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Showing 1011 - 1020 of 6488 results for "Fed"

FSC suggests CSLR improvements

KARREN VERGARA  |  MONDAY, 20 SEP 2021
The Financial Services Council has highlighted numerous holes in the Compensation Scheme of Last Resort in a bid to prevent financial advisers that "have done nothing wrong" from paying for the scheme. The FSC is calling on corporate regulator ASIC ...

Criminal charges filed against CBA

ELIZABETH MCARTHUR  |  FRIDAY, 17 SEP 2021
ASIC has brought 30 criminal charges against Commonwealth Bank for mis-selling consumer credit insurance, with the bank to plead guilty. The charges relate to CBA's promotion and sale of CreditCard Plus and Loan Protection policies as an add-on insurance ...

ME Bank faces criminal charges

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 SEP 2021
ME Bank has appeared in Federal Court, facing criminal charges for allegedly making false and misleading representations in letters to its home loan customers. It is also alleged that the bank failed to provide written notice about annual interest rate ...

ATO will not pursue erroneous JobKeeper payments

KARREN VERGARA  |  MONDAY, 13 SEP 2021
The Australian Tax Office announced it will not pursue businesses that took advantage of JobKeeper despite raking in large profits, nor will it ask small businesses to repay $180 million claimed in error. The ATO revealed that over one million businesses ...

Economic recap: Week to September 10

BENJAMIN ONG  |  MONDAY, 13 SEP 2021
The Reserve Bank of Australia (RBA) is concerned but not alarmed at the growing cases of Delta variant infections that's wreaking havoc on the lives and livelihood in Australia's two biggest states - New South Wales (NSW) and Victoria (VIC). ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
The Federal Court has found Colonial First State misled members of its FirstChoice Fund on at least 12,978 occasions over nearly two years in relation to switching to its MySuper product. The court found CFS's communication (via letters and calls) ...

Morningstar business development lead to exit

JAMIE WILLIAMSON  |  WEDNESDAY, 8 SEP 2021
Morningstar is recruiting for a new head of business development for Australia and New Zealand as the incumbent readies to return to the United States. Phil Winter is remaining with Morningstar but leaving the local business; returning to Chicago at ...

Family law super reform passes

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
The government has passed legislation intended to prevent individuals from hiding superannuation assets in family law proceedings. Treasury Laws Amendment (2021 Measure No. 6) Bill 2021 (Schedule 5) allows the ATO to share information when an individual ...

Occupational exclusions under scrutiny

KARREN VERGARA  |  FRIDAY, 3 SEP 2021
Occupational exclusions in group insurance are under the microscope as the federal government reviews their fairness and appropriateness. Senator Jane Hume has opened consultations for the review until October 14, aiming to find solutions to problems ...

NAB partners with life insurance, advice provider

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
The big four bank announced its partnership with Australia's largest medical defence organisation to extend its business finance solutions to doctors and healthcare professionals. NAB's Medfin Finance team signed a 10-year strategic partnership agreement ...