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US regulator settles with AresBY KANIKA SOOD | WEDNESDAY, 27 MAY 2020 12:39PM
Ares Management LLC, which has a joint venture with Challenger's Fidante Partners in Australia via a related company, has paid US$1 million to settle charges alleging it traded in a portfolio company based on non-public information while an employee sat on its board.
Read more: Ares Management LLC, Ares Management Corporation, Challenger, Fidante Partners
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Pendal Group has made year-long fee cuts on two funds, as it sees the Reserve Bank of Australia holding the cash rate at the record-low of 0.25%.
Standard & Poor's has downgraded AMP Limited's credit rating from BBB+ to BBB, with all AMP Group entities on CreditWatch with negative implications.
ME Bank chief executive Jamie McPhee has resigned after weathering scrutiny over the bank's adjusting of redraw facilities for mortgage customers and its relationship with the industry funds that own it.
At a time when many Australians are engaging directly with their superannuation fund for the first time, member satisfaction appears mixed, with two separate surveys producing some opposing views.
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