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Showing 101 - 110 of 5719 results for "Banks"

Credit Suisse fined $575m by regulators

CASSANDRA BALDINI  |  TUESDAY, 25 JUL 2023
... Suisse manager. In 2021 Archegos, formerly run by Billy Hwang, defaulted on margin calls from multiple global investment banks, including Credit Suisse. At the time, the bank cut several senior staff members following the hit, including former investment ...

Wealth management ecosystem at critical inflection point: Citi

ANDREW MCKEAN  |  THURSDAY, 20 JUL 2023
... emergence of "new wealth" and a backdrop of an unpredictable global market have also compelled wealth managers and private banks to address the fundamental challenge of maintaining their client relationships, the report added. "In order to effectively ...

Further tightening of monetary policy may be required: RBA

CASSANDRA BALDINI  |  TUESDAY, 18 JUL 2023
... wages under such levels of labour market tightness," the RBA said. Persistent inflation in advanced economies and central banks "unexpected or larger than expected" monetary tightening over the preceding month was also a key consideration. "The policy ...

APRA finalises operational risk prudential standard

ANDREW MCKEAN  |  TUESDAY, 18 JUL 2023
APRA has finalised Prudential Standard CPS 230 Operational Risk Management, which aims to enhance the ability of banks, insurers, and superannuation trustees to manage operational risks and respond to business disruptions. According to QMV legal, the ...

Ownership changes spur upheaval in unit trust sector

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... managers with the largest negative net flows were spun out of the large wealth managers owned by Australia's largest banks and then divested in the wake of the scandals exposed by the Royal Commission, Rainmaker said. As an example, AMP Capital's ...

Platforms FUM falls $20bn: Report

CHLOE WALKER  |  WEDNESDAY, 12 JUL 2023
... were Macquarie Group (3.8%), Mercer (4.8%) and Praemium (4.9%). Plan For Life noted that these results came despite central banks ending an unprecedented era of ultra-low interest rates and moves to normalise monetary policies to get a handle on infl ...

Federal Reserve plans upping capital requirements

CASSANDRA BALDINI  |  TUESDAY, 11 JUL 2023
The US Federal Reserve has proposed a regulatory overhaul in which the nation's largest banks would be forced to hold more capital in hopes future meltdowns in the sector can be prevented. Federal vice chair for supervision Michael Barr outlined ...

Adviser demand up as industry turns corner: Recruiter

KARREN VERGARA  |  FRIDAY, 7 JUL 2023
... is in mid-level client service roles with limited or no supply in many regions. "The flow-on effect of the group exits of banks and institutions switched off graduate entry supply channels and that has started to bite. We see outsourcing not only becoming ...

Asset managers dismiss liquidity risks: FCA

KARREN VERGARA  |  FRIDAY, 7 JUL 2023
... institutions to offer consumers fair and competitive saving rates. The FCA said that it has seen "some positive action by banks and building societies to improve their rates, and to ensure their customers are benefiting from better value products". "We ...

Institutions must raise the bar on cybersecurity resilience: APRA

CASSANDRA BALDINI  |  THURSDAY, 6 JUL 2023
... obligations is leaving hundreds of institutions open to financial crime. The regulator plans to have assessed more than 300 banks, insurers and super trustees' compliance with CPS 234 Information Security by the end of the year. It has so far assessed ...