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Showing 211 - 220 of 803 results for "Judge"

Results out: 13 funds fail YFYS performance test

KANIKA SOOD  |  TUESDAY, 31 AUG 2021
Big names like Colonial First State's FirstChoice, BT Super and Christian Super are among the 13 superannuation funds that failed APRA's inaugural performance test. In all, APRA tested 76 MySuper products in this round, of which 13 failed. This ...

NAB fined $18.5m over misleading fee disclosure

JAMIE WILLIAMSON  |  THURSDAY, 26 AUG 2021
... of $18.5 million and cover ASIC's costs. The regulator was pushing for a penalty of $40 million to be imposed but the judge, Justice Davies, determined this was excessive, in part because she did not believe NAB committed some of the contraventions ...

Westpac cops $10.5m fine

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
... Act when recommending customers rollover of superannuation accounts to Westpac/BT products. However, Westpac won as the judge said ASIC failed to prove the phone calls constituted personal financial advice. ASIC appealed this decision in the Federal ...

Tidswell agrees it contravened Corps Act

KANIKA SOOD  |  THURSDAY, 29 JUL 2021
Tidswell has surrendered its RSE licence to APRA, as it agrees to ASIC's allegations it contravened the Corporations Act in its work for startup super fund MobiSuper. In N ovember 2019, ASIC filed a case against MobiSuper, Andrew Richard Grover ...

SMSF fraudster loses appeal

ANNABELLE DICKSON  |  FRIDAY, 23 JUL 2021
... sentencing, Gore lodged an appeal which was heard in February 2021. "The Court of Appeal found it was open to the trial judge to convict on the six counts of fraud and that the evidence demonstrated Mr Gore had continued to secure funds from the investors ...

Chief economist update: UK not there yet

BENJAMIN ONG  |  FRIDAY, 25 JUN 2021
Financial markets widely expected the Bank of England's (BOE) decision to keep current monetary policy settings unchanged at its June monetary policy committee meeting. "The MPC voted unanimously to maintain Bank Rate at 0.1%... and to maintain ...

Court orders new group definition in CBA advice class action

KANIKA SOOD  |  WEDNESDAY, 23 JUN 2021
... add a third applicant to the case, flesh out the applicants' fiduciary claims, and change the group definition. The judge wants the third applicant to be someone who paid the extra premiums personally rather than via their superannuation. "Second ...

AFA defends industry against Labor attack

KARREN VERGARA  |  MONDAY, 21 JUN 2021
The Association of Financial Advisers has slammed the Labor Party's attack on financial advisers, which paints the profession as dodgy and continues to rip-off consumers. AFA acting chief executive Phil Anderson is calling for an end to the "persecution" ...

Chief economist update: Anchoring the recovery

BENJAMIN ONG  |  TUESDAY, 15 JUN 2021
"We have to take the economy through the pandemic and into a recovery phase, which has now started. We need to really anchor the recovery. We always talk about inflation anchoring and we are not oblivious to that. But the recovery needs to be firm ...

How noise impacts trading performance

ELIZABETH MCARTHUR  |  WEDNESDAY, 2 JUN 2021
Did trading desks perform better or worse when they were forced to work from home last year? That is the question UNSW Business school researchers sought to answer. A study by UNSW Business School associate professors Elise Payzan-LeNestour and James ...