Australia
Aus bank boss nabs pay rise despite fleecing advice clients
At a grilling in parliament on Friday, the chief executive of the National Australia Bank revealed its head of financial planning had received a 36% pay rise even after it emerged customers had been charged A$34.7m ($26m, €25m, £21.5m) for advice they did not receive.
People Moves | 22 Feb 17
Praemium sacks chief executive Michael Ohanessian
Australia-headquartered platform provider Praemium has terminated the employment of chief executive and managing director Michael Ohanessian.
Tax & Regulation | 20 Feb 17
Aus eyes beneficial ownership list in tax avoidance crackdown
The Australian government is consulting on setting up and maintaining a register that would reveal the identities of the companies’ beneficial owners.
Australia’s IOOF profits fall after trimming adviser business
One of Australia’s biggest and oldest independent financial advice and wealth management companies, IOOF, has posted a 45% drop in net profit for the six months to 31 December 2016.
ETF Securities targets Australia following Hong Kong exit
UK-based ETF Securities has said it will focus on expanding its presence in Australia following the asset manager’s exit from Hong Kong earlier this year.