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Showing 221 - 230 of 979 results for "Financial System"

Design, distribution obligations guide released

KARREN VERGARA  |  FRIDAY, 11 DEC 2020
... initiatives over time," Chester said. She added that the new obligations are a "game changer" for the industry. The Financial System Inquiry recommended the obligations in 2014, finding that disclosure alone is unlikely to correct the effect of broader ...

ASIC consults on consumer remediation

ELIZABETH MCARTHUR  |  THURSDAY, 3 DEC 2020
... been confirmed that about $1.68 billion has been returned to consumers in relation to both finalised and ongoing financial system remediations. ASIC said it has seen some good practices by licensees but has also seen many remediations caused - or blown ...

Australian Sustainable Finance Initiative launches

RACHEL ALEMBAKIS  |  TUESDAY, 24 NOV 2020
... superannuation funds and other stakeholders has released an ambitious list of recommendations to transform Australia's financial system to sustainable outcomes. The Australian Sustainable Finance Initiative has released its final roadmap, outlining 37 ...

Why has ASIC still not got a chief executive?

KANIKA SOOD  |  THURSDAY, 19 NOV 2020
... appointed a chief executive equivalent role, despite a previous report's recommendation to do so. David Murray's Financial System Inquiry recommended the financial regulators undergo periodic capability reviews. As a part of this, ASIC's capability review ...

World largest asset owners increase ESG, AUM

ANNABELLE DICKSON  |  TUESDAY, 17 NOV 2020
... Urwin said the larger funds within the AO100 are also using universal owner strategies which aim to safeguard the financial system in conjunction with climate-related risks without sacrificing returns. "This is consistent with a new era of ESG - which ...

ASIC chair steps aside pending pay review

JAMIE WILLIAMSON, KANIKA SOOD, ELIZABETH MCARTHUR  |  FRIDAY, 23 OCT 2020
... means I need to act in the best interests of ASIC and its vital purpose to build a fair, honest and efficient financial system for all Australians." Labor MP Andrew Leigh asked what the rationale was behind Shipton stepping aside but not Crennan. Crennan ...

The Big Issue launches investment platform

KARREN VERGARA  |  FRIDAY, 16 OCT 2020
... an impact-investing platform, The Big Exchange, backed by investment management giants aiming to build a new financial system that makes a difference. The Big Issue Group in the UK, with the help of fund managers like Aberdeen Standard Investments, AllianceBernstein ...

Bravura to make $41m acquisition

ELIZA BAVIN  |  MONDAY, 12 OCT 2020
Bravura Solutions has announced the acquisition of a UK software company for $41.5 million. Bravura will acquire Delta Financial Systems for $41.5 million, complementing its core Sonata offering and broadening its products and services. Delta is a UK ...

FPA renews calls for advice definition changes

ANNABELLE DICKSON  |  THURSDAY, 8 OCT 2020
... unfamiliar with the concepts of general and personal advice. The report echoed the recommendations of the Murray Financial System Inquiry and the Productivity Commission reports which suggested the term 'general advice' is likely to lead to false expectations ...

RBA, ASIC provide CHESS guidance

ALLY SELBY  |  FRIDAY, 2 OCT 2020
... required to ensure that their services are provided in a fair and effective way. "ASIC believes the Australian financial system requires contemporary CS infrastructure that is efficient, resilient, reliable and scalable to meet existing and future needs ...