Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1161 - 1170 of 5859 results for "West"

ASIC launches investigation into Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
More woe for Westpac as ASIC confirms it has commenced an investigation into the bank following AUSTRAC's actions in relation to money laundering. An ASIC spokesperson told Financial Standard : "ASIC can confirm that it commenced an investigation ...

Brian Hartzer steps down from Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
Westpac chief executive Brian Hartzer has stepped down in the wake of AUSTRAC's investigation. Westpac today announced Hartzer will exit, with current chief financial officer Peter King taking over as acting chief executive from December 2. Hartzer ...

Westpac halts short-term bonuses, culls Litepay

HARRISON WORLEY  |  MONDAY, 25 NOV 2019
The under-fire big bank will halt short term incentives for its executive team as it deals with the fallout from its alleged breaches of anti-money laundering and counter terrorism financing laws. Announcing the bank's three-point response plan ...

Grandfathering phase out tussle continues

ELIZABETH MCARTHUR  |  FRIDAY, 22 NOV 2019
Colonial First State has confirmed it is aiming for mid-year implementation of the phase out of grandfathered remuneration, much to the ire of the Association of Independently Owned Financial Professionals (AIOFP). A CFS spokesperson confirmed to Financial ...

Cbus, UniSuper back new housing bond

KANIKA SOOD  |  THURSDAY, 21 NOV 2019
Cbus and UniSuper have invested in a new $315 million bond issue, which the government will use to finance affordable housing in five states. Cbus took up $30 million of the National Finance and Investment Corporation (NHFIC)'s second bond issue of ...

Westpac faces 23 million breaches

ELIZA BAVIN  |  WEDNESDAY, 20 NOV 2019
Westpac is facing 23 million alleged breaches of anti-money laundering laws and counter terrorism laws. AUSTRAC has applied to the Federal Court seeking civil penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money ...

Three advisers cop ASIC bans

KANIKA SOOD  |  WEDNESDAY, 20 NOV 2019
ASIC has banned three financial advisers for up to five years each, in separate banning orders made recently. Wendy Michelle Chapman was banned for five years from providing any financial services. She was most recently employed as a senior planner ...

ASIC eyes claims handling

ELIZABETH MCARTHUR  |  TUESDAY, 19 NOV 2019
Total and permanent disability insurance and the claims handling processes of insurers are well within ASIC's sights. Following the release of an ASIC review into TPD which found significant, industry wide problems with product design and claims handling ...

Chief economist update: How low will Lowe go?

BENJAMIN ONG  |  FRIDAY, 15 NOV 2019
RBA rate cut expectations strengthened after the release of worse-than-expected Australian labour market report. Duh! If financial markets were waiting for the jobs report to raise the odds of another Reserve Bank of Australia (RBA) rate reduction ...

Platform hires former Netwealth distribution head

JAMIE WILLIAMSON  |  THURSDAY, 14 NOV 2019
The former head of distribution for Netwealth has taken on a newly created role with a rival managed accounts and platform provider. Nick Mitchell has been appointed co-head of distribution at Mason Stevens. In the new role, Mitchell will be responsible ...