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Junk insurance lands Westpac in courtBY KARREN VERGARA | THURSDAY, 8 APR 2021 12:19PM
ASIC is taking Westpac to the Federal Court, alleging it sold junk credit insurance to 384 customers that did not want it and whose accounts were unlawfully debited to pay for the premiums.Read more: ASIC, CCI, Westpac, Bank of Queensland, Bendigo, Citigroup, Commonwealth Bank, Karen Chester, Latitude Finance Australia, NAB
Lifecycle MySuper was a better bet than single strategy default funds for members below 40 years of age in FY21 as the equity markets rebounded after COVID, according to Rainmaker Information.
The advice group has appointed a head in Queensland, reporting to chief executive Terry Dillon.
Australia's exchange traded product market reached $115 billion at the end of June 2021, increasing 76% in 12 months - but according to Rainmaker research, only a small portion of that growth came from performance.
The chair of Clime Investment Management and one of its shareholders are calling for the removal of long-serving executive Neil Schafer.
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