Australia
Australian adviser given life ban for stealing A$2.3m
An Australian financial planner has been jailed and permanently banned from providing financial services after pleading guilty to stealing more than A$2.3m (£1.3m, $1.7m, €1.5m) from a nurse to fund his lavish lifestyle.
Collapsed Australian investment firm bosses fined over A$600m
Five former executives connected to collapsed Australian finance group MFS have been ordered to pay more than A$600m (£350m, $450m, €400m) in compensation to investors by the Supreme Court in the state of Queensland.
Advice failures cost Australian banks $150m in fines
Australia’s largest banks and leading wealth manager AMP have so far paid A$60m towards a A$200m (£114,48, €133,563, $148,720) fine for charging customers for financial advice they did not receive, according to the country’s financial services regulator.
People Moves | 15 May 17
Ohanessian reinstated as Praemium chief exec after board purge
Michael Ohanessian has been reappointed chief executive of Australia-based platform provider Praemium following a shareholder vote to remove the chairman and three directors last week.
People Moves | 12 May 17
Praemium’s ex-CEO triumphs as chairman and board are removed
Michael Ohanessian, the former chief executive of Praemium, has successfully ousted the company’s chairman and three directors who sacked him in February 2017.