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Showing 1761 - 1770 of 6884 results for "Act2"

Not-so-Zuper: Super disruptor folds

JAMIE WILLIAMSON  |  MONDAY, 22 MAR 2021
Having failed to reach sufficient scale, the millennial superannuation fund will close its doors next month. Closed to new members as of March 10, existing Zuper members have now received word that the offering will cease to exist from April 30 - just ...

ANZ, CBA settle class action

ANNABELLE DICKSON  |  MONDAY, 22 MAR 2021
ANZ and Commonwealth Bank (CBA) have both reached an agreement to settle a class action in the US related to the trading of bank bill swap (BBSW) products in 2016. The class action commenced in 2016 in the United States District Court for the Southern ...

Adamantem invests in carbon farming

ELIZA BAVIN  |  MONDAY, 22 MAR 2021
Adamantem Capital has taken a majority stake in a carbon farming project developer which works to regenerate farmed land. Adamantem has joined Climate Friendly as a majority stake investor, supporting the business' growth and aim to tackle the climate ...

NZ overhauls regulation of advice

JAMIE WILLIAMSON  |  FRIDAY, 19 MAR 2021
The way in which financial advice is regulated in New Zealand has changed, with a host of new requirements introduced and robo-advice now subjected to the same rules as advice delivered in person. From March 15, all providers of financial advice to ...

WTW wins mandate from NZ government super fund

ELIZABETH MCARTHUR  |  THURSDAY, 18 MAR 2021
Willis Towers Watson has been appointed to review the New Zealand Government Superannuation Fund Authority (NZ GSFA). Under this appointment, WTW will assess NZ GSFA's investment approach to determine how effectively and efficiently it is performing ...

Foreign exchange brokers banned

ANNABELLE DICKSON  |  THURSDAY, 18 MAR 2021
The corporate watchdog has banned the sole director and four employees of contracts-for-difference and FX broker Forex Capital Trading from providing financial services. Forex CT chief executive officer, responsible manager and sole director Shlomo ...

Low pass rate for latest FASEA exam

ELIZABETH MCARTHUR  |  THURSDAY, 18 MAR 2021
The latest Financial Adviser Standards and Ethics Authority (FASEA) exam had the lowest pass rate yet. A total of 1079 advisers sat the exam, compared to an average of 1323 across all exams. Only 73% of those that sat the January exam passed. The overall ...

CSC pivots towards divestment

ELIZABETH MCARTHUR  |  WEDNESDAY, 17 MAR 2021
At Commonwealth Superannuation Corporation's annual general meeting yesterday, the $50 billion government fund revealed it has divested pure-play coal. CSC chief investment officer Alison Tarditi revealed for the first time that the fund has divested ...

Admin fees could balloon from BFID

KARREN VERGARA  |  TUESDAY, 16 MAR 2021
The new best financial interests duty (BFID) could see members pay higher administration fees as the record-keeping obligations ramp up, superannuation funds and industry experts warn. The reforms, which are part of the Your Future Your Super legislation ...

Banks still failing customers after Royal Commission

ELIZA BAVIN  |  TUESDAY, 16 MAR 2021
A review of Australian Financial Complaints Authority (AFCA) complaints data shows over 31,000 complaints have been made in the wake of the Royal Commission, according to CHOICE. Complaints around credit products revealed many customers have still been ...