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Financial Planning

ASIC bars former securities dealer from practicing financial services

Former Victorian securities dealer Martin James Donohue has been permanently banned from acting as a securities dealer or investment adviser representative, following an investigation by the Australian Securities and Investments Commission (ASIC).

Trust Company upgrades full-year profit expectations

Trust Company has upgraded its expected earnings before business and tax, for the financial year ended 28 February 2004, to be around $17 million - $3 million higher than the previous expectation announced in May 2003.

Credit Union Services launches Wealth Creation booklet for consumers

Credit Union Services Corporation (CUSCAL) has a new Wealth Creation booklet to join its other publications in its "Take Control" consumer financial education series.

S&P affirms A-minus rating on Medicare Insurance

AAP  |  MONDAY, 6 OCT 2003
Standard & Poor's said today that it affirmed its A-minus counterparty credit and insurer financial strength ratings on Medical Insurance Society Ltd (MIS).

ASIC to hold investor forums in Australia

Fresh from announcing legal action against property promoter Henry Kaye, and the successful conviction of former Adelaide financial adviser Hamish McLachlan, the Australian Securities and Investments Commission (ASIC) is to hold a series of free investor ...

Telstra announces off market share buy back

AAP  |  FRIDAY, 3 OCT 2003
Telstra Corp Ltd today said it would buy back between $800 million and $1 billion of its own shares in an off market tender process.

Wattle Group saga claims yet another former adviser

A former Adelaide investment adviser and principal of Golconda Resources, was today sentenced in the District Court in Adelaide on 62 charges brought by the Australian Securities and Investments Commission (ASIC).

Macquarie provides solution for FSR compliance

Macquarie Bank has provided a solution for financial advisory businesses that require a $20,000 Performance Bond in order to apply for a new Australian Financial Services Licence (AFSL) for compliance with the Financial Services Reform Act (FSRA).

ASIC provides additional guidance for FSR relief applicants

The Australian Securities and Investments Commission (ASIC) today announced it is providing additional guidance on the factors it considers, when assessing applications for relief from the licensing or disclosure provisions of the financial services ...

Record September trading at Commsec

AAP  |  THURSDAY, 2 OCT 2003
Commonwealth Bank of Australia's internet broking arm Commsec has reported a record trading month in September, but doesn't put this down to the recent acquisition of a key rival.