Peter Kell

A Perth based mortgage broker has been permantely banned from practising after he falsified a letter stating finance approval had been provided for a client, the Australian Securities and Investment Commission announced today.

Perth-based insurance broker John Barr has been banned permanently from providing insurance for engaging in misleading and deceptive conduct, potentially exposing clients to up to $40 million in losses.

The Commonwealth Bank of Australia has agreed to release $2.2 million into the hands of about 45,000 of its customers who had money left on expired CBA travel money cards.

The corporate watchdog has permanently banned local brokers Eric-John Pryor and Peter McDonald from providing credit and financial services after being found to have engaged in misconduct when brokering car financing for a business in Victoria Park.

ANZ Banking Group subsidiary Esanda has agreed to compensate more than 70 borrowers who took out car loans worth $1.38 million through Victoria Park-based broker Get Approved Finance.

Commonwealth Bank of Australia will hand back a massive $80 million to customers after discovering it failed to apply fee waivers and other benefits to which they were entitled.

The corporate watchdog has banned a third former Get Approved Finance broker from providing credit and financial services, after she was found to have engaged in misconduct.

A Mandurah-based payday lender that collected exorbitant fees and interest repayments from customers will pay them back $34,500.

ANZ Banking Group will refund about $5 million to around 25,000 customers, including pensioners, after botching their account fees.

Another head has rolled in the corporate watchdog’s investigation into Victoria Park-based car financing business Get Approved Finance, with Grant Parker permanently banned from the industry.

The corporate regulator has blasted the insurance industry over expensive, poor-value add-on policies sold to car buyers, warning there are "serious problems" in the market that must be fixed immediately.

The Australian Securities and Investments Commission has agreed to an enforceable undertaking with local financial planner Neo Financial Solutions, after surveillance of the business raised concerns about risk management and compliance frameworks.

The Australian Securities and Investments Commission has permanently banned a former Perth-based finance broker after finding he had engaged in misleading conduct.

The corporate watchdog has removed another Perth-based financial adviser from the industry, for mishandling payments and deceiving clients.