Federal Court proceedings have been issued in the shareholder class action against Commonwealth Bank of Australia, which is being funded by Perth-based IMF Bentham.
Commonwealth Bank of Australia has sold its trans-Tasman life insurance businesses, CommInsure Life and Sovereign Assurance, for $A3.8 billion ($4.15 billion) to global insurer AIA Group.
Gascoyne Resources has mandated two of Australia's largest banks to arrange a $60 million debt facility for the development of its Dalgaranga gold project in the Murchison region.
Australia's financial sector regulator has appointed three panel members to inquire into the Commonwealth Bank of Australia's governance, culture and accountability.
The Reserve Bank of Australia has kept the official cash rate on hold at 1.5 per cent and repeated its concern that an appreciating Australian dollar could slow economic growth.
IMF Bentham has confirmed it will fund a Federal Court open class action against the Commonwealth Bank relating to allegations the lender breached anti-money laundering and counter-terrorism funding laws.
Commonwealth Bank of Australia will face an inquiry by the prudential regulator after a series of issues at the country's largest bank prompted concerns about its governance, culture and accountability.
The state’s first early stage venture capital limited partnership is one of three funds announced by Western Australian money managers this year, and one of two in a joint project by Cottesloe-based View Street Partners and Nedlands-based Mac Equity.
One of the state’s most experienced financial services leaders, John Van Der Wielen says the opportunity to put something back into the community was one factor motivating his move to HBF.
Commonwealth Bank of Australia chief executive Ian Narev will step down by the end of June after Australia's largest bank decided to deal with speculation over his position following allegations the lender breached money laundering and terrorism-financing laws.
Commonwealth Bank of Australia is being investigated by the corporate regulator over its alleged breach of money laundering and terrorism financing laws.
Commonwealth Bank of Australia has reported an increase in cash profit to $9.8 billion for the 2017 financial year, while its Perth-based subsidiary, Bankwest, delivered a fall in profit as a result of increased home loan impairments.
Commonwealth Bank of Australia executives, including CEO Ian Narev, will be hit in the pocket over the bank's more than 53,000 alleged breaches of anti-money laundering and counter-terrorism financing laws.
Commonwealth Bank of Australia has suggested that 53,000 alleged breaches of money laundering laws listed in a case brought against it by regulators could be treated as a single matter because they all stemmed from the same IT error.
The Australian share market has bounced back from its previous session's losses, starting the week comfortably higher on the back of strength in the mining and energy sectors.
The Australian Securities and Investments Commission has slapped a five-year ban on a Queensland-based former employee of stockbroking firm Patersons Securities, after he made unauthorised trades on a client account and created false records on two further accounts.
Treasurer Ben Wyatt has all but ruled out the introduction of a bank tax in the September budget but has kept the option open for a future decision, while the industry has called on the state government to protect Western Australia’s economic growth by not bringing in the levy.
Westpac has entered into exclusive discussions with property giant Charter Hall Group to sell its infrastructure investment business Hastings Management.
Bankwest is lifting mortgage rates for interest-only loans, following the lead from the big four banks, which already adjusted rates in an attempt to slow down riskier lending.
Australia's biggest banks will have to find billions of dollars of extra cash by 2020, but the new requirement does not look like being much of a problem for them.
The corporate watchdog has banned a Perth financial adviser from the industry for failing to act in the best interests of his clients while he was employed by a subsidiary of Westpac.
