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Showing 1311 - 1320 of 9372 results for "Fee"

Former adviser lands in jail

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
A former financial adviser who took more than $1 million from clients to feed his online gambling addiction has been sentenced to jail for five years. The District Court of Western Australia found Mark Raymond Sebo guilty of misappropriating $1,056,685.18 ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
ANZ Bank has been ordered to pay $15 million by the Federal Court for misleading customers over the funds available to them in select credit card accounts. The Court found that ANZ breached both the ASIC and the National Consumer Credit Protection Act ...

Qantas Super confirms merger plans

JAMIE WILLIAMSON  |  MONDAY, 25 SEP 2023
Having reviewed its current scale and potential for growth, the $8.4 billion superannuation fund has confirmed it intends to explore merger options. Following speculation last week, Qantas Super said the board has reviewed the fund's size, growth ...

Apostle names global distribution lead

JAMIE WILLIAMSON  |  MONDAY, 25 SEP 2023
Apostle Funds Management has hired Martin Currie's co-head of global distribution to the newly created role as it pushes further into Asia and Middle East. The fund manager will soon welcome Kimon Kouryialas as director, head of global distribution. ...

APRA moves to ensure improved member outcomes

ANDREW MCKEAN  |  FRIDAY, 22 SEP 2023
... resources. Further, the draft of the updated SPS 515 will push trustees to adopt a prudent approach in key areas, including fee setting and the oversight of member-fund reserves, and improve the risk management procedures involved in transferring members ...

MLC Life unveils retail discounts

KARREN VERGARA  |  FRIDAY, 22 SEP 2023
MLC Life Insurance has introduced several discount changes that can save new and existing retail customers up to 50% across various products. For financial advisers and new clients, MLC Life has applied a range of discounts across different products ...

State Street implements first rebrand in 50 years

CHLOE WALKER  |  FRIDAY, 22 SEP 2023
State Street has rebranded for the first time in over five decades, saying its new look represents its "history of firsts", with the branding unveiled alongside its new global headquarters. The new brand and digital-first visual identity has been designed ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... our banks, to act quickly to reduce consumer harm." In response, NAB said the issue "related to the incorrect selection of a fee by NAB when setting up a payment arrangement within personal and business banking accounts." "We apologise to all impacted ...

APRA consults on hybrid bond resilience

CASSANDRA BALDINI  |  THURSDAY, 21 SEP 2023
The regulator is seeking feedback on improving the effectiveness of hybrid capital bonds amid concerns design features would not be resilient enough to withstand a banking crisis. APRA released its discussion paper on Thursday, citing the challenges ...

Treasury consults on PwC-linked reforms

CASSANDRA BALDINI  |  WEDNESDAY, 20 SEP 2023
The government has published its draft legislation and is seeking feedback on its proposed reforms, which aim to strengthen the integrity of the tax system and regulators' powers in response to the recent PwC scandal. The new legislation outlines changes ...