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Showing 991 - 1000 of 1826 results for "APRA."

Australian Ethical divests IOOF

KARREN VERGARA  |  FRIDAY, 18 JAN 2019
Australian Ethical is in the process of divesting its $8.8 million stake in IOOF. Australian Ethical head of ethics research Stuart Palmer said the decision was driven by IOOF's failure to put governance and conflicts management arrangements into ...

Xinja funds platform for growth

OSKAH DUNNIN  |  WEDNESDAY, 16 JAN 2019
Neobank Xinja has successfully funded its second campaign on the Equitise crowdfunding platform, raising more than $500,000 in nine hours. Equitise co-founder Jonny Wilkinson believes the neobank market is set to disrupt the established banking industry ...

ANZ, IOOF revise wealth sale agreement

JAMIE WILLIAMSON  |  TUESDAY, 15 JAN 2019
The sale of ANZ's pensions and investments business may take longer than anticipated with contracts now amended following APRA's regulatory action against IOOF. Providing a further update on the sale, ANZ said it has agreed an amendment with ...

PC calls for group insurance review

KARREN VERGARA  |  FRIDAY, 11 JAN 2019
The Productivity Commission is calling for an independent public inquiry into group insurance and floated the possibility of tougher regulation that includes sharper ASIC oversight, among other recommendations. Recommendation 18 in the Productivity ...

APRA, ASIC welcome Productivity Commission's superannuation report

HARRISON WORLEY  |  FRIDAY, 11 JAN 2019
The regulators overseeing financial services in Australia have welcomed the Productivity Commission's recommendations to grant them additional powers. After they were blasted in the Productivity Commission's final report into the efficiency and competitiveness ...

The problem the Productivity Commission is trying to fix

ALEX DUNNIN  |  THURSDAY, 10 JAN 2019
Australia's superannuation sector in trying to digest the Productivity Commission's 700-page report with its 31 recommendations need to keep in mind the massive structural problems it is trying to fix. The fundamental problem that has perplexed ...

Regulators in Productivity Commission firing line

HARRISON WORLEY  |  THURSDAY, 10 JAN 2019
ASIC and APRA both scored scathing assessments in the Productivity Commission's superannuation report. The regulators sharing responsibility for the oversight of Australia's finance system copped a grilling in the Commission's final report ...

Productivity Commission shakes up default superannuation

KARREN VERGARA  |  THURSDAY, 10 JAN 2019
The Productivity Commission reinforced several recommendations flagged in mid-2018 in a bid to modernise the $2.7 trillion industry, which included shaking up the default sector. The Commission handed down 31 recommendations in its final report in assessing ...

IOOF appoints independent reviewer

DARREN SNYDER  |  TUESDAY, 1 JAN 2019
APRA's licence conditions imposed on IOOF require the wealth manager to begin 2019 with the appointment of an independent reviewer who will report to the regulator quarterly. The independent reviewer's role will be to report on IOOF's progress ...

APRA lifts interest-only restrictions

HARRISON WORLEY  |  FRIDAY, 21 DEC 2018
Australia's banks can now move back into interest-only lending, and their peak industry body says competition will increase as a result. This week APRA announced it would remove the 30% benchmark for new interest-only residential mortgages, which it ...