Australia
Aussie bank CBA set for A$4bn global asset management arm IPO
Commonwealth Bank of Australia is to list its Colonial First State Global Asset Management business in a deal that analysts predict could net as much as A$4bn (£2.2bn, $3.1bn, €2.5bn).
AMP admits misleading Aussie regulator over fees
The group executive of advice at financial services giant AMP has admitted the firm intentionally misled Australia’s regulator over fees, as the Royal Commission into banking, superannuation and financial services targets financial advice.
Antipodes Partners unveils long global equity Ucits strategy
Boutique Australian investment management firm Antipodes Partners has launched its second Ucits vehicle investing in global equities.
ANZ fined A$3m for advice client review failings
Australia’s ANZ Bank has been fined for charging fees but providing no service after the country’s financial watchdog found it had failed to produce documented annual reviews to more than 10,000 financial advice customers over a seven-year period.
10 year jail sentence for record-breaking tax scam
A disgraced Australian businessman has been sentenced to 10 years in jail for his involvement in a A$135m (£74m, $103m, €84m) international tax avoidance scam, bringing an end to what has been described as the largest tax fraud case in the nation’s history.