Risk Company Update

Company Updates

AMP receives approval to sell life business

AMP has received approval for the sale of its life insurance business to Resolution Life. The sale was declared in 2018 but hit some obstacles, however, it is now to go ahead for $3 billion.

Euroz and Hartleys to merge

Two Western Australian financial firms, Euroz and Hartleys, are looking to merge. Euroz issued up to 33 million shares at $0.915 each as consideration for 100 per cent of Hartleys. Hartleys shareholders are set to own around 17 per cent of the joint entity. Staff will be shared. The merger is subject to a 90 per cent minimum acceptance condition, with both parties confident.

TPB and FPA sign agreement to share data

The Tax Practitioners Board (TPB) and the FPA have signed a memorandum of understanding to facilitate information exchange between the two professional bodies. The shared compliance information includes the Tax Agent Services Act 2009 (TASA) and the Code of Professional Conduct. The two bodies will be able to engage, cooperate and share information regarding misconduct by tax practitioners, data trends and continuing professional education.