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Showing 1251 - 1260 of 4252 results for "LIC"

Challenger to buy industry-fund-owned bank

KANIKA SOOD  |  WEDNESDAY, 23 DEC 2020
Challenger will spend $35 million to buy Catholic Super's banking business, in a move that Bell Porter says could have more upside than suggested by the company this morning. Challenger and MyLife MyFinance have entered into an agreement with an expected ...

Former adviser pleads guilty to theft, dishonesty

KANIKA SOOD  |  TUESDAY, 22 DEC 2020
A former financial adviser and company director will be sentenced on April 30 after pleading guilty to charges relating to mishandling of client money in an IPO. Keith James Flowers (formerly Nigel Flowers) pled guilty to one charge each of dishonesty ...

ASIC to review impact of ASX outage

KANIKA SOOD  |  TUESDAY, 22 DEC 2020
In 2021, ASIC will review how market participants adapted to the ASX's outage in November, and if they and the ASX violated their market operating licences. On November 16 at 10:24 am, ASX halted trading on ASX Trade after switching to new systems ...

Missing Caddick's mansion on the line

ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
The Federal Court has appointed receivers to the property of self-proclaimed but unlicensed financial adviser Melissa Caddick, who has been missing for a month. Following a successful ASIC application, the court appointed receivers to Caddick's property ...

Almost 3000 advisers gone in 2020

ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
A total of 2802 financial advisers have departed the industry in 2020, with just 60 new advisers joining, according to Rainmaker analysis of the Financial Adviser Register. AMP Financial Planning lost the most advisers of any AFSL this year, with 323 ...

FS team picks: The top stories for 2020

ELIZABETH MCARTHUR, KANIKA SOOD  |  THURSDAY, 17 DEC 2020
Of the almost 3500 stories penned this year, these are the stories the Financial Standard team feels defined 2020. The Financial Standard editorial team has written 3484 stories so far in 2020. It wasn't always easy either. Like most of you, we ...

Xinja ceases banking

ELIZA BAVIN  |  WEDNESDAY, 16 DEC 2020
The prudential regulator has confirmed it will be monitoring the return of deposits by Xinja Bank as it ceases to operate as an authorised deposit-taking institution (ADI). Xinja made the decision to withdraw its transaction and savings account products ...

LICs show sign of struggle

ANNABELLE DICKSON  |  WEDNESDAY, 16 DEC 2020
... managed accounts and ETP sector are each worth $66 billion while LICs hold $44 billion and mFunds at $1 billion. Around 66% of LIC assets are in Australian equities, followed by international equities at 27%, fixed interest at 10% and property and infrastructure ...

ASIC takes action on Union Standard

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
ASIC has commenced civil penalty proceedings against brokerage firm Union Standard International Group and its affiliates. The corporate regulator has taken action against the Sydney-based retail over-the-counter derivatives issuer and its former corporate ...

Regulators alert trustees of new obligations

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
The financial services and superannuation regulators have expressed their expectations to trustees on the new member outcomes, and product design and distribution obligations. In a letter to trustees co-signed by APRA deputy chair Helen Rowell and ASIC ...