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| | | ... there's a reasonable reason why payment hasn't been made. If that hasn't been provided, it's referred to ASIC. But, yes, ultimately, we would then get to a position where we would have to say, advise the consumer of their right to go ... |
| | | | The ASX had its worst day since March 2020 yesterday, wiping $102 billion as investors got the jitters over a potential US recession. Mediocre jobs data released in the US sparked recession fears with investors also concerned the Federal Reserve is ... |
| | | | After Perpetual reported worse than expected outflows yesterday, Morningstar has lowered its fair value estimate for the 138-year-old wealth giant. However, it says things aren't all bad. In a quarterly update yesterday, Perpetual disclosed $8.9 ... |
| | | | After announcing his departure from Australian Retirement Trust (ART) yesterday, Dave Woodall has been named chief executive of superannuation at Insignia Financial. Earlier this month, Insignia Financial announced an overhaul of its leadership team. ... |
| | | | Generation Development Group, the parent company of Generation Life, which recently acquired the remaining stake in Lonsec, has reported a $673 million increase in funds under management (FUM) over the last financial year. Generation Life received over ... |
| | | | ASIC won its first Federal Court action in relation to breaches of design and distribution provisions against non-bank lender and investment manager Firstmac over a cross-selling strategy for investment products. The Federal Court found yesterday that ... |
| | | | The first tranche of the Delivering Better Financial Outcomes (DBFO) legislation passed both the upper and lower houses yesterday. Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill aims to reduce red tape for financial ... |
| | | | The Senate committee tasked with assessing the capabilities of ASIC says the government should recognise the regulator has "comprehensively failed to fulfil its regulatory remit", calling for a complete overhaul of its structure, powers and how it's ... |
| | | | The Takeovers Panel declared that rogue shareholders, which include Glennon Capital, seeking to gain control of Sequoia Financial Group were not transparent about their relationship and breached substantial shareholder laws. In an update to the ASX ... |
| | | | Two separate laws that regulate how superannuation funds deal with non-arm's length expenses (NALE) and income (NALI) and expands the Australian Financial Complaints Authority's (AFCA) remit over super passed Parliament on June 25. Treasury ... |
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