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Showing 1121 - 1130 of 6488 results for "Fed"

Bernie Madoff dies in prison

ELIZABETH MCARTHUR  |  THURSDAY, 15 APR 2021
The architect of the largest Ponzi scheme in US history has died in prison aged 82. Bernie Madoff had been serving his sentence at FMC Butner, an administrative security federal medical centre for male offenders located in North Carolina, at the time ...

ASIC extends advice relief measure

KARREN VERGARA  |  THURSDAY, 15 APR 2021
ASIC is extending the relief measure that allows financial advisers to provide a Record of Advice (ROA) rather than a statement of advice (SOA) until October 15. The decision to extend the relief measure came after consulting with the industry, the ...

NAB MySuper class action heads to Federal Court

JAMIE WILLIAMSON  |  MONDAY, 12 APR 2021
Maurice Blackburn's class action against MLC Nominees and NULIS Nominees has moved to the Federal Court, following a decision late last year. The class action brought by Maurice Blackburn against MLC Nominees and NULIS in January 2020 on behalf ...

Cairns women disadvantaged by super gender gap

KARREN VERGARA  |  MONDAY, 12 APR 2021
Industry Super Australia's modelling found that women from Cairns will retire with almost $40,000 less superannuation than men. These stark figures highlight the need to lift the super rate as legislated from 9.5% to 12%, ISA said. "Women on middle ...

Chief economist update: No fear

BENJAMIN ONG  |  MONDAY, 12 APR 2021
... the recent back up in bond yields due to rising inflation expectations. This is because most major central banks, led by the Fed, deem near-term inflationary pressures only transitory while at the same time emphasising their commitment towards providing ...

Commonwealth seeks to stop bond class action

ELIZABETH MCARTHUR  |  FRIDAY, 9 APR 2021
Orders have been made in a case brought against the Commonwealth by a 23-year-old student over climate change risk as it relates to government bonds, as the government attempts to stop the class action. Katta O'Donnell is seeking to hold the Australian ...

AustralianSuper subverts stapling logic

KARREN VERGARA  |  FRIDAY, 9 APR 2021
Australia's largest superannuation fund is taking issue with the proposed stapling regulations, arguing that the model is backwards and will not protect members from being stuck in dud funds. AustralianSuper chief executive Ian Silk shot down media ...

Chief economist update: Europa rides the bull once again

BENJAMIN ONG  |  FRIDAY, 9 APR 2021
... Grexit but as the ECB's balance sheet shows, Madam Lagarde has supersized this. Just as we were advice not to fight the Fed, I wouldn't be standing in the way of the ECB either and... that's no myth.

Junk insurance lands Westpac in court

KARREN VERGARA  |  THURSDAY, 8 APR 2021
ASIC is taking Westpac to the Federal Court, alleging it sold junk credit insurance to 384 customers that did not want it and whose accounts were unlawfully debited to pay for the premiums. The corporate regulator has exposed dodgy sales of add-on insurance ...

CBA to pay $7m for overcharged interest

ANNABELLE DICKSON  |  THURSDAY, 8 APR 2021
The Federal Court has imposed a $7 million penalty on Commonwealth Bank for charging higher interest rates on business overdraft accounts than what it advised its customers over a four-year period. Following an investigation by ASIC, CBA admitted to ...