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Showing 1771 - 1780 of 6264 results for "DET"

Charles Schwab fails consumers, cops fine

KARREN VERGARA  |  TUESDAY, 22 DEC 2020
Charles Schwab UK has been fined $15.6 million for failing to protect consumers and lying to the regulator. CSUK has to cough up GBP8.96 million for a number for safeguard and compliance failures, the UK's Financial Conduct Authority has found, noting ...

Chief economist update: Government spending made money, saved money

BENJAMIN ONG  |  FRIDAY, 18 DEC 2020
The Morrison government has released its Mid-Year Economic Financial Outlook (MYEFO), proving the old saying 'You must spend money to make money' right. This quote, generally attributed to Roman playwright, poet and philosopher Titus Maccius ...

Regulators alert trustees of new obligations

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
The financial services and superannuation regulators have expressed their expectations to trustees on the new member outcomes, and product design and distribution obligations. In a letter to trustees co-signed by APRA deputy chair Helen Rowell and ASIC ...

Cbus, Media Super merger progresses

JAMIE WILLIAMSON  |  TUESDAY, 15 DEC 2020
The two industry superannuation funds will move on to the next phase of merger preparations, as the smaller of the two confirms the closure of numerous investment options. Cbus and Media Super have announced they are commencing work on a merger plan ...

ASIC explores value for money in default group insurance

ELIZABETH MCARTHUR  |  MONDAY, 14 DEC 2020
ASIC has published a new report, aiming to determine whether consumers are receiving value for money in default insurance in superannuation. Report 675 Default insurance in superannuation: Member value for money explores metrics that ASIC said can help ...

Design, distribution obligations guide released

KARREN VERGARA  |  FRIDAY, 11 DEC 2020
The regulatory guide on product design and distribution obligations for the financial services industry has been released. ASIC's RG 274 Product design and distribution obligations aims to help consumers obtain appropriate financial products by ...

UniSuper wins in court judgement on board

KANIKA SOOD  |  THURSDAY, 10 DEC 2020
The Victorian Supreme Court on Tuesday decided in favour of the $83 billion industry fund after a union asked the court to decide on its rights in nominating a director for the UniSuper board. The Community and Public Sector Union (CPSU) on September ...

TAL group life lead in new role

JAMIE WILLIAMSON  |  WEDNESDAY, 9 DEC 2020
TAL's executive general manager of group life is set to take on a new role at Zurich in March. Darren Wickham has been appointed head of group insurance at Zurich, joining the insurer's leadership team. With about 30 years' experience as ...

Chief economist update: Japan's five minutes of sunshine

BENJAMIN ONG  |  WEDNESDAY, 9 DEC 2020
However it's measured, economic growth has rebounded in the Land of the Rising Sun from the depths of the huge contraction recorded in the June 2020 quarter. Japanese GDP surged at an annualised rate of 22.9% in the September quarter (from a 29.2% ...

Vision Super increases premiums

ELIZABETH MCARTHUR  |  TUESDAY, 8 DEC 2020
Vision Super and its group insurer MLC Life have increased the cost of insurance premiums by 17.8%. The $10.3 billion industry fund said that MLC Life had determined the 17.8% increase was required to continue to cover the cost of providing insurance ...