☕️Just the Tip

Jefferies wealth advisor comes undone thanks to a regulatory tip.

July 11, 2025

Good morning.

A former Jefferies Financial Group wealth adviser in Miami has been permanently banned by the Financial Industry Regulatory Authority (FINRA) from associating with any regulated firm after refusing to provide FINRA with information it had requested.

Bloomberg reports that the watchdog had been probing a “regulatory tip” and the allegations linked to the ousting of Nicholas Coubrough and a clutch of his colleagues after discovering “impermissible money-wire transfers” and “off-channel” and “deleted” communications.

FINRA encourages finance industry workers to submit “regulatory tips” if they believe they have information about potential wrongdoing.

ASX as at market close. Commodities and crypto in USD.

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Market movers

CSL shares slipped just 0.5% on Thursday despite Trump’s tariff bombshell, with Morningstar seeing a 33% “underlying growth” and calling the stock undervalued.

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The quick sync

  • Perpetual warns NFPs diving into private credit to seek specialist advice as opaque markets and limited oversight raise risk of costly missteps. (Capital Brief)

  • TikTok is hunting a new public policy boss in Australia as it faces off with Labor over looming social media age laws. (Capital Brief)

  • InDebted expands offshore with two legacy acquisitions in the US and New Zealand. (Capital Brief)

  • UniSuper chief investment officer John Pearce is the most influential public figure to back the market operator’s push to reconsider dual-class shares. (AFR)

  • JPMorgan’s CEO Jamie Dimon says his friends that are Democrats ‘have big hearts and little brains’ (Bloomberg)

A MESSAGE FROM DEEL

Explore the shifting expectations of Australian workers

Over half of Australian workers used a financial service while waiting for pay. Deel’s new report explores how cost-of-living pressures are reshaping employee needs—and why it’s important for businesses to modernise payroll and support financial wellbeing. 

Trading floor

M&A

  • InDebted expands in US and NZ with two more legacy business acquisitions. (Capital Brief)

  • TPG Telecom may return $2.5b to investors after FIRB clears $5.3b asset sale to Vocus. (AFR)

  • ROC Partners eyes potential bid for NZ produce firm T&G Global. (AFR)

  • Blackstone-Pepper Money talks collapsed over KKR’s $1.85bn price tag. (The Australian)

  • Ferrero to buy WK Kellogg for US$3.1b, expanding into cereal amid health-driven market shifts. (Capital Brief)

  • ADNOC may drop $36.4b Santos bid over Chalmers’ political risk, Macquarie warns. (AFR)

  • ACCC approves Lactalis’ bid for Fonterra’s consumer assets, clearing a key hurdle in the proposed sale. (Capital Brief)

  • ACCC approves 5-year info-sharing deal for ASFI to boost sustainable finance, with safeguards against anti-competitive risks. (Capital Brief)

  • Harvest Lane bets Cosette must complete $672m Mayne Pharma deal. (AFR)

  • Are Media, publisher of Women’s Weekly, up for sale as Mercury Capital seeks exit. (AFR)

Capital Markets

  • Netwealth’s FY25 funds under administration rose 28% to $112.8b on record inflows. (Capital Brief)

  • CBA, Westpac, and ANZ join RBA blockchain trials for digital payments and settlements. (AFR)

  • Lendlease risks losing key property fund clients despite fee cuts, as super funds eye Mirvac as a new manager. (The Australian)

  • Vulcan Energy raised $54m led by BNP Paribas to support its German lithium project and upcoming construction milestones. (Capital Brief)

  • FlixBus to launch in Australia, taking on airlines and coach rivals. (AFR)

  • Platinum shares rise as UBS, Morningstar cite earnings boost from L1 Capital merger. (Capital Brief)

VC

  • The Australian government is granting nearly $100m to three medtech incubators — Brandon BioCatalyst, Biointelect, and ANDHealth — to help healthcare startups bring products to market. (Smart Company)

  • Edtech Alumly raises $1m+ angel round to boost AI-powered job tools for uni students. (Startup Daily)

People moves

  • TPG Capital ousts InvoCare CEO Eron Plumb amid turnaround efforts. (AFR)

  • TikTok seeks new Australian policy chief ahead of Labor’s looming social media ban. (Capital Brief)

  • Macquarie won't say if ex-KPMG partner on its board stepped back from decisions on its $75m audit contract. (AFR)

  • Red Bull sacks F1 boss Christian Horner after 20 years, no reason given. (AFR)

  • Trump appoints controversial ex-Young Liberal and MAGA cheerleader Nick Adams as US ambassador to Malaysia (Capital Brief)

  • A senior Commonwealth Bank executive faces court in Brisbane after being charged with serious child offences. (7News)

☝️ Know about a deal or people move we don’t? Hit reply.

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