on Tuesday it planned to sue AMP, the country’s biggest wealth manager and insurer, bring to five the number of…

Commonwealth Bank CFO leaving to run Cayman cryptocurrency firm

By: Christopher Copper-Ind | 14 May 2018

The Commonwealth Bank of Australia’s (CBA) chief financial officer has resigned to run a $12bn cryptocurrency firm based in the Cayman Islands. Rob Jesudason, who has resigned…

ASIC takes action against NSW financial adviser

By: Gary Robinson | 10 May 2018

The Association of Securities and Investment Companies (ASIC) has commenced proceedings in the Federal Court of Australia against New South Wales financial adviser Graeme Walter Miller and three related companies.…

Australian banking regulator has funding cut despite sector scandals

By: Christopher Copper-Ind | 10 May 2018

The Australian Securities and Investments Commission (ASIC), the country’s corporate regulator, has been told its current funding is to be cut over the next four years, at…

ANZ first major Australian lender to scrap financial planner bonuses

By: Gary Robinson | 08 May 2018

Australia’s Australia and New Zealand Banking Group (ANZ) has announced that it will quit paying bonuses to financial planners for selling its products, becoming the country’s first…

Australia to set up new complaints watchdog in wake of scandals

By: Christopher Copper-Ind | 02 May 2018

Australia is setting up a Financial Complaints Authority (AFCA). AFCA will be operational from 1 November this year, with a remit to “provide free, fast and binding…

AMP shares fall further as chairman steps down in wake of scandal

By: Christopher Copper-Ind | 30 Apr 2018

Shares in Australia’s troubled AMP wealth management company slid further this morning upon news that Catherine Brenner, the firm’s chairman, has resigned following the Royal Commission’s confirmation…

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