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Showing 1601 - 1610 of 12383 results for "May"

Magellan downplays collapse, open to takeover

KARREN VERGARA  |  WEDNESDAY, 8 NOV 2023
... period. Statutory net profit after tax of $182.7 million followed a linear trend, down 52%. Formica conceded that the firm "may well be a target" to other fund managers looking to acquire at a significant discount. "There's significant value and ...

Fears grow around greenwashing litigation protections

ROSE MARY PETRASS  |  WEDNESDAY, 8 NOV 2023
... currently in its infancy in Australia." GI wants a similar phase-in approach for smaller entities, which have fewer resources and may be the least prepared for the significant shift in the new reporting requirements. Under the proposal by Treasury smaller ...

AFCA consults on advice, MIS compensation

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... involved in a complaint. Federal and state laws can assist in apportioning liability. If this is not possible AFCA said it may hold the party that breached the non-apportionable claim entirely responsible for losses arising from the breach. AFCA also ...

Westpac reports $7.2bn profit

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... Panorama, Westpac Pacific, margin lending, and retail auto finance, contributed $605 million in profit. Since its formation in May 2020, the division divested 10 business units. This year, it divested BT's personal and corporate superannuation funds ...

Licensees flout breach reporting regime: ASIC

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
... the total number of licensees lodged a report. This is suspiciously low in ASIC's eyes as it indicates that some licensees may not have in place the systems and processes required to detect and report breaches. Most breaches were identified via staff ...

Willis Towers Watson sheds more corporate super plans

JAMIE WILLIAMSON  |  TUESDAY, 31 OCT 2023
... business remains operational. As for the Nissan plan, she said WTW was "not able to comment on what Nissan's approach may be." Meanwhile, around the same time as the Linfox transfer, WTW also terminated its own Towers Watson Superannuation Fund. ...

Financial services firms hit with criminal charges

CHLOE WALKER  |  TUESDAY, 31 OCT 2023
... breaches of financial reporting obligations as required by the Corporations Act. "Failure to lodge audited financial statements may result in cancellation of a licensee's Australian financial services (AFS) licence," it said. The ultimate penalty ...

Power50: Most influential advisers named

STAFF WRITER  |  MONDAY, 30 OCT 2023
... the process. "While we still await the Quality of Advice Review (QAR) package of reforms, standing at the precipice of what may well be among the most monumental changes the industry has experienced, many of the advisers on this year's list are already ...

Adviser numbers steady, but shortfall predicted

CHLOE WALKER  |  MONDAY, 30 OCT 2023
... adviser numbers will sit in the range of 15-18,000, Rainmaker said. "If the adviser numbers reach their upper level, they may just keep up with expected consumer demand," Rainmaker said. "But if they come in at the lower end, the per-capita number of ...

Government to amend transfer balance cap laws

ANDREW MCKEAN  |  FRIDAY, 27 OCT 2023
... members aren't adversely impacted as a result of a merger or successor fund transfer. "Under current legislation, a member's cap may be unintentionally impacted due to the original income stream being treated as ceasing and a new one beginning," he said. ...