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Financial Services

Banished finance broker’s appeal denied

A former Get Approved Finance broker has had his appeal denied after a tribunal backed an earlier decision to permanently ban him from the industry.

RBA holds interest rate at 1.5%

The Reserve Bank of Australia is expecting a negative blip in economic growth at the end of this year but is not overly concerned about it.

Asic bans Perth mortgage broker

The Australian Securities and Investments Commission has permanently banned a former Perth-based finance broker after finding he had engaged in misleading conduct.

NAB, Westpac move on mortgage rates

National Australia Bank and Westpac have raised interest rates on certain types of mortgages as Australia's biggest lenders seek to offset some of the pressure on their margins.

Pioneer signs $100m facility

Perth-based financial services provider Pioneer Credit has signed a $100 million debt facility with Bankwest and Westpac as it seeks to continue growing its debt portfolio.

Rottnest Express partners with Westpac for UnionPay trial

Ferry operator Rottnest Express has partnered with Westpac to trial the use of a payment card that's popular with Chinese tourists, for online payment for its services to the tourist hotspot.

ACCC rejects banks' Apple bargaining bid

Commonwealth Bank of Australia, Westpac and National Australia Bank have seemingly failed to secure permission to collectively bargain with Apple for iPhone users to make mobile payments from their own digital wallets, rather than Apple Pay.

Bank execs to blame for breaches: inquiry

Senior executives have created a poor compliance culture at the four major banks and should be named and shamed over mistreatment of customers, a parliamentary inquiry has found.

Asic starts proceedings against State One

The Australian Securities and Investments Commission has launched civil proceedings against Perth-based State One Stockbroking, and in a separate matter has accepted undertakings from two liquidators employed by Melsom Robson.

Asic bans Perth insurance broker

The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial services after finding he had redirected $254,000 worth of clients' funds into his own accounts.

HLB Mann Judd grows with Sovereign buy

The wealth management division of HLB Mann Judd's Perth office has expanded with the acquisition of local financial advisory firm Sovereign Plus for an undisclosed sum.

Cash Converters to pay $12m after Asic probe

Perth-based Cash Converters International has agreed to refund $10.8 million to customers and pay a $1.3 million fine after enforceable undertakings were accepted by the corporate watchdog.

CEO lunch with Gary McGrath

Business News sat down to lunch at Julio's with Gary McGrath, the well-travelled GM of corporate banking at the Commonwealth Bank.

Euroz tops $1bn in funds

Euroz has reported a bumper first-quarter profit of $9.75 million, driven by strong growth in capital raising deals and good performances by its funds management businesses.

Market enables new listings

SPECIAL REPORT: The stock market's appetite for new listings is allowing a range of companies, from family-owned engineering firm Veem to big national player Alinta Energy, to raise capital.

Donnelly judgement discloses financial woes

Former footballer and insurance broker Andrew Donnelly has failed to overturn freezing orders that were imposed in January in relation to the alleged misuse of $5.1 million of trust funds from his old business.

Healthy numbers for HBF

The state's biggest health insurer, HBF, has shrugged off a challenging market to grow revenue and break the 1 million mark for membership, as it continues to push outside its Western Australian home base.

CEO lunch with Sherif Andrawes

Born in Egypt and raised in Scotland, Sherif Andrawes brings a world of experience to his role as WA chair of global accounting firm BDO, as Business News discovered over lunch at Julio's in West Perth.

Peppermint in deal with Philippines bank

Recently-listed technology company Peppermint Innovation will supply its remittance system to a bank based in the Philippines under a new partnership deal.

Vale Shane Gherbaz

Former stockbroker and the founding managing director of Euroz, Shane Gherbaz, has passed away after a battle with illness.

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