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Showing 2541 - 2550 of 6884 results for "Act2"

ASIC wins appeal against Westpac companies

KANIKA SOOD  |  MONDAY, 28 OCT 2019
In a fresh blow to Westpac, the Federal Court this morning delivered the corporate regulator a win in its appeal against a previous ruling on Westpac's telephone campaigns. The full court this morning said ASIC's appeal will be allowed with ...

Industry fund awards admin mandate

HARRISON WORLEY  |  MONDAY, 28 OCT 2019
Australia's largest open defined benefit superannuation fund awarded an administration technology mandate to IRESS. ESSSuper has signed an agreement with IRESS which will see the technology firm install an automated administration service - Automated ...

Chief economist update: Is the A$ becoming a safe-haven currency?

BENJAMIN ONG  |  MONDAY, 28 OCT 2019
As Glum (of Gulliver's Travels fame) puts it; "We're doomed, we'll never make it!" Speculation that the Reserve Bank of Australia (RBA) may have to take the official cash rate to zero or even negative and/or start printing Australian dollars ...

IOOF struck by outflows, former chair resigns

ELIZA BAVIN  |  FRIDAY, 25 OCT 2019
IOOF has reported $133 million in quarterly net outflows from its financial advice and investment management businesses for the 3 months to 30 September. The Financial Advice division had $33 million of net inflows compared to $119 million of net inflows ...

VicSuper hits sustainability target early

HARRISON WORLEY  |  THURSDAY, 24 OCT 2019
The $24 billion superannuation fund has hit its target to deliver $3 billion in sustainable outcomes a year ahead of schedule. Releasing its annual report earlier this week, VicSuper revealed it reached the "ambitious" target - which represents about ...

AFA calls for clarity on ethics code

ELIZABETH MCARTHUR  |  WEDNESDAY, 23 OCT 2019
The Association of Financial Advisers (AFA) has called for more clarification and key changes on the Financial Adviser Standards and Ethics Authority code of the ethics. FASEA released its first guidance on the code, which will come into effect next ...

Whistleblower calls out approved product lies

ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2019
A new paper on the consumer impact of Approved Product Lists (APLs) claims institutionally-aligned Australian Financial Services Licensees (AFSLs) are funneling new clients into in-house products, potentially in breach of Best Interest Duty obligations. ...

Colonial First State hit with second class action in less than a week

ELIZA BAVIN  |  MONDAY, 21 OCT 2019
Slater and Gordon has filed a second class action against Colonial First State for allegedly charging excessive superannuation fees to fund outgoing commissions paid to financial advisers. The class action is on behalf over 500,000 Australians and is ...

APRA won't appeal IOOF judgement

ELIZA BAVIN  |  FRIDAY, 18 OCT 2019
The Australian Prudential Regulation Authority will not appeal the Federal Court decision to dismiss its court action against IOOF. The case related to the management of conflicts of interest, the appropriate use of superannuation fund reserves and ...

AustralianSuper rules out SMSF options

KANIKA SOOD  |  THURSDAY, 17 OCT 2019
AustralianSuper chief executive Ian Silk said the $170 billion superannuation fund will not open its investment options to self-managed-superannuation, unlike HostPlus which made the move in June. The $43 billion HostPlus opened up some of its options ...