Daily Dispatches: another Storm warning

The corporate watchdog is investigating whether failed financial planner Storm Financial was acting illegally from the moment it started raising its $4.5bn in investments under management. Businessday has seen an Australian Securities and Investments Commission document showing it is investigating Storm Financial on suspicion of operating an unregistered managed investment scheme. (Business Day)

NAB kicks off the big bank annual profit reporting season on Wednesday, as margin expansion and an improving bad-debt outlook lift the gloom that has hovered over the sector since late 2007. However, the consensus is that share prices already reflect the more optimistic outlook, given the sector's strong recent rally. (The Australian)

Only months after the financial crisis, Australian banks say the banking regulator is taking too hard a line in proposed measures to improve confidence. Some of Australia's biggest banks have begun an intensive, behind-the-scenes campaign, arguing against an idea from the regulator that all banks have available cash on hand to fund 30 days of operations. (The Age)

For one property developer, Suncorp treated him like "s--- at the end and like a prostitute at the beginning". The better times were several years ago, when banks took it upon themselves to chase clients. (Courier Mail)