Business

CommInsure report an indictment on the whole industry

Nick Bishop couldn't claim on his policy

It's the dirty secret CommInsure and the rest of the life insurance industry has been protecting for years: the ability to sell dud policies that contain outdated medical definitions that no one will pay out on. They can do this – and they do – because it doesn't breach the law.

Slater and Gordon expected to avoid collapse

Slater & Gordon's has suffered a backlash from shareholders over its pay packages.

Financially distressed listed law firm Slater and Gordon is expected to avoid collapse after confirming that its new senior lenders are supportive of a restructure of the company.

A few bad apples? It's a dodgy adviser orchard

This clearly isn't a few bad apples but an orchard.

A report into the financial planning arms of the big four banks and AMP found 185 planners were "dishonest, illegal, deceptive and/or fraudulent" in their dealings with customers.

'Wake up call' - report rips into banks on planners

Peter Kell, deputy chairman at ASIC, has criticised the banks.

Australia biggest banks are taking up to six months to notify the corporate watchdog when they find misbehaving advisers and frequently fail to properly check the background of the financial planners they employ.

NAB sailing the RBA winds to profit

NAB chief executive Andrew Thorburn: Hats off for smart PR by throwing in a "special" for first-home buyers.

If the Reserve Bank and National Australia Bank were competitors, the consumer watchdog could have a case against them for price signalling.

NAB raises variable, investor home loan rates

Variable rates for owner occupiers were being increased in part due to fierce competition and increased regulation and ...

National Australia Bank will tap the brakes on a resurgent investor market by hiking interest rates on variable home loans for property investors, while also increasing rates for owner occupiers.

'Careless' Credit Suisse to pay $170,000 penalty

The bank has been found to have failed to have the appropriate filters about 9800 orders for options market contracts.

Investment bank Credit Suisse has copped a $170,000 fine from the market watchdog after its clients were able to place almost 10,000 orders in the options market without the appropriate limits on prices in place.

8@eight: Bulls back at the gate

Investors are playing it safe.

The bulls have taken over again as the US and European market caught a bid with triple digit gains in the DOW and solid gains in the commodities space. The bullish picture for equities remains as the blame game around the failed repeal of the Obama healthcare act and politics in general take a back seat once again to real economic growth.

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