The end of the financial year has triggered the sale of a spate of long-running private companies in Western Australia, including global tech leader Immersive Technologies, mining consultancy CSA Global and Action Industrial Catering.
An internal investigation is under way at the corporate watchdog over the collapse of investment company Sterling First, which Business News first revealed had entered administration last month.
Shaw and Partners has acquired Perth-based financial advisory and planning firm DJ Carmichael, which has approximately $650 million funds under its advice.
The Australian Securities and Investment Commission has begun civil proceedings against Perth-based RM Capital, alleging that an authorised representative for the firm was engaged in conflicted remuneration.
The Tax Practitioners Board (TFB) announced this morning that it had terminated the tax agent registration of Peter Moltoni, following an investigation into the Perth accountant’s ties to a shell company in the British Virgin Islands.
The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial advice, following his conduct as a representative of Westpac and The Financiallink Group.
The Reserve Bank of Australia has cut the cash rate to 1.25 per cent, a day after CoreLogic data revealed Perth house prices continue to fall more sharply than other state capitals.
Advanced Share Registry has estimated its profit it will decrease by around $350,000 this financial year, which it said is partly due to a reduction in corporate activity.
Independent corporate advisory firm Azure Capital has announced two major changes, with French banking group Natixis buying a majority stake while sister company Azure Consulting will be bought out by its four partners.
Pioneer Credit’s shares have surged 27.4 per cent to close at $2.51 each, after the company confirmed it has received a takeover proposal at a “material premium” to its current share price.
The corporate regulator has banned a Perth accountant from providing financial services for six years after an investigation found he bought and sold shares for clients so companies could meet the minimum requirement to be listed on the stock exchange.
Housing finance provider Australian Finance Group says lending for homes in the first three months of 2019 in Western Australia has plunged to the lowest level since it began tracking mortgage values in mid-2012.
A former insurance broker who admitted funnelling almost $200,000 owed to clients into his own bank accounts has been sentenced to two years and nine months imprisonment.
Perth-based P&N Bank has agreed to merge with its smaller east coast counterpart bcu, creating one of the largest customer-owned banks in Australia with $6 billion of assets.