The corporate watchdog has told Commonwealth Bank of Australia's financial planning unit to stop charging customers with fees after failing to meet its obligations from the fees-for-no-service scandal.
Australian shares are in positive territory at midday after stocks in the four major banks gained, shaking off concerns about the release of the financial services royal commission on Monday afternoon.
Oil prices rose about 3 per cent on Friday on upbeat US jobs data and signs that US sanctions on Venezuelan exports have helped tighten supply, then extending gains after weekly data showed U.S. drillers cut the number of oil rigs.
Gold prices were steady overnight, having earlier hit their highest in nine months after the US Federal Reserve kept interest rates steady and said it would be patient on further hikes, keeping bullion on track for a fourth-straight monthly gain.
Clean technology company Eden Innovations has announced it is planning to raise $9.8 million through a share placement and rights issue after running down its cash balance to $1.35 million at the end of December.
Gold has inched lower but stayed close to its highest in more than eight months as the US dollar ticked up on better-than-expected US private-sector jobs data and investors waited to hear about the Federal Reserve's decision on monetary policy.