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Showing 91 - 100 of 398 results for "Big 4 banks"

Grandfathered commissions to be banned

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... ending grandfathered commission payments to financial advisers and from superannuation accounts. Hayne said each of the big banks and other industry participants are in favour of legislation repealing such provisions under the Corporations Act. Of those ...

Productivity Commission report puts banks first: ACTU

HARRISON WORLEY  |  FRIDAY, 11 JAN 2019
... bank-owned funds, simply because they are run to enhance the retirement savings of their members, not the share price of the big banks," the ACTU said. It added the performance of not-for-profit industry funds was a testament to their governance structure ...

Grandfathered commissions: Where to from here?

JAMIE WILLIAMSON  |  WEDNESDAY, 19 DEC 2018
... The Australian Banking Association and many superannuation funds are already calling for a ban, and three of the four big banks have already vowed to phase them out. ABA chief executive Anna Bligh described the removal of such payments as "another important ...

Should banks fund customer litigation?

HARRISON WORLEY  |  TUESDAY, 27 NOV 2018
... Yesterday, NAB chief executive Andrew Thorburn said wealth management had become an unnecessary failure for Australia's big banks, while lamenting the bank's inability to properly finance and integrate its now divested wealth arm - MLC - into its existing ...

Wealth an unnecessary failure: Thorburn

HARRISON WORLEY  |  MONDAY, 26 NOV 2018
NAB chief executive Andrew Thorburn said the venture into wealth management by Australia's big banks was most likely a failure. Opening the final week of hearings into misconduct in financial services today in Melbourne, counsel assisting Michael Hodge ...

Macquarie to front Royal Commission

JAMIE WILLIAMSON  |  MONDAY, 5 NOV 2018
... institutions were scrutinised by the Commissioner and his supporting counsel. Macquarie will now appear alongside the big banks, AMP and the major industry regulators in the final round of the inquiry to discuss the causes of misconduct within financial ...

Fintechs in the money, gain confidence

KARREN VERGARA  |  TUESDAY, 30 OCT 2018
The fintech sector is bullish it can grab market share from big banks and incumbents with the advent of open banking and as the fallout from the Royal Commission plays out, EY's latest fintech census shows. With one-in-five fintechs now turning a profit ...

Chief economist update: Is China starting to slow down?

BENJAMIN ONG  |  TUESDAY, 9 OCT 2018
... liquidity in the domestic economy - in the form of a 100 basis point reduction in the reserve requirement (to 14.5% for big banks and 12.5% for smaller banks) is, indeed, a cause for concern. The move is expected to inject between US$110 billion and ...

Linear pushes MGP into the red

KARREN VERGARA  |  MONDAY, 3 SEP 2018
... fallout from the financial services Royal Commission is expected to result in a continued movement of advisers from the big banks to non-aligned advisory firms. As an independent platform and administration provider, MGP is well positioned to take advantage ...

Robo-advice not dead: GlobalData

HARRISON WORLEY  |  MONDAY, 3 SEP 2018
... stay, it will take time to cement itself. The digitally-savvy next generation will embrace an automated service and big banks should capitalize on this. However, a big brand is not enough to justify much higher fees," Woldemichael said. To succeed, incumbents ...