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Showing 2081 - 2090 of 5260 results for "SCA"

Westpac settles two class actions

KARREN VERGARA  |  FRIDAY, 30 OCT 2020
Westpac has agreed to settle two separate class actions relating to anti-money laundering breaches and rate rigging initiated in the US for undisclosed amounts. The bank settled the action filed by Rosen Law Firm relating to its failure to monitor financial ...

IOOF appoints executive, continues growth push

ELIZA BAVIN  |  THURSDAY, 29 OCT 2020
IOOF has announced the creation of a new executive role as it reports funds under management, advice and administration grew by $529 million in Q1 2021. IOOF chief executive Renato Mota has announced the appointment of a chief transformation officer ...

ASX delays CHESS replacement again

KARREN VERGARA  |  WEDNESDAY, 28 OCT 2020
The Australian Stock Exchange has pushed back the CHESS replacement date by another year to April 2023. The ASX announced it has increased the scope of the project as a result of COVID-19 following industry consultation. Many stakeholders the ASX consulted ...

HUB24 to acquire Xplore, offloads Paragem

ELIZA BAVIN  |  WEDNESDAY, 28 OCT 2020
HUB24 announced a series of significant transactions, including plans to acquire Xplore Wealth and the sale of its financial advice business. Paying $60 million for Xplore, the platform provider said the proposed acquisition through a scheme of arrangement ...

Federal Court freezes investment scam, winds up SMSF operator

ANNABELLE DICKSON  |  TUESDAY, 27 OCT 2020
The Federal Court has frozen the funds of a suspected investment scammer and ordered the winding up of two unlicensed financial services businesses, upon referral from the Australian Securities and Investments Commission (ASIC). The Federal Court has ...

Aware Super in-houses fund administration

KANIKA SOOD  |  TUESDAY, 27 OCT 2020
Aware Super is implementing a new suite of technology products that will allow it to in-source member experience, including administration, so far done by Mercer. The fund signed a long-term contract with Bravura, for an initial term of seven years. ...

Westpac hit with $1.2bn of losses

KARREN VERGARA  |  MONDAY, 26 OCT 2020
Westpac will be hit with $1.2 billion worth of losses mostly driven by its life insurance business and AUSTRAC penalties. The bank flagged the massive loss ahead of releasing its full year 2020 results on November 2. Goodwill and intangibles associated ...

AustralianSuper ratings slide at Morningstar

KANIKA SOOD  |  FRIDAY, 23 OCT 2020
AustralianSuper is the latest casualty in Morningstar's ratings rejig, as three options with nearly 86% of its total $180 billion slide to the lowest analyst rating of "bronze". The superannuation fund's $135 billion balanced option, $13.5 billion high ...

Hostplus invests in vegan meat, sustainability

ANNABELLE DICKSON  |  THURSDAY, 22 OCT 2020
Hostplus has ramped up its private equity investments with a commitment of over $1 billion across projects that tackle climate change including a meat alternative. The $48 billion industry fund's annual report outlined the investments in medical ...

AustralianSuper backs cobalt miner

KANIKA SOOD  |  WEDNESDAY, 21 OCT 2020
The industry fund was a cornerstone investor in an ASX-listed mining stock's $45 million equity raise. AustralianSuper invested $18.5 million in Jervois Mining, representing nearly 40% of the total raise. It bought at 20.5 cents per JRV share, which ...