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Showing 1381 - 1390 of 11015 results for "Account"

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
The Federal Court has imposed a $5 million penalty on OnePath Custodians for unlawfully deducting adviser service fees from members. According to court documents, the trustee made misleading representations about its right to continue charging fees ...

Future Group acquires Verve Super

JAMIE WILLIAMSON  |  WEDNESDAY, 29 NOV 2023
Just a month on from taking on GuildSuper, Future Group has now acquired 100% of women-focused fund Verve Super. Verve Super is now a wholly owned subsidiary of Future Super, under a deal finalised this month. Having long struggled to offer a competitive ...

On-platform TDPs miss performance test benchmarks, worst on fees: APRA

ANDREW MCKEAN  |  WEDNESDAY, 29 NOV 2023
APRA has released new insights into superannuation product performance, revealing that most on-platform trustee directed products (TDPs) underperform their benchmark and exhibit higher administration fees. The prudential regulator's analysis based on ...

BBY manager charged with aiding and abetting

KARREN VERGARA  |  WEDNESDAY, 29 NOV 2023
... instructed St George Bank on 13 June 2014 to transfer $6.8 million of client funds out of BBY's futures client segregated account, a client money account, and then to other accounts. ASIC believes that such instructions intended to fund a margin payment ...

Spatium Capital selects trustee, administrator for small caps fund

CASSANDRA BALDINI  |  TUESDAY, 28 NOV 2023
Melbourne-based Spatium Capital has named True Oak as its trustee and the ASCENT Group as the administrator of its small companies fund. True Oak and the ASCENT Group are expected to oversee the Spatium Capital Small Companies Fund (SSCF) from early ...

Gender pay gap trends down: WGEA

KARREN VERGARA  |  TUESDAY, 28 NOV 2023
The gender pay gap has hit a new low of 21.7%, largely driven by women working in senior management positions - except chief executive roles. According to the Workplace Gender Equality Agency's (WGEA) latest scorecard, which assessed 4.82 million ...

Commonwealth Super Corp selects Challenger for retirement products

CHLOE WALKER  |  TUESDAY, 28 NOV 2023
... quantitative research, CSC said it chose Challenger to provide a longevity solution that can be combined with its CSCri account-based pension. "We are delighted to partner with Challenger, Australia's largest provider of annuities," CSC chief executive ...

Private equity, venture capital outperform listed assets: Research

CHLOE WALKER  |  FRIDAY, 24 NOV 2023
... VC returns are driven by recent market performance and investments are largely unrealised. "In Australia, PE strategies account for a significant amount of capital raised by dollars (90%) and number of funds (70%) over time, while VC investment has grown ...

Small, large entity regulation needs balance: APRA

KARREN VERGARA  |  WEDNESDAY, 22 NOV 2023
As small financial institutions buckle under macroeconomic pressures, it is a fine balancing act to ensure that they don't suffer unnecessary regulatory burdens to avoid a similar scenario in the US with the collapse of regional banks, APRA says. ...

SEC sues Kraken exchange again

CASSANDRA BALDINI  |  WEDNESDAY, 22 NOV 2023
... therefore operating as a broker. The SEC explained Kraken also operates as a broker, buys, and sells securities for its own account without an appropriate exception, and so operates as a dealer. Likewise, Kraken serves as an intermediary in settling ...