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Showing 111 - 120 of 5096 results for "September 2017"

Experience pathway enshrined in legislation

KARREN VERGARA  |  FRIDAY, 8 SEP 2023
The highly anticipated legislation that recognises veteran financial advisers as professionals and exempts them from undertaking further qualifications has passed both houses of parliament. The Labor government passed Treasury Laws Amendment (2023 Measures ...

APRA finds signs of step change in remuneration practices

ANDREW MCKEAN  |  THURSDAY, 7 SEP 2023
APRA has found early signs of change in the remuneration practices of financial services entities in a review of how Prudential Standard CPS 511 has been applied. In a letter to all APRA-regulated entities, the regulator said it was pleased with the ...

Integrity Life to cease writing new retail policies

JAMIE WILLIAMSON  |  TUESDAY, 5 SEP 2023
Integrity Life will not take on any new retail advised business, saying the decline in risk advisers has forced a strategic pivot. Integrity Group, the parent company of Integrity Life, said it undertook a review of the business' strategy, considering ...

Willis Towers Watson buys funds from advice group

JAMIE WILLIAMSON  |  TUESDAY, 5 SEP 2023
Willis Towers Watson acquired two managed investment schemes from Profile Financial Services, as the latter looks to focus its efforts on financial advice. The two multi-asset, multi-manager unitised schemes have been operated by Profile since their ...

Financial hardship neglect lands Westpac in court

KARREN VERGARA  |  TUESDAY, 5 SEP 2023
ASIC is suing Westpac for neglecting more than 200 customer hardship requests over seven years, for which the bank blames "technology failure". ASIC commenced civil penalty proceedings in the Federal Court, alleging that Westpac failed to respond to ...

Government consults on superannuation objective laws

ANDREW MCKEAN  |  FRIDAY, 1 SEP 2023
The federal government is consulting on proposed superannuation legislation that will enshrine an objective to "preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way." The Superannuation ...

Latest CPI data provides case for rate pause

CHLOE WALKER  |  THURSDAY, 31 AUG 2023
Inflation in Australia has slowed to its lowest level in a year and a half, encouraging thoughts that the Reserve Bank of Australia (RBA) tightening cycle has peaked. The Australian Bureau of Statistics (ABS) revealed the consumer price index (CPI) ...

Ninety-seven super products fail performance test

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
Of the 97 products to fail this year's superannuation performance test, 96 are trustee-directed products - 75% of which are issued by the same four trustees. Released this morning, the 2023 performance test marks the first time trustee-directed ...

Citi terminates staff super fund

JAMIE WILLIAMSON  |  TUESDAY, 29 AUG 2023
Citi is closing its staff superannuation fund and ceasing all defined benefit funding, saying it's no longer feasible to continue operating. Employees were recently advised the company had given notice to the trustee that it has decided to terminate ...

Super, retirement unit cushions Link's massive loss

KARREN VERGARA  |  MONDAY, 28 AUG 2023
Link Group's retirement and superannuation business helped cushion the massive $418 million loss in the 2023 financial year, despite losing HESTA as a major client. Link's Retirement and Superannuation Solutions (RSS) unit, which contributes ...