For many years Wellington Capital used the label merchant bank...

For many years Wellington Capital used the label merchant bank but I note that reference is removed now from WC website in response from ASIC tightning up on businesses referring to the word bank to decribe their services.

I always wondered how WC and others got away with the word "bank" to describe services as Kebbel who promoted themselves as an Investment Bank got into all sort of trouble relating to Westpoint.

WC I am sure used the word Merchant Bank. Still implied to me something that they were not which is a bank with the APRA capital requirements etc

The SMH reporter not up to date on law obviously as calling JH a colourful investment banker only got one word right !