Troubled financial services company Superwoman Group has recorded a loss of more than $5.8m for the financial year ending 30 June 2010, which the company attributed to “poor management of the former senior management during the year until 17 May, 2010.” (Money Management)

Competition in the wealth management industry will be permanently damaged if the mid-tier fund manager IOOF is unable to live up to the expectations placed on it after National Australia Bank’s merger with AXA Asia Pacific, the rival suitor, AMP, has warned. (The Age)

A senior Reserve Bank official says the financial crisis was precipitated by a failure by many banks to properly appreciate the risks posed by unusual events. (ABC News)

Credit Suisse will award 400 senior staff in London a one-off bonus only months after slicing their compensation. The cut in compensation was in recognition of Britain’s controversial bonus tax. (The Australian)

Australia’s highest-profile sexual harassment case came within a whisker of being settled on the eve of the $37m damages suit being launched by the alleged victim Kristy Fraser-Kirk against David Jones and its former chief executive Mark McInnes. (Sydney Morning Herald)