Commonwealth Bank will have to hold an extra $1 billion in minimum capital after the banking regulator said large profits had blinded the lender to threats such as the money-laundering scandal that ended the tenure of its CEO.
AMP chair Catherine Brenner has quit with immediate effect as the fallout widens from the fees-for-no-service scandal at the Financial Services Royal Commission.
The banking regulator has announced plans to remove the cap it placed on property lending to investors three years ago in response to booming borrowing levels and an overheating property market.
Collie could soon be home to a 20 megawatt solar farm and cryptocurrency 'mining' operation, after the Southern Development Assessment Panel recommended approval for a project led by energy entrepreneur Ben Tan.
AMP has had $1 billion wiped off its market value during a royal commission appearance in which the wealth management giant admitted to charging clients for advice they never received and then lying about it to the corporate watchdog.
Former Perth finance broker Peter Lachlan McDonald has pleaded guilty to giving false information and fraud charges following an investigation by the corporate watchdog.
Commonwealth Bank of Australia has agreed to pay $3 million after the corporate watchdog found two of the lender's financial planning arms charged customers millions of dollars for advice they did not receive.
Accounting firm BDO has appointed Perth-based chairman Sherif Andrawes as its global natural resources leader, replacing Charles Dewhurst from the company’s US arm, after 12 years in the role.
Local fintech company DigitalX has announced it will open a cryptocurrency-focused investment fund and launch two digital currency websites with Perth-based media company Multiplier.
Incoming chief executive Matt Comyn has already started his overhaul of the Commonwealth Bank's leadership team, with three senior executives set to depart.
Global payroll and tax compliance specialist activpayroll has set up an Australian headquarters in Subiaco to grow client capacity, as its Perth-based subcontractor, Proactiv Payroll, takes on new ventures.
The corporate watchdog has today released a report outlining changes made by the big four banks to small business loans to remove unfair terms, while the Australian Competition and Consumer Commission has flagged concerns with the major banks’ mortgage pricing strategies.
Former banker and company director Warwick Kent, who led the revival of Bankwest after big losses in the early 1990s and through its subsequent privatisation, passed away this week at his home in NSW.
Perth-based company Superfunded has been placed into liquidation after the Federal Court made orders to wind-up the business following an application by the corporate watchdog.
A number of local mining companies have moved up the stock market rankings, with contractor Ausdrill included in the S&P ASX 200 index, while South32 has been admitted into the top 20 as part of the market’s quarterly rebalance.
Commonwealth Bank will refund another $16 million to credit card and loan insurance customers after finding more people were sold policies they would not be able to claim on.
The Australian Securities and Investment Commission has applied to the Federal Court to appoint a liquidator to local company Superfunded, owned by former financial adviser Mark Goldenberg.
Commonwealth Bank has denied liability in a shareholder class action alleging it breached continuous disclosure obligations with its handling of an Australian Transaction Reports and Analysis Centre investigation into its compliance with money-laundering and terrorism-funding laws.
The corporate watchdog has banned Perth-based financial adviser Philip Leake from providing financial services for the next five years after he was found to have given poor advice to a number of clients.
A new book by Meerkats co-founder Mike Edmonds, Truth, Growth, Repeat, expounds a business philosophy influenced by four decades of advertising industry experience, good and bad.
WA Super has finalised its merger with fellow local superannuation fund Concept One, with the pair combining to form a $3.4 billion fund with more than 60,000 members.
EY has named Fiona Drummond as its next managing partner in Western Australia, making it the second of the big four accounting firms to have a female heading its Perth office, and only the sixth out of 86 accounting firms listed on the BNiQ Search Engine.
Three of Australia's big four banks have begun rolling out their new $1 billion payment system that allows customers to transfer funds between rival institutions in near real-time.
