Broker sacked, others brace for a shake-up
Christopher Martin, the stockbroker at the centre of this week's Hartley Poynton scandal, was sacked yesterday by his employer, Melbourne-based Intersuisse. The company's MD, Andrew Martin, declined to comment although he had said on Wednesday that he had no problem with Mr Martin staying at Intersuisse despite the adverse judgment against him.
Hartley Poynton also declined to comment yesterday. Westpac, which has a 25 per cent stake in the company, also refused to comment, with a spokesman saying it was a “minority shareholder” and therefore had no say in the day-to-day operations of the broker.
The investment community is bracing for a massive shake-up following Justice Tim Smith's judgment that Hartleys pay $1.03 million to former client Rahmat Ali to compensate for Mr Martin's “reckless” trading actions.