Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 161 - 170 of 632 results for %22Financial Services Royal Commission%22

Macquarie shares halve in COVID-19 sell-off

ALLY SELBY  |  FRIDAY, 20 MAR 2020
... of the COVID-19 sell-off (February 21), Macquarie shares have taken a 47.6% hit. At the time of writing, the financial services powerhouse was trading up 7.24% at $85.04. Yesterday they hit a three-year low of $78.13. Marcus Today chief operating officer ...

ASIC drags CFS to court over MySuper

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
... contends that the communication to members breached CFS' obligations to do all things necessary to ensure that financial services covered by its licence provided efficiently, honestly and fairly as well as its obligations to comply with financial ...

CBA in court over RC case studies

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
... of the fact that Harris had notified it he was a problem gambler, and failed to take reasonable steps to verify his financial situation before offering and approving credit card limit increases. The regulator alleges that CBA breached sections 130(1) ...

Industry funds a bright spot for advisers

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
More than 750 financial advisers have left the advice sector in the last three months, but industry superannuation funds are recruiting. In the three months to today, 757 financial advisers have dropped off the ASIC Financial Adviser Register. During ...

Life insurers are doing their best: FSC

ELIZABETH MCARTHUR  |  THURSDAY, 12 MAR 2020
The Financial Services Council has responded to a largely damning report from the Life Code Compliance Committee, arguing it is silent on positive changes the industry has made. The report looked at cases dating back to June 2017 and found that timeframes ...

Lack of independence must be made clear: ASIC

ELIZA BAVIN  |  TUESDAY, 10 MAR 2020
Financial advisers will need to provide every retail client a written statement explaining "simply and concisely" why they are not independent, impartial and unbiased; if ASIC's draft recommendations for advice fees are adopted. The purpose, ASIC said ...

Banned advisers still working in advice: FPA

ELIZABETH MCARTHUR  |  MONDAY, 9 MAR 2020
... that Commissioner Hayne identified cultural, behavioural and misconduct issues by other participants in the financial services industry such as product providers including insurers and superannuation entities," the submission said. "Like all industries ...

Advice groups criticise rushed legislation

ELIZABETH MCARTHUR  |  WEDNESDAY, 4 MAR 2020
... Meanwhile The Advisers Association (TAA), formed when the AMP Financial Planning association merged with Hillross Financial Services association, called the legislation "rushed" and said it was likely to result in poorer outcomes for Australians. TAA ...

Fight for MySuper advice fees kicks off

ELIZABETH MCARTHUR  |  TUESDAY, 3 MAR 2020
... said while the fund supports any legislation to improve transparency, governance and accountability in the financial services sector - the proposed legislation risks creating a two-tier system in super and advice. "Any legislation that creates a barrier ...

ANZ Australia risk chief exits

JAMIE WILLIAMSON  |  FRIDAY, 28 FEB 2020
... her replacement. ANZ wishes her all the best, the spokesperson added. Prior to joining ANZ, Rixon worked with financial services clients as partner, risk advisory services at PwC. Rixon appeared before the Royal Commission in April 2018 and was questioned ...