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Financial Services

Commonwealth Bank of Australia

CBA sells life insurance business for $A3.8bn

AAP AAP
21 Sep 2017

Commonwealth Bank of Australia has sold its trans-Tasman life insurance businesses, CommInsure Life and Sovereign Assurance, for $A3.8 billion ($4.15 billion) to global insurer AIA Group.

Gascoyne Resources

Gascoyne in $60m facility for gold project

Fraser Beattie Fraser Beattie
18 Sep 2017

Gascoyne Resources has mandated two of Australia's largest banks to arrange a $60 million debt facility for the development of its Dalgaranga gold project in the Murchison region.

Commonwealth Bank of Australia

APRA panel appointed for CBA probe

AAP AAP
08 Sep 2017

Australia's financial sector regulator has appointed three panel members to inquire into the Commonwealth Bank of Australia's governance, culture and accountability.

RBA holds cash rate at 1.5%

AAP AAP
05 Sep 2017

The Reserve Bank of Australia has kept the official cash rate on hold at 1.5 per cent and repeated its concern that an appreciating Australian dollar could slow economic growth.

IMF Bentham

CBA to face shareholder class action

AAP AAP
05 Sep 2017

IMF Bentham has confirmed it will fund a Federal Court open class action against the Commonwealth Bank relating to allegations the lender breached anti-money laundering and counter-terrorism funding laws.

Commonwealth Bank of Australia

CBA to defend allegations in court next year

Business News Business News
04 Sep 2017

AUSTRAC’s civil penalty proceedings against Commonwealth Bank of Australia won’t appear in the Federal Court until April next year.

Commonwealth Bank of Australia

CBA faces wide-ranging APRA probe

AAP AAP
28 Aug 2017

Commonwealth Bank of Australia will face an inquiry by the prudential regulator after a series of issues at the country's largest bank prompted concerns about its governance, culture and accountability.

Mac Equity Partners

Managers, investors evolve in west

Matt Mckenzie Matt Mckenzie
15 Aug 2017

The state’s first early stage venture capital limited partnership is one of three funds announced by Western Australian money managers this year, and one of two in a joint project by Cottesloe-based View Street Partners and Nedlands-based Mac Equity.

HBF

CEO lunch with John Van Der Wielen

Mark Pownall Mark Pownall
15 Aug 2017

One of the state’s most experienced financial services leaders, John Van Der Wielen says the opportunity to put something back into the community was one factor motivating his move to HBF.

Patersons Securities

Former Patersons dealer banned

Business News Business News
28 Jul 2017

The Australian Securities and Investments Commission has slapped a five-year ban on a Queensland-based former employee of stockbroking firm Patersons Securities, after he made unauthorised trades on a client account and created false records on two further accounts.

Wyatt cautious on bank tax

Fraser Beattie Fraser Beattie
26 Jul 2017

Treasurer Ben Wyatt has all but ruled out the introduction of a bank tax in the September budget but has kept the option open for a future decision, while the industry has called on the state government to protect Western Australia’s economic growth by not bringing in the levy.

BDO

Radium’s capital R&D funds plan

Mark Beyer Mark Beyer
25 Jul 2017

Companies investing in research and development have access to an increasingly competitive new source of finance.

Commonwealth Bank of Australia

Rates rise could stymie state’s recovery

Tim Treadgold Tim Treadgold
25 Jul 2017

ANALYSIS: WA could find itself in a tough spot if the Reserve Bank raises interest rates in response to economic conditions in the eastern states.

Westpac

Asic bans Perth financial adviser

Fraser Beattie Fraser Beattie
19 Jul 2017

The corporate watchdog has banned a Perth financial adviser from the industry for failing to act in the best interests of his clients while he was employed by a subsidiary of Westpac.

HLB Mann Judd

Crowdfunding to offer new equity opportunity

Mark Beyer Mark Beyer
17 Jul 2017

SPECIAL REPORT: Small and mid-sized businesses will soon have a new option for raising capital when crowd-sourced funding legislation takes effect. 

China Construction Bank

Third Chinese bank opens Perth branch

Mark Beyer Mark Beyer
13 Jul 2017

China Construction Bank has become the third Chinese banking group to establish a presence in Perth, and those managing its operations are planning to make a larger impact than the competition.

Euroz

Euroz flags larger profit, payout

Fraser Beattie Fraser Beattie
11 Jul 2017

Financial services business Euroz has flagged a surge in net profit for the 2017 financial year and an increased dividend payout, on the back of an improved performance by its broking arm.

Primary Securities

Landmark deal for MIS investors

Mark Beyer Mark Beyer
11 Jul 2017

Dogged legal action led by Fremantle-based Primary Securities has given investors in a failed Willmott Forests scheme the prospect of getting a return on their money.

Platinum to sell La Trobe products

Business News Business News
05 Jul 2017

West Perth-based Platinum Mortgage Securities has entered into a products sale agreement with La Trobe Financial, following a transfer of funds between the two businesses last year.

BDO

Report carves-up remuneration

Mark Beyer Mark Beyer
04 Jul 2017

Chief executives at mid-cap companies in Western Australia are better paid than their peers in other states, but those at small companies in WA are worse off, an in-depth remuneration survey has found. Click through to access the report. 

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