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Showing 10551 - 10560 of 28277 results for "NOT"

MLC refunds $67m in advice fees

KARREN VERGARA  |  FRIDAY, 27 JUL 2018
MLC will cease deducting general financial advice fees from its MasterKey Personal Super products after admitting it did not clearly communicate to members they could opt out of the service. About 305,000 MasterKey Personal Super (MKPS) members will ...

Chief economist update: ECB on track for exit

BENJAMIN ONG  |  FRIDAY, 27 JUL 2018
Nobody expected action from the European Central Bank's (ECB) July 26 meeting. The Bank did not disappoint. It kept its benchmark repo rate at 0% - so were the rates on its deposit facility (-0.4%) and marginal lending facility (0.25%) - and repeated ...

Industry bodies respond to RG97 review

KARREN VERGARA  |  THURSDAY, 26 JUL 2018
... appointed by ASIC to spearhead the independent review, urged the industry to consider the 34 recommendations as a package and not cherry pick individual sections. The report proposes a framework for ASIC to consider the issues rather than make specific ...

Aussie instos buy ex-US value story

DARREN SNYDER  |  THURSDAY, 26 JUL 2018
... start of 2017, has underperformed the competing growth index by 25%. The MSCI World Value Index has also underperformed but not by the same magnitude. "A large part of the underperformance is because US growth has been so strong and a large part of the ...

AFCA funding lacks transparency: AIST

KARREN VERGARA  |  THURSDAY, 26 JUL 2018
... executive Eva Scheerlinck said there was a "moral and legal obligation" on super funds to ensure that members' savings were not used to fund the resolution of complaints in other areas of the finance sector. "It would be unacceptable, inequitable ...

Grandfathered commission debate an overreaction: AFA

JAMIE WILLIAMSON  |  THURSDAY, 26 JUL 2018
... AFA head of policy Phil Anderson said ASIC's argument about the prevalence of grandfathered commissions is misguided and not based on facts. Polling delegates as to how much grandfathered commissions contribute to their practice income, about 80% ...

Banks take 1500 days to identify breaches: ASIC

KANIKA SOOD  |  THURSDAY, 26 JUL 2018
... cannot only be reported to us more quickly, but so that can be resolved more quickly," he said. "In my observation, there has not been enough investment in these systems and processes to date. With the result that it takes far too long for management ...

Chief economist update: Inflation genie still inside the box

BENJAMIN ONG  |  THURSDAY, 26 JUL 2018
... in automotive fuel (+16.2% yoy); electricity (+10.4%) and alcohol and tobacco (7.8%). If the headline inflation measure is not disappointing enough the underlying measures indicate the flat or slowing price rises. The trimmed mean inflation gauge remained ...

Nicholas Moore to retire from Macquarie Group

HARRISON WORLEY  |  THURSDAY, 26 JUL 2018
... month. Wikramanayake also confirmed a final decision on who replaces her as the head of Macquarie's asset management arm would not be made until later in the year. "I think there's no urgency to move. Nicholas has very generously agreed to be around ...

Best in show should not dampen competition: Bowen

KANIKA SOOD  |  WEDNESDAY, 25 JUL 2018
... dampen competition. Speaking at the FSC Summit in Melbourne on Wednesday, Bowen said any model that dampens competition would not be in members' interests "And then we also need think about how someone defaulted into a "best in show" fund today may not ...