Clancy Yeates

Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.

ASIC chairman Greg Medcraft said upcoming guidelines aimed to preserve the independence of analyst research.

ASIC to strengthen 'Chinese walls'

The corporate regulator is pushing investment banks and stockbrokers to strengthen their handling of conflicts of interest and inside information when producing equity research for investors.

Westpac will see a small improvement in its capital position by selling down its stake in BTIM.

Westpac to offload up to $645m in BTIM shares

Westpac is selling its remaining stake in fund manager BT Investment Management, offloading up to $645 million worth of stock to institutional investors and signalling it intends to ultimately sell all shares it holds in the business.

Banks have led sharemarket falls, with the financial sector down 8.69 per cent since the start of May.

Bank rout wipes $50 billion in May

Some $50 billion has been wiped off the combined market value of Australia's major banks since their highs at the start of this month, as investors eye a more challenging outlook for the big four.