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Australia
Citigroup to shell out over A$3m for bad advice
Structured products resulted in losses for 114 retail customers – with over 1,000 still trapped
Royal Commission sparks Aussie wealth manager lawsuit
Law firm said ‘management must have known that its conduct was risky legally and reputationally’
Aussie bank sells advice arm to financial services subsidiary
It has also sold another wealth business to an accountancy practice
Aussie regulator tightens licence conditions of two advice firms
Request to make investment decisions on behalf of clients raised red flags
Australia moves to shut down grandfathered commissions
Advisers have a month to respond to a consultation
