Australia
Aussie adviser banned and convicted of 97 counts of fraud
The Australian Securities and Investments Commission (Asic) has permanently banned a former adviser who was found guilty of 97 counts of fraud and 10 counts of stealing and sentenced to six and a half years’ imprisonment.
‘Dramatic year’ fails to dent Praemium’s growth
Strong growth both in Australia and internationally pushed funds under administration at Praemium up 28% to A$6.1bn (£3.6bn, $4.7bn, €4bn) in spite of the boardroom turmoil that saw the company’s chief executive sacked and then return a few months later.
Australia’s biggest bank flags sale of life insurance business
The Commonwealth Bank of Australia (CBA) is in talks to sell its life insurance business, the bank has revealed as it reported a 4.6% rise in annual cash earnings to AUD9.88bn (£6bn, $7.8bn, €6.64bn) and raised its dividend.
Aussie advisers face years of imprisonment after ASIC action
Two banned financial advisers from Australia are facing years in prison for their malpractice following a series of inquiries by the Australian Securities and Investments Commission (Asic).
Australian boutique eyes London expansion with fund launch
Australian investment manager Antipodes Partners has launched a global equity fund to the UK market ahead of plans to expand its London office later this year.