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Showing 1671 - 1680 of 5948 results for "Banks"

First home buyers: Devil is in the detail for super funds

EMMA RAPAPORT  |  THURSDAY, 11 MAY 2017
... their members. "One of the reasons the Labor Party's First Home Saver Account failed was that it was complicated and the banks never really promoted the special accounts that were required for the deposits to go into," Beveridge said. "You can bet software ...

Budget undermining super: Labor

KARREN VERGARA  |  WEDNESDAY, 10 MAY 2017
... warned that it is an area it "will be looking at very closely." The one-stop shop for complaints "will do nothing" to stop banks and financial advisers ripping off thousands of customers, Labor noted. It will however, support the major banks levy despite ...

Financial dispute authorities combined for 'one-stop-shop'

EMMA RAPAPORT  |  TUESDAY, 9 MAY 2017
... University of Melbourne law professor Ian Ramsay. "Australians need to be confident that financial services providers - banks, insurers, superannuation funds - will serve their customer's interests," Budget documents said. "Too often the sector has not ...

What the 2017 Budget means for you

DARREN SNYDER  |  TUESDAY, 9 MAY 2017
... the "double taxation" on said purchases. There are also provisions for newer entrants into the banking industry. The major banks will be slugged $6.2 billion via a new levy to level the playing field for the banking sector. The government said this represents ...

Government fintech agenda spotlights microbanking

ALEX BURKE  |  TUESDAY, 9 MAY 2017
... statement added, "these changes are expected to improve competition by encouraging new entrants." Further benefits to smaller banks include support for a phased approach to bank licensing, which the statement said "will make it easier for new innovative ...

Major banks receive Budget shakeup

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2017
The major banks will be slugged $6.2 billion via a new levy to level the playing field for the banking sector. "This represents a fair additional contribution from our major banks and will assist with budget repair by at least $1.5 billion per year," ...

Increased APRA levies provide regulator with more power

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2017
... disqualified from holding executive positions, and be stripped of their significant bonuses," Treasurer Scott Morrison said. "Banks will be held to account if they try and hide misconduct by executives with new mandatory reporting requirements. If banks ...

Treasurer launches new financial system inquiry

KARREN VERGARA  |  TUESDAY, 9 MAY 2017
... international competitiveness, Treasurer Scott Morrison said. While Morrison did not specifically reference the big four banks, he said the inquiry will focus on "contestability and concentration in key segments of the financial system, including the ...

Strong quarter for CBA

KARREN VERGARA  |  TUESDAY, 9 MAY 2017
... up 4% to $2.4 billion. CBA's capital adequacy ratio stood at 9.6%, up 37 basis points from December 2016. APRA requires banks and authorised deposit-taking institutions maintain a certain amount of capital at all times. A 2016 APRA study found the major ...

Bravura extends international mandate

JAMIE WILLIAMSON  |  FRIDAY, 5 MAY 2017
Bravura Solutions was awarded a renewed mandate from the insurance business of one of the UK's largest retail banks. The financial services software provider signed a new five-year contract with Lloyds Banking Group to continue its insurance arm's funds ...