Banks to fight Storm legal action
Thursday, 23 December 2010
The major banks targeted by legal action brought against them by the Australian Securities and Investments Commission as part of the Storm Financial scandal say they will defend their involvement and that they are not responsible for losses caused by the company's ...

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Harvey Norman invests $55m in Clive Peeters: Economy Roundup
Friday, 02 July 2010
Retail giant Harvey Norman will buy stock in collapsed whitegoods retailer Clive Peeters, saying in a statement it would also purchase plant and equipment along with "know-how, intellectual property rights and systems".  ...

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Clive Peeters to shut down six stores, George Soros warns on Act II of GFC: Economy Roundup
Friday, 11 June 2010
The receivers of collapsed whitegoods retailer Clive Peeters will shut down six stores, with the loss of 75 jobs, as the business is prepared for sale.  ...

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Industry welcomes financial advice reforms, but Opposition claims changes will hit small business
Tuesday, 27 April 2010
Accountants and financial planners have broadly welcomed the Government's decision to ban financial planners from receiving commissions on products they sell, despite claims from the Opposition that the changes could hurt small businesses in the planning industry. ...

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Australian Industry Group calls for $12 boost to minimum wage: Economy Roundup
Friday, 19 March 2010
The Australian Industry Group has called for Fair Work to take a cautious approach in adjusting the minimum wage, saying the ability of businesses to hire could be affected.  ...

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Commonwealth Bank makes $200 million settlement with Storm customers
Wednesday, 24 February 2010
Lawyers for clients of collapsed financial services firm Storm Financial have negotiated a $200 million settlement with Commonwealth Bank, which provided loans to many Storm clients.  ...

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Businesses hit by Bank of Queensland EFTPOS bug
Monday, 04 January 2010
The Y2K bug struck a decade late last week, with businesses across the country losing thousands in potential sales due to a computer glitch that caused EFTPOS machines to reject customers' cards as the calendar turned over to 2010.  ...

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The best and worst awards of 2009
Thursday, 17 December 2009
What an incredible year it has been. Just seven months ago we were facing what some pundits labeled the worst economic crisis since the Great Depression and were told to batten down the hatches for at least another two years of economic ...

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10 ways to make money
Tuesday, 08 December 2009
The best strategies for the 12 months ahead are straightforward: take full advantage of the rising sharemarket while simultaneously giving more attention to controlling your investment risks and costs.  ...

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Knock-on effects
Friday, 04 December 2009
Smart companies that are cutting back on their Christmas parties, substituting an offer of continued employment for the annual bonus and finalising their New Year resolutions need to take a close look at their risk management projections for 2010.  ...

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CEO turnover soars during downturn, survey shows
Friday, 27 November 2009
The number of chief executives forced out of their positions has risen, with Australia's turnover rate reaching a massive 22% during 2008, a new survey has revealed.  ...

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Parliamentary inquiry recommends tougher rules for financial planners, but no ban on commissions
Tuesday, 24 November 2009
A Federal Parliamentary inquiry into the financial planning sector has recommended that financial planners be subject to a new fiduciary duty to place their clients' needs ahead of their own, but has stopped short of advocating a ban on commissions paid to ...

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Financial planning reforms heading in the right direction: Kohler
Tuesday, 24 November 2009
At first sight the Ripoll Committee's report looks disappointing, but with a second, closer look it gets better.  ...

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Consumer groups, super funds and unions urge Government to ban commissions for financial planners
Wednesday, 18 November 2009
The pressure on the Government to reform the financial planning sector in the wake of the collapse of Storm Financial is increasing, with a group made up of representatives of the union movement, the industry super funds sector and consumer groups urging the ...

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Caught in a Storm
Thursday, 05 November 2009
The founder of collapsed financial planning group Storm Financial, Emmanuel Cassimatis, finally took to the witness box yesterday to face public examination in the Federal Court in Brisbane.  ...

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Storm clients settle legal action amid revelations margin calls were not passed on
Friday, 30 October 2009
More than 50 clients of collapsed financial services firm Storm Financial have reached a settlement with Commonwealth Bank, which lent the Storm clients money to invest.  ...

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A debt Storm
Wednesday, 21 October 2009
The public examinations into the collapse of Storm Financial, which are being conducted in the Federal Court in Brisbane, have heard countless tails of woe from investors who lost everything when the company went down earlier this year.  ...

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Storm founders got $2 million payment as company headed for disaster, court told
Tuesday, 13 October 2009
Julie Cassimatis, co-founder of collapsed financial advice company Storm Financial, transferred $2 million to her personal bank account even after she was warned the company was in serious financial trouble, the Federal Court in Brisbane has heard.  ...

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Financial investment complaints rose 33% in 2009, Ombudsman says
Thursday, 01 October 2009
The number of complaints regarding managed investments doubled in the 12 months to June with disputes about margin loans increasing over 400%, the Financial Ombudsman Service said yesterday.  ...

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Financial planning group Announcer placed in administration
Friday, 31 July 2009
Sydney-based financial planning firm Announcer Group has been placed in administration, but co-founder and director Andrew Rocks insists the company is in no danger of collapse and the business is trading as usual.  ...

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