Latest news (24,242 items)

Stubborn AMP ‘surrenders’ legal briefs

AMP and Clayton Utz have surrendered in their court battle with ASIC over failure to produce documents. Clayton Utz has now provided ASIC “with its internal file notes from the firm’s interviews with current and former employees and officers of AMP,” the financial regulator gloated in a media release yesterday.These briefings were often with very high level executives and mediated at the AMP end by the group counsel, Brian Salter, who left AMP last year. read more

Defensive turn from Westpac

In their fifth appearance before the House of Representatives Standing Committee on Economics, Westpac's CEO Brian Hartzer and his group CFO Peter King played it safe on a range of issues arising from the royal commission. Oddly, the bank says it is “not aware of any individuals that have been referred or are being looked at” for prosecution following the royal commission. read more

Credit funds target the fast market

Australian credit fund managers, whose businesses have been built supporting private equity deals with debt funding, are plotting a move into the corporate lending market.The target: “Businesses are spending heavily on business development and have no free cash flow. They need additional capital.” read more

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