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Showing 1041 - 1050 of 1727 results for "Provisio"

Instos offer advice at a loss to drive product sales: EY

LAURA MILLAN  |  TUESDAY, 9 SEP 2014
Large financial institutions have undervalued advice for decades by offering it at a loss to lead clients into product sales, Ernst & Young (EY) have said in their submission to the Financial System Inquiry (FSI). EY argued that decades old industry ...

FOS demands licensee-funded consumer protection scheme

LAURA MILLAN  |  MONDAY, 8 SEP 2014
All relevant entities licensed to distribute financial products should fund a default consumer protection scheme to ensure consumers are paid when awarded compensation, the Financial Ombudsman Service (FOS) asked in its submission to the Financial System ...

Bipartisan Senate inquiry to grill financial services again

LAURA MILLAN  |  FRIDAY, 5 SEP 2014
Labor Senator Sam Dastyari has obtained the support from the Coalition to conduct a new Senate Economics Committee inquiry to scrutinise the financial services industry. The inquiry will continue the task of last year's Senate Economics Committee inquiry ...

Insurance through super saves $403 million

STAFF WRITER  |  FRIDAY, 29 AUG 2014
Insurance provided to people through their superannuation reduces the annual cost to government of social security by about $403 million, according to new research commissioned by the Association of Superannuation Funds of Australia (ASFA). These savings ...

SPAA rejects compulsory annuitisation

LAURA MILLAN  |  THURSDAY, 28 AUG 2014
The SMSF Professionals' Association of Australia (SPAA) has spoken against the introduction of compulsory annuitisation in Australia in its submission to the Financial System Inquiry (FSI) "SPAA does not support policy incentives that encourage retirees ...

Advisers to study for 200 hours under TASA

LAURA MILLAN  |  WEDNESDAY, 20 AUG 2014
Planners registered as tax financial advisers with the Tax Practitioners Board (TPB) will have to undertake at least 200 hours of study covering Australian taxation and commercial law. Advisers who are members or are seeking membership of a professional ...

Greens slam CBA executives pay rise

LAURA MILLAN  |  TUESDAY, 19 AUG 2014
Top Commonwealth Bank (CBA) executives should have frozen their salaries or even taken a pay cut while the compensation process for thousands of victims of poor financial advice remains ongoing, Greens Senator Peter Wish-Wilson said. "It is not a good ...

Ditch retail prospectuses in some cases, say leading lawyers

ALEX DUNNIN  |  TUESDAY, 19 AUG 2014
Australia should consider dumping retail investment product providers obligations to issue prospectuses as the quid pro-quo for continuous disclosure, a panel of leading finance industry lawyers has said. The proposal surfaced following the release ...

NAB quarterly profit up 7%

LAURA MILLAN  |  TUESDAY, 19 AUG 2014
National Australia Bank (NAB) has lifted its cash profit 7% to $1.6 billion during the June quarter. The cash profit is up from $1.5 billion for the same period last year, while net profit -which includes one-off items- was of $1.7 billion, unchanged ...

CBA posts record profit, strong wealth management growth

LAURA MILLAN  |  WEDNESDAY, 13 AUG 2014
Commonwealth Bank (CBA) has reported an $8.6 billion net profit after tax for the year ended June 30, 2014, up 12% from last year. The group registered strong growth in its wealth management division, with average funds under administration (excluding) ...