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Showing 191 - 200 of 5663 results for "Money"

Openmarkets hit with largest ever MDP penalty

ANDREW MCKEAN  |  THURSDAY, 6 JUL 2023
... identify and implement necessary remedial actions to enhance the company's trade surveillance, client onboarding, and client money handling procedures. In response to these findings, Openmarkets said under a new leadership team, the company has transformed ...

AMP loses BOLR changes class action

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... valuations, confirming the group was looking into longstanding adviser contracts with a view to saving shareholders' money. In July 2020, the advisers filed the class action against AMPFP. At the time of filing, The Advisers Association (TAA) chief ...

Rising costs bite asset owners

KARREN VERGARA  |  MONDAY, 3 JUL 2023
... managers to their clients outside of the management fees," he said. "We still see real scope for investors to improve value for money, without compromising on strategic goals, in areas such as transaction cost analysis."

ASIC deepens investigation into Magnolia founder

KARREN VERGARA  |  FRIDAY, 30 JUN 2023
... extended the travel ban on Magnolia Capital's founder as he faces an ASIC investigation that alleges $40 million of investor money has gone missing. Mitchell Atkins, also the managing director and chief investment officer of Magnolia Capital, was prohibited ...

AUSTRAC drops action after Bell FG audit

CASSANDRA BALDINI  |  FRIDAY, 30 JUN 2023
... assess Bell Potter Securities, Bell Potter Capital and Third Party Platform regarding the entities' compliance with anti-money laundering laws. At the time, the auditor was instructed to report back to AUSTRAC in no less than 180 days after being ...

Performance test excluding retirement products is "crazy": Podcast

CASSANDRA BALDINI  |  THURSDAY, 29 JUN 2023
... to their superannuation savings, have the most savings at stake, and they're considering where they might put their money in the retirement phase," he said. "There is no performance test to ensure, for many people what might be hundreds of thousands ...

Dealer group adopts profit-for-purpose model

CHLOE WALKER  |  THURSDAY, 29 JUN 2023
... to financial literacy education." "We're in a unique position to shift perceptions and reframe society's view of money to be well beyond just the fortunate few," Coloretti said. The Spark Legacy Program will also comprise of a charity fund, Spark ...

AustralianSuper names deputy chief investment officer

ANDREW MCKEAN  |  WEDNESDAY, 28 JUN 2023
... increasingly focussed on building its global operations and in-house investment capability, with around 75% of member's money expected to be managed by internal teams within a decade. "Damian will play a pivotal role in developing and implementing our ...

ASIC nudges trustees on member fund compliance

ANDREW MCKEAN  |  TUESDAY, 27 JUN 2023
... trustees. A recent review by ASIC revealed that most aren't meeting their legal responsibilities for managing incoming member money as per the Corporations Act 2001. According to the Act, trustees should hold funds in a compliant account until a new ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... funds and invoiced for advice that was not provided. The member is then charged thousands of dollars in fees to roll the money over, AIST said. Corporate regulator ASIC has been keeping a closer eye on financial services firms spruiking products since ...

Editor's Choice

Australian Retirement Trust people chief to depart

ELIZABETH FRY
Australian Retirement Trust has confirmed the departure of chief people officer Helen Jackson, who will leave at the end of the financial year.

SSGA loses $2.4bn in two months

KARREN VERGARA
State Street Global Advisors (SSGA) suffered $2.4 billion in net outflows over the last two months of 2023, the majority of which hit its Australian and international equities products.

AFCA seeks industry feedback on approaches

ELIZA BAVIN
The financial complaints authority is asking the industry for feedback on how it approaches issues and reaches decisions.

Apex, ACA partner to broaden client services

ANDREW MCKEAN
Apex Group and ACA Group have formed a partnership to offer their clients a wider range of services.

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Jason Huljich

JOINT CHIEF EXECUTIVE OFFICER
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A single decision can change your life, and that's exactly what Centuria Capital joint chief executive Jason Huljich learned when he came to Australia in the 1990s. Eliza Bavin writes.
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