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| | ... consumer discretionary stocks also proved popular. The top 10 domestic equity investments for SMSFs comprised the big four banks, Telstra, BHP Billiton, Wesfarmers, CSL, Woolworths and Woodside Petroleum. Separately, new data released by the Australian ... |
| | | ... compensation bill for charging ongoing advice fees, but failed to provide actual general or personal advice. AMP and the big four banks collectively refunded $215.9 million to customers; NAB is due to pay a further $1.3 million. |
| | | AMP and the big four banks refunded customers $215.9 million for charging ongoing advice fees that failed to provide actual general or personal advice. ASIC said this was in addition to the fees-for-no-service compensation figures identified in Report ... |
| | | ... one-third the market, is driving 80% of the growth, the report said. The largest advice groups, which comprises the big four banks, AMP and IOOF, have a combined total 9317 advisers. |
| | | ... "It is disappointing that the Government is seeking to deflect from the real and systemic problems plaguing the big four banks, by including the superannuation system in this inquiry." She added there is no evidence of gouging, fraud or unethical behaviour ... |
| | | ... that our financial system is resilient, efficient and fair," they said. The chief executives and chairs of the big four banks said the Royal Commission is "unwarranted." "They are costly and unnecessary distractions at a time when the finance sector ... |
| | | Outgoing ASIC chair Greg Medcraft believes the big four banks will continue to sell wealth management arms because it's tough to restore the consumer trust repeatedly tarnished by these businesses. Speaking at a Sydney Financial Forum event yesterday ... |
| | | ... SMSF investors are still showing a strong preference for Australia's blue-chip stocks, with Telstra, BHP and the big four banks accounting for almost 70% of the total value traded by active SMSF investors in the first half of the year. However, SMSFs ... |
| | | ... banks derive a substantial amount of profit from real estate debt and 60% of Australian direct shares are in the big four banks. "That's not well-diversified," he said. Ultimately, though, he argued that "a mix of equities and some cash presents less ... |
| | | APRA has raised the CET1 capital ratios for the big four banks to meet the "unquestionably strong" benchmark outlined in the Financial System Inquiry. By 1 January 2020, the big four will need to achieve a CET1 capital ratio of at least 10.5%. APRA ... |
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