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Showing 171 - 180 of 522 results for "Powers"

Class action accuses NAB of super rip-off

ELIZABETH MCARTHUR  |  WEDNESDAY, 22 JAN 2020
... care, skill and diligence required of a prudent super trustee and that they did not perform their duties and exercise their powers in the best interest of beneficiaries. It also alleges that the trustees failed to give priority to the interests of beneficiaries ...

Chief economist update: The rise and fall of oil

BENJAMIN ONG  |  THURSDAY, 9 JAN 2020
... 15.3% (Brent) a couple of weeks after on easing tensions. Perhaps financial markets have learned their lesson. Perhaps the powers that are have done their sums and realised that war is a zero sum game. At the end of the day, oil prices respond to the ...

18 misconceptions about FASEA code

ELIZABETH MCARTHUR  |  THURSDAY, 19 DEC 2019
... Patterson said. FASEA's interpretation of the code is irrelevant because FASEA won't be enforcing the code: Separation of powers, he explained, does not lessen the relevance of FASEA. The code has too many areas of uncertainty: Patterson argues there ...

APRA joins in on Westpac scrutiny

ELIZA BAVIN  |  TUESDAY, 17 DEC 2019
... Financial Crime Program Review, which is currently underway. In launching an investigation, APRA is able exercise its legal powers that were strengthened following the 2017 CBA Prudential Inquiry. The APRA investigation will be conducted simultaneously ...

APRA slaps extra conditions on Avanteos

HARRISON WORLEY  |  WEDNESDAY, 11 DEC 2019
... inquiries raise additional matters of prudential concern." In this instance, APRA is unable to wield its new civil penalty powers under the SIS Act because of the historic nature of the conduct. Avanteos self-reported its breaches to APRA in May 2018 ...

Enforcement appetite is working: APRA

ELIZA BAVIN  |  MONDAY, 2 DEC 2019
... reductions in costs and, in some cases, changes of trustee as a result," he said. "However, when coupled with new regulatory powers and penalties provided by the Parliament earlier this year, our heat map means APRA is now much more well-equipped to ...

Grandfathering phase out tussle continues

ELIZABETH MCARTHUR  |  FRIDAY, 22 NOV 2019
... from the government and feel they must cooperate or face consequences," Johnston said. He said ASIC's new intervention powers are allowing the regulator to apply pressure on the issue. "Unfortunately these new welcomed intervention powers ASIC now has ...

ASIC eyes claims handling

ELIZABETH MCARTHUR  |  TUESDAY, 19 NOV 2019
... power in regards to claims handling," Curtis said. "We will be looking closely at claims processes as we get these new powers."

No pat on the back for high performers: APRA

HARRISON WORLEY  |  FRIDAY, 15 NOV 2019
... cases," Rowell said. "Over the net year you can expect to see APRA increasingly prepare to judiciously apply all of its powers, including its new directions power and imposition of additional licence conditions, to achieve change where needed." Rowell ...

Trustee firm, super fund in hot water

JAMIE WILLIAMSON  |  WEDNESDAY, 6 NOV 2019
... said. "APRA has supported ASIC with its investigation and has provided ASIC with a delegation of certain functions and powers under the SIS Act in relation to Tidswell in order to achieve appropriate regulatory outcomes," the regulator said. "ASIC and ...