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Showing 201 - 210 of 1867 results for "Authority"

UK regulators propose framework for workplace pension schemes

ANDREW MCKEAN  |  FRIDAY, 9 AUG 2024
... likened to an "evolved version" of the APRA performance test. The joint framework, developed by the Financial Conduct Authority (FCA) in collaboration with the Department for Work and Pensions and the Pensions Regulator, would assess pension schemes ...

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
... he said. While AFSLs ultimately have the responsibility to pay the compensation, the Australian Financial Complaints Authority (AFCA) and the CSLR, in some cases, have had to rope in the PII. "We are sensitive to that, but it does reach a point where ...

Former wealth management chief ousted from financial services

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
... advised UGC clients to seek independent advice and consider lodging complaints with the Australian Financial Complaints Authority if they have concerns about the advice they received. Last June, ASIC obtained interim orders from the Federal Court to ...

BNP Paribas in talks to buy AXA Investment Managers

JAMIE WILLIAMSON  |  FRIDAY, 2 AUG 2024
... finalising the sale. Under the deal, AXA and BNP Paribas would agree a long-term partnership in which AXA retains full authority over product design, asset allocation and asset-liability management decisions. If approved in full, the transaction is expected ...

AFCA complaints surge in FY24

KARREN VERGARA  |  THURSDAY, 1 AUG 2024
The Australian Financial Complaints Authority (AFCA) received a record number of complaints in the 2024 financial year, jumping 9% to more than 105,000. Preliminary numbers show scam-related complaints drove the surge, together with motor vehicle insurance ...

Group insurance cheaper by 25%: Rainmaker

KARREN VERGARA  |  MONDAY, 15 JUL 2024
... for members under 30 years old. Group insurance continues to comprise a large chunk of Australian Financial Complaints Authority (AFCA) life insurance complaints. Between June and December 2023, some 247 individuals complained about group insurance-specific ...

AFCA caps Dixon claimants at 2773

KARREN VERGARA  |  FRIDAY, 12 JUL 2024
Total compensation for Dixon Advisory victims has reached $338.6 million as the Australian Financial Complaints Authority (AFCA) caps the total number of complainants at 2773. The Financial Advice Association Australia (FAAA) calculates that the financial ...

ASIC, APRA provide FAR update

ELIZA BAVIN  |  FRIDAY, 12 JUL 2024
The Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) have published new information to help insurers and superannuation trustees prepare for the commencement of the Financial Accountability ...

Committee calls for 'sick agency' ASIC to be split in half

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... the proposed structure, there would be either a chair or a chief executive as sole statutory appointee and accountable authority. It also said, "the appropriateness of the commission structure entirely should be explored." A legislated Code of Conduct ...

APRA: RSE licensees show 'common areas of weakness'

ELIZA BAVIN  |  FRIDAY, 28 JUN 2024
The Australian Prudential Regulation Authority (APRA) has issued a letter to all registrable superannuation entity (RSE) licensees sharing the initial observations from its targeted thematic review of the superannuation industry's preparedness for ...