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Showing 2411 - 2420 of 8182 results for "Institutional"

APRA amends member outcomes standard

KARREN VERGARA  |  THURSDAY, 2 MAY 2019
APRA has revised its member outcomes framework to complement the new Bill that passed in April and is now seeking consultation. Following the passage of Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures ...

ANZ boosts remediation team

HARRISON WORLEY  |  WEDNESDAY, 1 MAY 2019
... facing the sector the ANZ boss said the bank would take appropriate action despite the solid result, singling out the institutional banking business as a source of earnings diversification. "Institutional banking is performing well and positioned to ...

Industry funds announce $26bn joint venture

KANIKA SOOD  |  WEDNESDAY, 1 MAY 2019
Two industry superannuation funds have announced a joint venture that will create a $26 billion entity, aimed at delivering scale benefits to their combined 150,000 members. Equipsuper and Catholic Super have signed a memorandum of understanding to ...

APRA self-assesses shortcomings

KARREN VERGARA  |  WEDNESDAY, 1 MAY 2019
APRA is taking stock of its effectiveness since the 2013 Stronger Super reforms and flagged more improvements lay ahead for the superannuation sector. In a new information paper published yesterday, APRA said it aims to undertake a post-implementation ...

Admin change leaves super fund members in the dark

KARREN VERGARA  |  WEDNESDAY, 1 MAY 2019
Nearly a year after a $15 billion superannuation fund announced it was switching administrators, members have been left in the lurch with technical difficulties. Members of CareSuper have not been able to log into accounts, change options, turn insurance ...

Westpac reveals Magnitude, Securitor adviser remediation

HARRISON WORLEY  |  WEDNESDAY, 1 MAY 2019
Westpac is set to repay more than 30% of the ongoing advice service fees charged by authorised representatives of Magnitude and Securitor. Westpac announced it would take a $357 million hit to cash earnings in its first half result based on currently ...

Big banks forced to cut costs: Perennial Value

ELIZABETH MCARTHUR  |  WEDNESDAY, 1 MAY 2019
Despite a positive economic and regulatory outlook, Australia's big banks will look to cut costs as the fallout from the Royal Commission continues. That is the view of Perennial portfolio manager Andrew King, who said ongoing efforts to remediate customers ...

Super startup to relaunch

HARRISON WORLEY  |  TUESDAY, 30 APR 2019
In its third iteration, challenger superannuation offering Human Super will relaunch under a new name, almost two years after its initial attempt to enter the market. Human Super - a superannuation product designed specifically for women - will relaunch ...

Swiss Re to manage Freedom remediation

KANIKA SOOD  |  TUESDAY, 30 APR 2019
Swiss Re has agreed to take on the responsibility of designing and managing Freedom Insurance Group's customer remediation program. Freedom confirmed Swiss Re as the remediation manager, and Genus Life Insurance Services Pty Ltd as the third party to ...

CountPlus acquires stake in advice firm

KARREN VERGARA  |  TUESDAY, 30 APR 2019
... transaction. Prime Financial Group flagged last year that it will continue to wind down PWM, which was set up with an institutional partner to fund the acquisition of minority equity interests in accounting and wealth management firms. The remaining ...