Home loans help lift Westpac
Michael RoddanWestpac lifts interim cash profit 6pc to $4.25bn amid home loan growth, after questions about its mortgage book.
ANZ axes bonuses for advisers
Michael RoddanANZ has pledged moves to improve its financial planning business in the wake of damaging royal commission revelations.
UpdatedFaith in Wilkins to restore trust
Michael RoddanMike Wilkins is one of the most experienced executives in the financial services sector.
BT audits raise alarm on advice
Michael RoddanAudits of Westpac’s BT Financial Group show low compliance with anti-money-laundering laws and a high risk of poor advice.
Anger over collapse in AMP value
Michael RoddanAMP’s biggest investors are urging the company to hose down bushfires seen to be damaging the business from the inside out.
Rogue planners rock industry
Ben Butler, Michael RoddanThieves and liars want to get their hands on your money. That’s the devastating picture from the royal commission.
exclusiveABA’s Bligh had time in mind
Michael RoddanThe Australian Banking Association lobbied the government to limit how far back the royal commission could investigate.
Hayne flags end of wealth model
Michael Roddan, Ben ButlerThe largest banks and wealth management companies in Australia are at risk of being broken up.
banks inquiry‘AMP committed crimes’
Ben Butler, Michael RoddanAMP’s share price has tapped a six-year low after the bank inquiry hears it committed crimes by misleading ASIC.
EXCLUSIVEBligh tried to limit bank probe
MICHAEL RODDANLobby group chief Anna Bligh sought to limit how far back the bank inquiry could investigate misconduct, documents show.
Witness collapses at inquiry
Ben Butler, Michael RoddanA large advice house tried to protect itself by using an “Orwellian” client protection policy, royal commission hears.
Planner collapses on witness stand
Ben Butler, Michael RoddanA financial planning boss was last night in hospital after collapsing in the witness stand at the banking royal commission.
APRA scraps cap on investor loans
Michael RoddanAPRA says it will get rid of the 10 per cent limit on property investor borrowing because it ‘has served its purpose’.
Super rollover plan for SMSFs
Michael RoddanProposed reforms look set to entrench the growth in self-managed super funds in the nation’s superannuation system.
updatedTough questions before collapse
Ben Butler, MICHAEL RODDANA witness has collapsed during a tense interrogation at the bank inquiry in Melbourne this afternoon.
APRA ends property investor cap
Michael RoddanThe banking regulator has moved to junk strict limits on property investor borrowing, citing lenders’ improved standards.
exclusiveAMP told to come clean on super
Michael RoddanSome of AMP’s biggest customers want it to reveal any unscrupulous practices in its $28bn corporate super business.
Celebrity adviser misled clients
Ben Butler, Michael RoddanCelebrity financial adviser Sam Henderson wrongly told clients he had a master’s degree in commerce.
updatedCelebrity planner’s ‘risable’ advice
Ben Butler, Michael RoddanSam Henderson has been dumped by media outlets after inquiry hears he wrongly told clients he had a Master’s degree.
Law forces line up against AMP
Michael RoddanSlater and Gordon has signed up global litigation funder Therium to pursue one of three potential class actions against AMP.
AMP clients ‘in dark’ on advice
Ben Butler, Michael RoddanAn already reeling AMP has been smashed again in a day of horror at the banking royal commission.
ANZ’s $80m restructuring cost
Michael Roddan, Ben ButlerANZ is spending more on redundancies and restructuring than legal fees for the banking royal commission.
Three lawsuits looming for AMP
Ben Butler, Michael RoddanWealth management firm AMP is facing the threat of three separate class-action suits in the wake of the royal commission.
AMP sinks as grilling rolls on
Ben Butler, Michael RoddanAn AMP planner steered clients into buying property through a real estate firm he secretly co-owned, inquiry hears.
updatedAMP faces three class actions
Michael Roddan, Ben ButlerThree law firms say they are poised to launch class actions against AMP, amid more revelations at the banking inquiry.
EXCLUSIVECBA gave Austrac board minutes
Michael RoddanCBA was forced to hand Austrac board meeting minutes more than a year before Austrac sued the lender in the Federal Court.
‘Drain the swamp’: Fury builds
Michael RoddanThe forced resignation of AMP’s CEO appears to have fallen short of expectations as company is warned of a “death spiral”.
Bank inquiry claims first scalp
Michael Roddan, Ben ButlerAMP has apologised and its “devastated” boss Craig Meller has stood down immediately after revelations of misconduct.
Pressure on AMP board
RICHARD GLUYAS, MICHAEL RODDANBesieged AMP chief executive Craig Meller has emerged to apologise to the adviser network for the fee-for-no-service scandal.
