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Showing 181 - 190 of 1369 results for "AFFECTED"

First Sentier axes investment units, AUM takes $14bn hit

KARREN VERGARA  |  TUESDAY, 23 APR 2024
... David Allen said. As a result of this, Allen said "we have made the difficult decision" to close the business units. Affected staff represent about 7% of FSI's Australian-based workforce while a smaller number impacted work in the UK and US. "While ...

Top 10% of households home to 15 times more wealth

JAMIE WILLIAMSON  |  FRIDAY, 19 APR 2024
... report from ACOSS and UNSW Sydney's Poverty and Inequality Partnership - titled Inequality in Australia 2024: Who is affected and how? - shows the average household wealth of Australia's highest 10% went from $2.8 million in 2003 to $5.2 million today. ...

ESSSuper faces class action threat over unpaid super

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
... much as $300,000. Gordon Legal partner James Naughton said there is "no time to waste" in seeking fair payments for the affected transport workers. "Time is of the essence; we are seeing workers who are delaying their retirement after fighting for years ...

FCA issues notices to Link Fund Solutions, Woodford

KARREN VERGARA  |  FRIDAY, 12 APR 2024
... its investigation and subsequent agreement from Link to settle the enforcement case and provide compensation to those affected. In a separate action, the FCA issued warning notices to fund manager Neil Woodford and WIM proposing to take action against ...

Majority comply with IDR reporting: ASIC

KARREN VERGARA  |  MONDAY, 18 MAR 2024
... understanding it is the first time most firms are engaging with the new reporting process. The latest round of submissions affected smaller firms. The first round, which took effect in early 2023, saw 97 firms that included banks and superannuation funds ...

Rest faces class action over IP premiums

CHLOE WALKER  |  MONDAY, 19 FEB 2024
... scheduled for May 10. According to Shine Lawyers' practice leader Hadi Boustani, up to 500,000 Rest members may be affected. "This was money down the drain for fund members who paid a premium for no benefit," Boustani said. "As a result, we're ...

Macquarie profits tumble; long-serving executive exits

ANDREW MCKEAN  |  TUESDAY, 13 FEB 2024
... dipped to $882.5 billion, a 1% decrease from the previous quarter. Public investments assets dropped 2% to $535.1 billion, affected by net outflows and adverse currency shifts, albeit cushioned by positive market trends. Conversely, private markets assets ...

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN  |  FRIDAY, 2 FEB 2024
... alleging failures to address multiple member accounts. The regulator allege round 90,000 AustralianSuper members were affected, costing members approximately $69 million in multiple sets of fees and insurance premiums and lost investment earnings on ...

AFCA amends consumer compensation caps

KARREN VERGARA  |  TUESDAY, 9 JAN 2024
... formal decision. Since launching, it has also worked with more than 16,500 victims of scams and more than 7500 people affected by natural disasters, excluding COVID-19.

Former adviser misled ASIC during investigation: Court

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... provide financial services; and is likely to contravene financial services law. ASIC believes that about 40 clients were affected and some $3.5 million invested was not approved by Shaw and Partners. He was banned from leaving the country in June. On ...