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Showing 91 - 100 of 625 results for "Financial Sector"

Banks lose US$635 billion

ELIZA BAVIN  |  TUESDAY, 15 SEP 2020
... markets. The crisis generated massive instability and high volatility in global capital markets," it said. "The financial sector was among the most impacted leading to the drop in market capitalisation." Many Chinese institutions made the list including ...

FSU secures super pay increases

ELIZA BAVIN  |  FRIDAY, 10 JUL 2020
The Financial Sector Union (FSU) has confirmed employees at a number of super funds will receive pay increases in a deal that followed 12 months of negotiation. The FSU said it was pleased to have reached decisions with a number of super funds including ...

ASIC lays out product intervention plans

HARRISON WORLEY  |  THURSDAY, 18 JUN 2020
... significant consumer detriment," Chester noted. "The power enables us to confront, and respond to, harms in the financial sector in a targeted and timely way. "But there are important checks and balances - it is a temporary intervention power and we ...

ASIC quietly granted new access to phone taps

ELIZABETH MCARTHUR  |  THURSDAY, 11 JUN 2020
... could not share that evidence with ASIC. The new powers were again recommended during the Royal Commission. The Financial Sector Reform (Hayne Royal Commission Response - Stronger Regulators (2019 measures)) Bill 2020 explanatory memorandum outlined ...

Industry flocks to JobKeeper handouts

KANIKA SOOD  |  THURSDAY, 21 MAY 2020
... Australia, 131 in Tasmania, 140 in ACT and 44 in Northern Territory. While the total of 13,493 applications from the financial sector sounds high, it was only 1.85% of the total JobKeeper enrolments received by the Australian Taxation Office as at May ...

Law firm bolsters financial services team

ELIZA BAVIN  |  FRIDAY, 15 MAY 2020
... Smith Freehills and to have the opportunity to work alongside esteemed lawyers locally and internationally. "Financial sector firms are facing significant regulatory change, more aggressive regulators using more dynamic supervision, consolidation, competition ...

Local financial sector to lose $3.5bn plus

KANIKA SOOD  |  THURSDAY, 30 APR 2020
COVID-19 will shave off more than $3.5 billion from the banking and finance industry in lost wages and profits in the four months to July, according to Deloitte Access Economics. Deloitte Access Economics Partners partner Chris Richardson estimates ...

Adviser bans fall

ELIZA BAVIN  |  THURSDAY, 30 APR 2020
... enforcement strategy and priorities for 2019-21 and increase its capacity to investigate market, corporate and financial sector misconduct. The regulator said it has also focused on using its additional resources to take on more enforcement work and ...

Open banking to charge on

ELIZA BAVIN  |  TUESDAY, 7 APR 2020
... assembled from different sources in ways not imaginable before. "Post this crisis we will get the competition our financial sector needs." Sims said the ACCC has had extensive discussions with banks and other stakeholders about the impacts of COVID-19 ...

US faces deepest recession on record

ALLY SELBY  |  FRIDAY, 3 APR 2020
The US is facing a COVID-19 triggered recession that will be the worst on record, according to Bank of America economists. It comes as about 6.65 million people filed for unemployment in the US this week, in the highest level of claims received by the ...