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Showing 1221 - 1230 of 7376 results for "Consumer"

Retirement Income Covenant hits parliament

KARREN VERGARA  |  FRIDAY, 26 NOV 2021
The Retirement Income Covenant's introduction to parliament yesterday has been welcomed by major industry bodies. The Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021 currently sits before the house, containing the ...

ACCC not opposed to NAB, Citi deal

CHLOE WALKER  |  THURSDAY, 25 NOV 2021
The ACCC will not oppose the acquisition of Citigroup's Australian consumer business (Citi) by NAB after a review found the transaction would not substantially lessen competition. The review focused on competition in the supply of credit cards, as Citi ...

Adviser jailed for illegal super access

KARREN VERGARA  |  WEDNESDAY, 24 NOV 2021
A former financial adviser was sentenced to jail for facilitating the illegal early access of clients' superannuation to the tune of $1.5 million. Victoria-based Ahmed Saad operated Saad Wealth Management between 10 April 2012 until 16 October 2017 ...

APRA hones in on post-retirement products

KARREN VERGARA  |  TUESDAY, 23 NOV 2021
... increased supervisory powers in superannuation at the event, ASIC chair John Longo spoke of trustees causing significant consumer harm. Misconduct ASIC has exposed since its role expanded to cover super from 1 January 2021 include trustees misleading ...

Hume throws shade at trustee rainy day funds

KARREN VERGARA  |  MONDAY, 22 NOV 2021
Senator Jane Hume has slammed superannuation funds for creating rainy day funds that pay for potential penalties because of misconduct. Hume points to a recent trend in which several super funds applied to the courts seeking permission to charge members ...

Economic recap: Week to November 19

BENJAMIN ONG  |  MONDAY, 22 NOV 2021
... raise interest rates. More so because it's below the 3.0% growth rate the RBA determines as the rate that would send consumer price inflation on the up and up. The RBA thinks that it'll be at the later months of 2023 before wages growth reaches an annual ...

Citi launches sustainability-linked supply chain finance

KARREN VERGARA  |  FRIDAY, 19 NOV 2021
... suppliers in additional markets over the coming weeks. The bank also introduced the program with German chemical and consumer goods company, Henkel. "We are convinced that sustainability-linked supply chain financing can help improve sustainability across ...

ASIC reviews super calculators

KARREN VERGARA  |  FRIDAY, 19 NOV 2021
... feedback until 28 January 2022, the corporate regulator launched a consultation with the super industry and is also inviting consumer groups and actuaries for their input. ASIC wants to provide "longstanding relief from personal financial advice requirements" ...

MLC to face court over insurance failures

JAMIE WILLIAMSON  |  FRIDAY, 19 NOV 2021
... insureds including the non-provision of benefits, failures to make payments and update policy definitions, and widespread consumer harm," documents state. Acknowledging the action, a spokesperson for MLC Life said: "These events were self-reported to ...

ASIC launches remediation review

KARREN VERGARA  |  WEDNESDAY, 17 NOV 2021
... foremost, in delivering on promises to consumers, second in identifying the failures and third in being able to remediate consumer loss in a timely way," Chester said. ASIC is currently monitoring 64 remediations that will compensate about $5.4 billion ...