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Showing 1491 - 1500 of 4757 results for "July 2015"

AMP to pay $5m for churn

JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
The Federal Court has ordered AMP to pay $5.175 million for failing to ensure its financial advisers complied with the best interests duty by engaging in insurance churn. In a case brought in June 2018, ASIC alleged that a number of AMP Financial Planning ...

Where to from here?

JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
On the anniversary of the Royal Commission's final report, AFA chief Phil Kewin reflects on the year that was and how the playbook - and rules - changed for advisers. It's been 12 months since the financial services sector was hit with Commissioner ...

Permanent ban follows alleged SMSF theft

HARRISON WORLEY  |  WEDNESDAY, 5 FEB 2020
A Sydney-based financial adviser has been permanently banned for allegedly transferring client SMSF funds to the trust account of a business she controlled. ASIC has permanently banned Sydney adviser Tram Tran, after it found the funds of her clients ...

SG increase means lower wages: Grattan

HARRISON WORLEY  |  MONDAY, 3 FEB 2020
Grattan Institute has again weighed into the ongoing debate over the necessity of the legislated increase to the superannuation guarantee. In a new research paper, Grattan claims workers "overwhelmingly" pay for increases to the super guarantee through ...

Overhaul bites Deutsche Bank bottom line

ALLY SELBY  |  FRIDAY, 31 JAN 2020
Multinational investment powerhouse Deutsche Bank is looking worse for wear, posting a full-year net loss of $8.71 billion (€5.3 billion). The multi-billion dollar loss has been driven by the bank's strategic transformation project, which saw ...

Chief economist update: It's a holiday for the Fed

BENJAMIN ONG  |  FRIDAY, 31 JAN 2020
"Gone Fishing!" Given "current" market expectations, this would be an appropriate sign on the Fed's door. As expected, the US central bank kept monetary policy settings unchanged at the conclusion of its January FOMC meeting. "The Committee decided ...

AMP cuts super fees

JAMIE WILLIAMSON  |  THURSDAY, 30 JAN 2020
AMP is reducing investment and administration fees across its suite of superannuation products, including removing the Stronger Super fee it introduced in 2013 to finance the implementation of the reforms. The fee cuts will be applied to MySuper, choice ...

GAM hires, launches new strategies

ELIZA BAVIN  |  WEDNESDAY, 29 JAN 2020
GAM Investments is expanding its Australia business with a new hire for its wholesale business and the introduction of two new funds. Ryan Crewe has been appointed manager - key accounts and will be responsible for developing GAM's distribution ...

American private debt fund eyes Australia

KANIKA SOOD  |  THURSDAY, 23 JAN 2020
A private debt manager with stellar past returns, is eyeing local superannuation funds as it starts to raise for a new fund. Victory Park Capital, headquartered in Chicago, is best known in the US for lending to financial services companies, focused ...

Chief economist update: Australians all let's not rejoice

BENJAMIN ONG  |  THURSDAY, 23 JAN 2020
"I'm walking on sunshine (Wow!) I'm walking on sunshine (Wow!) I'm walking on sunshine (Wow!) And don't it feel good." Sadly, Australians are not singing and dancing to this upbeat classic by Katrina and the Waves. The Westpac/Melbourne ...