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Showing 31 - 40 of 457 results for "Australian Bank"

BOQ acquires ME Bank

ELIZABETH MCARTHUR  |  MONDAY, 22 FEB 2021
Bank of Queensland has acquired industry super-owned ME Bank for $1.325 billion. The move sees BOQ acquire 100% of ME Bank for $1.325 billion cash, funded by an underwritten capital raising of $1.35 billion. The price represents 1.15 times ME's ...

Reference checks should cover all advice: FPA

KARREN VERGARA  |  MONDAY, 1 FEB 2021
Reference checks should be extended to general advice and to anyone that has the ability to influence the financial advice process, according to the Financial Planning Association of Australia. In its submission to ASIC for Consultation Paper 333 Implementing ...

Xinja returns deposits

ANNABELLE DICKSON  |  WEDNESDAY, 20 JAN 2021
The neobank has become the first Australian bank to return its customer deposits after it withdrew its banking products and announced the return of its authorised deposit-taking institution (ADI) licence. The Australian Prudential Regulation Authority ...

Australian banks among most fined

ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
... investigation found the bank had breached anti-money laundering and counter-terrorism financing law. The other two Australian bank fines in 2020 both went to National Australia Bank. One was $57.5 million in the fees for no service scandal and the second ...

NAB names RBS alumnus as chief operating officer

ANNABELLE DICKSON  |  WEDNESDAY, 2 DEC 2020
National Australia Bank has appointed its chief executive's former colleague as chief operating officer. Les Matheson will return to Australia after spending six years as chief executive, personal and business banking (UK and Ireland) at Royal Bank ...

Australian Sustainable Finance Initiative launches

RACHEL ALEMBAKIS  |  TUESDAY, 24 NOV 2020
A coalition of more than 80 organisations including banks, insurers, superannuation funds and other stakeholders has released an ambitious list of recommendations to transform Australia's financial system to sustainable outcomes. The Australian Sustainable ...

ANZ sees profits plummet, plans to exit thermal coal

ANNABELLE DICKSON  |  THURSDAY, 29 OCT 2020
... in place, will expected strategies by 2025. Climate group Market Forces said the updated policy means no major Australian bank or insurer, apart from NAB, is willing to back thermal coal beyond 2030. But Market Forces research coordinator Jack Bertolus ...

Super industry cautious on more reform

ELIZABETH MCARTHUR  |  TUESDAY, 6 OCT 2020
The financial services industry and business community in Australia has responded in a generally positive manner to the government's 2020-2021 budget, but the super sector is so far cautious in its response. Australian Institute of Superannuation Trustees ...

Responsible lending laws to be revoked

ANNABELLE DICKSON  |  FRIDAY, 25 SEP 2020
The government has announced a raft of reforms to reduce barriers to Australia's credit framework as a means to boost the economy. The reforms will remove the responsible lending obligations from the National Consumer Credit Protection Act 2009 aiming ...

Westpac scraps SG direct debits

KARREN VERGARA, JAMIE WILLIAMSON  |  MONDAY, 21 SEP 2020
As Westpac pulls the plug on QuickSuper, a direct debit superannuation payment option for employers, there are fears the lack of automation could potentially worsen the unpaid super problem. On September 4, employers paying superannuation guarantee ...