Complaints over CGI systems failure continue

8 July 2009 | Former clients of Storm Financial and Colonial Geared Investments are continuing to voice frustration about the shortcomings of the system employed by CGI in managing their margin lending and share portfolios during the market dislocation last year and in the weeks prior to the total sell-down of the Storm index fund.

CGI admitted systems were 'inaccurate': submission

30 June 2009 | The client of a Securitor financial planner has detailed his adviser's struggle with Colonial Geared Investments in the second half of last year to provide the appropriate information regarding his investments.

Colonial Geared Investments' systems were flawed: former Storm Financial executive

10 June 2009 | The losses incurred by clients of Storm Financial could be traced back to the faulty systems employed by Colonial Geared Investments, according to a former key executive of Storm Financial. Ron Jelich has told the parliamentary inquiry the software used by CGI to monitor Storm client margin loans could not handle the stresses of the share market volatility in late 2008.

Brokers ahead of planners on margin loans

22 May 2007 | Australian stockbrokers have surpassed financial planners in their ability to embrace gearing strategies, with a new report claiming a large percentage of the broking industry is now advising clients on margin loans.