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Showing 2281 - 2290 of 8182 results for "Institutional"

State Street cops $125m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 3 JUL 2019
State Street has paid more than $125 million to settle charges for adding undisclosed markups on expenses related to the custody of client assets. In a settlement, State Street Bank and Trust Company has paid $125 million (USD88 million) after the Securities ...

APRA warns trustees on PYSP deadline breach

KARREN VERGARA  |  WEDNESDAY, 3 JUL 2019
APRA has warned trustees that failed to comply with the July 1 Protecting Your Superannuation Package deadline to inform the prudential regulator straight away. A trustee that breaches the PYSP legislation at the product level application or the fixed-term ...

Whistleblowers given new protection

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 JUL 2019
From July 1, whistleblowers who report misconduct about companies and company officers have more rights and stronger protections. The Corporations Act 2001 has been updated to better protect corporate whistleblowers by requiring their confidentiality ...

Investec scores ADI licence

KARREN VERGARA  |  TUESDAY, 2 JUL 2019
... leasing businesses. Investec said at the time the sale allowed it to focus on its core strengths of corporate and institutional banking, property funds management and investment banking. Samios said the new banking licence approval confirms that Investec ...

QSuper lowers balanced fund fees

KARREN VERGARA  |  TUESDAY, 2 JUL 2019
Members invested in QSuper's default balanced option will benefit from lower investment fees. In addition to the group insurance policy changes the $72 billion super fund introduced on July 1, investment fee changes have been rolled out. Investment ...

MLC Super updates TPD cover, premiums

KARREN VERGARA  |  TUESDAY, 2 JUL 2019
MLC Super has changed the way it assesses total and permanent disablement (TPD) claims for all working members from 1 July 2019. For members who have worked for 13 months before lodging a claim, MLC Super will determine if the member is unable to work ...

Super fund awards Aussie equity mandate

KARREN VERGARA  |  TUESDAY, 2 JUL 2019
A $43 billion superannuation scheme awarded a mandate worth more than $200 million to Omega Global Investors. State Super allocated the funds to Omega's smart beta-plus strategy, complementing its existing Australian equity portfolio. Omega joins ...

Super smashes best-performing salaries list

KARREN VERGARA  |  MONDAY, 1 JUL 2019
The superannuation industry recorded the highest salary boost of nearly 50% over the last eight years, job search engine website SEEK shows. Superannuation industry employees earned $98,796 on an annual, full-time basis on average, according to SEEK's ...

Super fund introduces further group insurance changes

KARREN VERGARA  |  MONDAY, 1 JUL 2019
A $15 billion superannuation fund is making several changes to its group insurance offering in addition to the July 1 changes, which will see some members pay more for cover. CareSuper is moving from a unit-based cover for standard death and TPD insurance ...

Industry funds consider $22bn merger

JAMIE WILLIAMSON  |  FRIDAY, 28 JUN 2019
Two industry superannuation funds are considering merging to create a $22 billion superannuation fund. MTAA Super and Tasplan have entered into a binding Memorandum of Understanding to investigate a possible merger that would see the creation of a $22 ...