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Showing 141 - 150 of 6835 results for "Consumer"

AFCA secures $1.2bn in refunds

CASSANDRA BALDINI  |  TUESDAY, 21 NOV 2023
Since its inception, the Australian Financial Complaints Authority (AFCA) has clawed back $1.2 billion in compensation and refunds for more than 400,000 consumers and small businesses. Reaching its fifth year in operation, AFCA explained its efforts ...

Product modernisation will strengthen retirement outcomes: FSC

CHLOE WALKER  |  MONDAY, 20 NOV 2023
... and regulatory barriers imposed by the government. This means trustees may appropriately conclude that transferring a consumer (and triggering tax obligations) would not satisfy their best financial interest duties. "The FSC supports performance testing ...

Government consults on reforms to merger rules

CASSANDRA BALDINI  |  MONDAY, 20 NOV 2023
... don't deliver benefits to consumers, workers and the wider economy." Additionally, the Australian Competition and Consumer Commission (ACCC) has also raised concerns about Australia's merger regime. According to the consultation paper, key concerns ...

Allianz Retire+ heavyweight jumps ship

ELIZABETH FRY  |  FRIDAY, 17 NOV 2023
... Whereas his previous role was primarily building business partnerships with superfunds, CBHS Health runs a business-to-consumer business. Removing hurdles As for the retirement scene, Thornton said the industry now has a real focus on the decumulation ...

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... bring a dispute to us, we then have to consider whether we exclude it," he said. Retail investors have the benefit of consumer protections set out in the Corporations Act. Conversely, wholesale investors do not. "Sophisticated and professional investors ...

ASIC to crack down on superannuation misconduct

ANDREW MCKEAN  |  WEDNESDAY, 15 NOV 2023
ASIC has announced plans for strong, targeted enforcement action in the superannuation sector, focusing on member outcomes in 2024. Baring its teeth in an enforcement and regulatory update released today, the corporate regulator signalled that tackling ...

Super fund fees now at record low: Data

ANDREW MCKEAN  |  TUESDAY, 14 NOV 2023
Superannuation fees in Australia have reached a historic low, with the total expense ratio averaging 0.93% per annum, as per research from Rainmaker Information. Rainmaker Information's analysis of over 1500 superannuation fund fee options, spread across ...

Aussie banks deliver record profits in FY23

CASSANDRA BALDINI  |  TUESDAY, 14 NOV 2023
... year. PwC mentioned that this mirrors the delayed impacts of a prior year marked by exceptionally high inflation, where consumer prices surged by nearly 2% each quarter. Finally, the return on equity increased by 138 basis points (bps) over the year ...

Treasury unveils advice reforms draft legislation

KARREN VERGARA  |  TUESDAY, 14 NOV 2023
... "modest" but contains an "important package of reforms that will start to simplify the regulatory framework without reducing consumer protections and has the support of the financial services industry". With the missing reforms to the Safe Harbour Steps ...

Inflation still too sticky: Report

CHLOE WALKER  |  MONDAY, 13 NOV 2023
... 2024-2025 local economic outlook. The report, written by UBS economists George Tharenou and Nic Guesnon, noted while the consumer price index (CPI) is well above the RBA's target, underlying inflation pressure remains evident. "Headline CPI in the third ...

Editor's Choice

Australian Retirement Trust people chief to depart

ELIZABETH FRY
Australian Retirement Trust has confirmed the departure of chief people officer Helen Jackson, who will leave at the end of the financial year.

SSGA loses $2.4bn in two months

KARREN VERGARA
State Street Global Advisors (SSGA) suffered $2.4 billion in net outflows over the last two months of 2023, the majority of which hit its Australian and international equities products.

AFCA seeks industry feedback on approaches

ELIZA BAVIN
The financial complaints authority is asking the industry for feedback on how it approaches issues and reaches decisions.

Apex, ACA partner to broaden client services

ANDREW MCKEAN
Apex Group and ACA Group have formed a partnership to offer their clients a wider range of services.

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Jason Huljich

JOINT CHIEF EXECUTIVE OFFICER
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A single decision can change your life, and that's exactly what Centuria Capital joint chief executive Jason Huljich learned when he came to Australia in the 1990s. Eliza Bavin writes.
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