Search ResultsShowing 1 - 10 of 100+ results for "ACT"
IOOF establishes super trustee office
HARRISON WORLEY  |  WEDNESDAY, 21 AUG 2019
... newly vested powers and directed IOOF to implement and maintain the OST or risk facing a financial penalty under the SIS Act. Recently appointed IOOF chief executive Renato Mota said the wealth manager had been working "diligently" to implement ...
Frydenberg flags new advice disciplinary system
HARRISON WORLEY  |  MONDAY, 19 AUG 2019
... in the financial system. To that end, the government plans to hold sections of the industry accountable for failing to act in line with the cultural, governance and remuneration changes sweeping the industry. For financial advisers, that means ...
Japanese insurer gets Treasury tick to up Challenger stake
KANIKA SOOD  |  MONDAY, 19 AUG 2019
... given that its direct control interest in the company does not exceed 20% per the Financial Sectors (Shareholding) Act 1998, according to an August 14 notice signed by the Federal Treasurer Josh Frydenberg. In its annual results announced ...
Super sector needs to end culture war
KRISTI CHENG  |  FRIDAY, 16 AUG 2019
... of all listed Australian companies by 2034. Bragg said this places a huge burden on a sector that has often struggled to act maturely. He ended his reflections with what he calls the "increasing level of inappropriate activism" by union or fund ...
ASIC bans adviser again
HARRISON WORLEY  |  FRIDAY, 16 AUG 2019
... Aujla has been banned from providing financial services for three years by the corporate regulator for failing to act in the best interests of his clients. According to ASIC, a review of advice Aujla provided as an authorised representative ...
Court dismisses Westpac lending practice case
KARREN VERGARA  |  THURSDAY, 15 AUG 2019
... a lender "may do what it wants in the assessment process" and other provisions of the National Consumer Credit Protection Act 2009 impose penalties if lenders make unsuitable loans as a result of that process. Under the Act, lenders must assess ...
Chief economist update: Greater than the Great Recession of 2008
BENJAMIN ONG  |  THURSDAY, 15 AUG 2019
... by imposing increased tariffs on US imports. History shows that this is a lose-lose proposition. The Smoot-Hawley Tariff Act - enacted on 17 June 1930 (the time of the Great Depression) - increased the tariffs on US imports from 25.9% to 50%. What ...
Clime Capital settles class action
KARREN VERGARA  |  MONDAY, 12 AUG 2019
... Further, it claimed UGL engaged in misleading and/or deceptive conduct, and breached its obligations of the Corporations Act 2001 and the ASX Listing Rules. Consequently, investors that purchased UGL shares within the claim period have suffered ...
Super trustees to formulate whistleblower policies
KARREN VERGARA  |  MONDAY, 12 AUG 2019
... within companies, deter wrongdoing within companies and foster an ethical culture. The Whistleblower Protections Act was passed by Parliament on 19 February 2019. It received royal assent on 12 March 2019. The reforms commenced on 1 July ...
Rest to restructure investments, hire CIO
HARRISON WORLEY  |  FRIDAY, 9 AUG 2019
... strategy set by the fund's board and board investment committee. SIM chief investment officer George Zielinski will act as interim chief investment officer of the fund in the meantime. He will oversee new head of SIM, Simon Esposito and Rest ...
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