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Showing 2461 - 2470 of 6884 results for "Act2"

ANZ overcharges 3.4 million customers

ALLY SELBY  |  THURSDAY, 19 DEC 2019
ANZ is the latest of the big four to be hit by the banking blues - identifying 3.4 million customers who have been overcharged as the bank swiftly makes good on recommendations from the Hayne Royal Commission. ANZ chief executive Shayne Elliot told ...

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
Westpac has been ordered by the Federal Court of Australia to pay $9.15 million over poor financial advice provided by just one former adviser. The court case relates to poor financial advice provided by Sudhir Sinha which breached the best interest ...

18 misconceptions about FASEA code

ELIZABETH MCARTHUR  |  THURSDAY, 19 DEC 2019
An education provider has outlined 18 common misconceptions relating to the Financial Adviser Standards and Ethics Authority Code of Ethics, which comes into effect on January 1. Roger Patterson, whose company Blue Path provides FASEA exam preparation ...

TAL loses group insurance mandate

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... under the Insurance Contracts Act. ASIC is seeking civil penalties for TAL's alleged breach of section 12DB of the ASIC Act - which attracts a maximum penalty of 10,000 penalty units or $1.7 million.

Chief economist update: Stock rally heralds 2020 cheer

BENJAMIN ONG  |  THURSDAY, 19 DEC 2019
... government pledged increased fiscal stimulus and the Bank of Japan (BOJ) may have done nothing all year but it promised to act (if it becomes necessary). Even our very own Reserve Bank of Australia (RBA) cut the official cash rate three time this year ...

No joy in the advice world this Christmas

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 DEC 2019
Frustration and despair will be the main course for financial advisers this Christmas, says financial services veteran. The Christmas season may potentially be the catalyst for action by exhausted advisers who are feeling physically, financially and ...

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
ASIC has launched civil penalty proceedings against NAB in the Federal Court over fees-for-no-service, which the bank continued to charge after the Royal Commission. The corporate regulator is seeking to find NAB made several thousand contraventions ...

APRA joins in on Westpac scrutiny

ELIZA BAVIN  |  TUESDAY, 17 DEC 2019
... identified. "The investigation will examine whether Westpac, its directors and/or its senior managers breached the Banking Act - including the Banking Executive Accountability Regime (BEAR) - or contravened APRA's prudential standards," the regulator ...

ASIC takes action against TAL over RC case

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... under the Insurance Contracts Act. ASIC is seeking civil penalties for TAL's alleged breach of section 12DB of the ASIC Act - which attracts a maximum penalty of 10,000 penalty units or $1.7 million. This is in addition to "declarations" in relation ...

Super sector to dominate by 2034

ALLY SELBY  |  MONDAY, 16 DEC 2019
The superannuation industry will undergo profound changes that will see it grow to become a $7 trillion market ($4.8 trillion in today's dollars) by 2034. But it's not all good news for the retail sector. That's according to the latest report from actuary ...