News

24
Mar

National Australia Bank enjoyed a 47 per cent increase in cash earnings during its first quarter trading, helped by improving economic and health outcomes in Australia and New Zealand. However, presenting the bank’s first quarter trading update, chief executive Ross McEwan said there were still uncertainties, such as the impact of ongoing health alerts and […]

01
Jul

ASIC bans former Westpac adviser Phillip Bruni over misconduct

ASIC bans former Westpac adviser Phillip Bruni over misconduct The corporate watchdog has slapped a financial services life ban on a former Westpac adviser in Perth accused of producing fake documents. The Australian Securities and Investments Commission alleged Phillip Emidio Bruni had retrospectively created advice documents and reproduced a client’s signature. A review by ASIC […]

01
Jul

What happens after interest rates hit zero?

What happens after interest rates hit zero? What comes after zero? It’s a question that observers of official interest rates may start asking if Australia’s sputtering economy continues to wheeze in 2020. What would zero per cent interest rates look like? Is it free money? Does it make borrowers go bananas? What do savers do […]

01
Jul

Mortgage broker AFG reshuffles to meet tighter regulations

Mortgage broker AFG reshuffles to meet tighter regulations Mortgage-broking group AFG has reshuffled management after the banking royal commission, with an eye to protecting its patch from tighter regulation. The Perth-based national network has appointed Mark Hewitt to a new position of general manager industry and partner development. “Mark has played a significant role in […]

01
Jul

UK fintech Revolut launches in Australia

UK fintech Revolut launches in Australia A European fintech that has been described by some as “the Amazon of banking” has become the latest so-called neobank to launch in Australia. Revolut opened a beta version of its local app on Thursday, with nearly 20,000 Australians on its waiting list simply, the firm says, from word […]

01
Jul

CBA sells Count Financial advice business

CBA sells Count Financial advice business Commonwealth Bank has agreed to sell its Count Financial advice business for $2.5 million, but will still manage customer remediation related to past issues. The lender says it will sell the unit to CountPlus Limited, an ASX-listed financial services firm in which it is the largest shareholder. CBA will […]