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Showing 1851 - 1860 of 6264 results for "DET"

AAA rating holds on by a thread

ELIZA BAVIN  |  WEDNESDAY, 7 OCT 2020
Australia's AAA rating will remain, but is hanging on by a thread following the government's budget announcement. Fitch ratings revised the country's rating from stable to negative on the fiscal impact of the COVID-19 shock. "The negative outlook reflects ...

Super industry cautious on more reform

ELIZABETH MCARTHUR  |  TUESDAY, 6 OCT 2020
The financial services industry and business community in Australia has responded in a generally positive manner to the government's 2020-2021 budget, but the super sector is so far cautious in its response. Australian Institute of Superannuation Trustees ...

Opposition in opposition: Labor responds

ELIZA BAVIN  |  TUESDAY, 6 OCT 2020
Opposition leader Anthony Albanese has unsurprisingly spoken out against the Morrison government's federal budget, saying it has failed to create much needed jobs. Taking to Twitter, Albanese said: "Being a leader means taking responsibility - in the ...

MySuper funds face new test, member bans

KANIKA SOOD  |  TUESDAY, 6 OCT 2020
Any MySuper products that fail a new APRA-administered annual test twice in a row will not be allowed to receive any new members until they improve their performance. The prudential regulator will conduct benchmarking tests on the net investment performance ...

FASEA releases more Code of Ethics guidance

ELIZABETH MCARTHUR  |  TUESDAY, 6 OCT 2020
FASEA has released a draft Financial Planners & Advisers Code of Ethics 2019 Guide for consultation. The draft is intended to provide an explanation of the application of the code. "The Code of Ethics provides an ethical framework of values and standards ...

ANZ fined $10m

ELIZABETH MCARTHUR  |  FRIDAY, 2 OCT 2020
ANZ will pay $10 million in penalties for unconscionable conduct after the Federal Court found it breached its obligations as a financial services licensee. Between August 2003 and September 2015, it was found ANZ charged certain fees to personal and ...

Trustees cutting corners: Rowell

KARREN VERGARA  |  FRIDAY, 2 OCT 2020
The prudential regulator has lambasted superannuation funds for not taking underperformance seriously and failing to compare themselves accurately against their peers. APRA deputy chair Helen Rowell said that many superannuation funds are overlooking ...

Adviser charged with stealing super

ELIZABETH MCARTHUR  |  FRIDAY, 2 OCT 2020
A West Australian financial adviser who has worked across some of Australia's largest licensees could face 15 years in jail after being charged with four counts of dishonest conduct in relation to hardship superannuation requests. Rahul Goel is ...

Ratings deteriorate at AMP

ALLY SELBY  |  FRIDAY, 2 OCT 2020
AMP has suffered a further blow this week, after Moody's downgraded its ratings of the embattled wealth management giant. The ratings house lowered its ratings on AMP Group Holdings, AMP Group Finance Services and AMP Bank from A3 to Baa2. However ...

Waislitz pokes holes in OneVue bid

KANIKA SOOD  |  THURSDAY, 1 OCT 2020
Alex Waislitz is running a fine-toothed comb over the independent valuation OneVue board cited in endorsing Iress's 43 cents per share bid to acquire the company. His Thorney companies have 18.35% interest in OVH, have already voted against accepting ...