ASIC bans former Avestra directorsBY ALEX BURKE | WEDNESDAY, 17 MAY 2017 12:20PM
Former directors of Avestra Asset Management have been banned from providing financial services for 10 years.Read more: ASIC, Avestra Asset Management, Federal Court, Courtenay House Capital Trading Group, Clayton Dempsey, Paul Rowles, Grant Thornton, John Price, Supreme Court of NSW, Tony Iervasi
In light of the Royal Commission, the Turnbull Government has increased criminal and civil penalties for corporate misconduct and boosted ASIC's surveillance powers.
Powerwrap has confirmed it recently completed a pre-IPO capital raise to the tune of $7.5 million.
Two Blue Sky funds have been rated "unapproved" and "low investment grade" by SQM Research after the manager conceded it had fallen short of shareholder expectations.
The financial advice industry is grappling with a sales culture mentality and is only at the "cusp" of being a "true profession," this morning's session of the Royal Commission has revealed.
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