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Showing 111 - 120 of 559 results for "CEA"

Morningstar downgrades PIMCO, Vanguard funds

JAMIE WILLIAMSON  |  THURSDAY, 27 APR 2023
Morningstar has downgraded four fixed income products following its annual fund manager review. As part of the 2022/23 review, Morningstar completed qualitative assessments of 72 fixed income strategies. As a result, four products were downgraded and ...

Former adviser jailed for six years

JAMIE WILLIAMSON  |  WEDNESDAY, 26 APR 2023
A former financial adviser was sentenced to six years behind bars for committing a $650,000 fraud, using clients' SMSF savings to pay off his personal debts. Appearing before the Maroochydore District Court, former adviser Brett Gordon faced nine counts ...

ATO keeping tabs on SMSF early access, tax avoidance

KARREN VERGARA  |  FRIDAY, 21 APR 2023
The tax office issued a fresh warning to the rich who use self-managed superannuation funds as a vehicle for dodging tax and those who illegally access their retirement savings early. Of the total SMSFs in existence, 25% are operated by private wealth ...

APRA consults on approach to combining product histories

JAMIE WILLIAMSON  |  THURSDAY, 20 APR 2023
APRA is consulting on the need for it to make individual determinations for lifecycle MySuper products for which performance histories are required to be combined for the YFYS test. Currently, the performance test involves two situations where performance ...

Former Shaw and Partners adviser banned

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
A former Shaw and Partners financial adviser was permanently banned by ASIC after it was determined he was not competent and likely to breach the law again. It followed an investigation that found he, among other things, accepted unlawful commissions ...

US regulator sues crypto giant, chief executive

CASSANDRA BALDINI  |  TUESDAY, 28 MAR 2023
... regulator said. "The defendants allegedly chose to knowingly disregard applicable provisions of the Commodity exchange Act (CEA) while engaging in a calculated strategy of regulatory arbitrage to their commercial benefit." In its continuing litigation ...

AustralianSuper to decrease premiums

JAMIE WILLIAMSON  |  MONDAY, 27 MAR 2023
Members of the nation's largest superannuation fund will soon see the cost of their death and TPD cover drop. About 97% of AustralianSuper's insured members will receive a premium reduction across death, total and permanent disability, and some income ...

Advice group chief fakes exam result, banned

JAMIE WILLIAMSON  |  THURSDAY, 16 MAR 2023
The chief executive of a North Sydney financial advice group is permanently banned by ASIC for faking his Financial Adviser Exam results. In December 2021, Bluepoint Consulting chief executive and co-founder Todd Karamian altered the result on his Financial ...

Bloomberg pays US$5m in SEC charges

CASSANDRA BALDINI  |  TUESDAY, 24 JAN 2023
The finance juggernaut has agreed to fork out US$5 million in penalties to the Securities and Exchange Commission (SEC) following charges related to its fixed income valuations. The SEC alleged that Bloomberg Finance LP misled disclosures relating to ...

Berkshire Hathaway, IAG restructure agreement

CASSANDRA BALDINI  |  THURSDAY, 12 JAN 2023
Berkshire Hathaway has renewed its whole of account quota share (WAQS) agreement with Insurance Australia Group (IAG) but ceased its strategic relationship and equity ownership. The renewed terms with National Indemnity Company (NICO), a subsidiary ...