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ASIC bans director of Global Merces Funds Management Ltd


Date Time
ASIC bans director of Global Merces Funds Management Ltd
ASIC has banned Holly Marie Grofski, the director of Global Merces Funds Management Ltd (Global Merces), for a period of six months.
ASIC’s banning order prohibits Ms Grofski from controlling, whether alone or together with others, any company or other entity that carries on a financial services business until 28 October 2021.
An ASIC surveillance found that Ms Grofski was involved in Global Merces’ failure to comply with its Australian financial services (AFS) licence conditions. Global Merces failed to replace key persons named on its licence, to meet its and to meet notification requirements. ....

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Japan Post, Allegro finalise Toll Global Express deal


Japan Post, Allegro finalise Toll Global Express deal
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Japan Post and Allegro Funds have agreed a deal for Toll Group’s Global Express unit.
The deal is expected to see Japan Post record net proceeds worth less than $10 million for the unit, and Allegro would assume its liabilities.
Street Talk 
It is slated to be announced later on Wednesday.
Japan Post’s told shareholders on Wednesday morning it was meeting to discuss the sale of some of Toll’s operations. The transaction would likely result in another large write down for the Japanese company.
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Japan Post, advised by JPMorgan and Nomura, and Allegro have been in exclusive talks to finalise a transaction for the past week, as revealed by Street Talk.  ....

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'China expert' to examine USyd's 'foreign influence' risks


The move comes amid increasing pressure from government on foreign interference in universities.
April 20, 2021
The University of Sydney has engaged “China expert” John Garnaut, through consultancy firm McGrath Nicol, “as part of a range of initiatives…to manage the risks of foreign interference.” 
Garnaut is a former
Sydney Morning Herald China correspondent and aide to former PM Malcolm Turnbull. A University spokesperson described Garnaut as “a respected China expert with a deep understanding of Chinese institutions.” An article written by Garnaut in 2015 was the subject of a successful defamation claim by businessman Chau Chak Wing. In 2015, Chau Chak Wing donated $15 million to the University to fund the construction of the Chau Chak Wing museum.  ....

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