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Showing 1651 - 1660 of 11021 results for "Account"

Macquarie terminates alternatives fund

CASSANDRA BALDINI  |  WEDNESDAY, 24 MAY 2023
... your share of the net proceeds of the termination, after deducting any liabilities of the fund, to your nominated bank account as soon as reasonably practicable." Regarding tax consequences, Macquarie said whether investors redeem prior to the termination ...

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
... trustee didn't adequately inform members of their right to retain their default insurance cover by either maintaining an account balance of at least $6000 or submitting a form electing to continue their coverage. "This was in breach of its obligation ...

BT names distribution lead

KARREN VERGARA  |  TUESDAY, 23 MAY 2023
... Brown, who has been head of distribution in an acting capacity, officially takes the post. He was previously the head of account management for nearly five years and prior to that was regional manager, distributing BT Wrap and Asgard platforms across ...

ASIC bans former Gleneagle fund manager

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
ASIC has banned former Gleneagle fund manager, Gregory Tolpigin, from providing financial services for naked short selling. Tolpigin is also banned from controlling a financial services business or performing any function involved in carrying on a financial ...

FAAA sounds alarm on no-consultation super reform

ANDREW MCKEAN  |  MONDAY, 22 MAY 2023
... the implications for clients and advisers alike. He signalled that the reform process may not have adequately taken into account the potential reactions of clients who receive notifications of product failures. "If clients receive a letter without their ...

BNPL to be regulated under Credit Act

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
The government has handed down its plan to regulate buy now, pay later (BNPL) providers and products under the Credit Act to strengthen consumer outcomes. Historically, BNPL schemes have been exempt from tough regulation as they do not charge interest ...

Don't discount Vietnam: Dragon Capital

CHLOE WALKER  |  MONDAY, 22 MAY 2023
Having dropped by 34% last year, the Vietnam stock market is now seeing very attractive valuations, according to investment manager Dragon Capital. Dragon Capital, which manages the largest and oldest Vietnam-focused fund, Vietnam Enterprise Investments ...

ASIC issues stop orders to Saxo

CASSANDRA BALDINI  |  FRIDAY, 19 MAY 2023
Saxo Capital Markets was forced to amend its target market determinations after the regulator raised concerns. ASIC said the stop orders, handed down on Tuesday, prevented Saxo from issuing new contracts for difference (CFDs) to retail clients because ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
The Federal Court found AMP guilty of charging deceased customers life insurance premiums and advice fees, ordering it to pay $24 million in penalties. Justice Hespe today determined that four AMP subsidiaries - AMP Life, AMP Financial Planning, AMP ...

Super fund blunder likely down to bad data: Podcast

CASSANDRA BALDINI  |  THURSDAY, 18 MAY 2023
Holding Redlich partner Luke Hooper says when it comes to AustralianSuper's recent intra-fund consolidation breach, it's likely the root cause lays in data entry. The recent case of AustralianSuper refunding 100,000 members it had held multiple ...