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Showing 2551 - 2560 of 3920 results for "law"

Federal Court judgements contradictory on adviser liability

LAURA MILLAN  |  MONDAY, 7 JUL 2014
The Federal Court has issued two separate and contradictory judgements that cast a doubt over financial advisers' proportionate liability when facing client legal claims. Within less than one month, the Full Court of the Federal Court has judged the ...

ISA FoFA report sparks industry outrage

LAURA MILLAN  |  MONDAY, 7 JUL 2014
... can be traded." The FSC chief executive John Brogden accused ISA of misleading consumers and said that "the existing FoFA law along with the regulation introduced by the government on 30 June explicitly bans commissions on general advice." "The execution-only ...

CBA reaction too slow, too little, too late

LAURA MILLAN  |  FRIDAY, 4 JUL 2014
... Treasurer Joe Hockey said: "Clearly the Commonwealth Bank was just too slow to get to this point." Hockey, whose mother-in-law was one of the victims of a CBA rogue financial planner, said that "a lot of the anxiety could have been averted if they had ...

YBR Smarter Money returns 5.0% over June quarter

HARRY PAGE  |  THURSDAY, 3 JUL 2014
Yellow Brick Road Holdings' "active cash" fund, YBR Smarter Money (Smarter Money) has returned 5% per annum after all fund fees over the June quarter. Smarter Money is an "active cash" or short-term fixed-interest fund that invests in Australian deposits ...

Inquiry sees spike in demand for legal action against CBA

LAURA MILLAN  |  WEDNESDAY, 2 JUL 2014
Law firms working to start a class action against Commonwealth Bank's (CBA) financial planning businesses have seen a spike in the number of affected consumers willing to join the legal cause. Maurice Blackburn principal John Berrill and Shine Lawyers ...

FoFA future uncertain as Palmer threatens to join opposition

LAURA MILLAN  |  MONDAY, 30 JUN 2014
... 33 representatives in the new Senate, the Coalition needs six extra votes to approve the amendments to the financial advice law. But Labor and the Greens are opposing the bill, which means that the Coalition has to convince six out of the eight fringe ...

BNP Paribas board approves $9bn fine

AFP  |  MONDAY, 30 JUN 2014
BNP Paribas's board of directors has approved a settlement with US authorities to pay a record $US9 billion ($A9.74 billion) fine to avoid being tried for violating US embargoes. The agreement is due to be announced after markets close at the New York ...

Trio-linked fund manager jailed for 25 months

JAMES FERNYHOUGH  |  MONDAY, 30 JUN 2014
... "Gatekeepers, like directors, company officers, auditors, investment advisers and financial planners, who think they can flout the law, should think again."

James knows when

BENJAMIN ONG  |  FRIDAY, 27 JUN 2014
Jumpin' Jiminy Cricket Batman! The US Federal Reserve will begin to lift interest rates soon - that is, sooner than everyone in the planet expects. Bullard of bull (dropping?). Federal Reserve Bank of St. Louis President James Bullard said so in his ...

Senate inquiry reccommends Royal Commission into CBA

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
... of a cover up." It said that further investigations should aim to "identify any conduct that may amount to a breach of any law or professional standard." The report also asked for a review of all files of clients affected or likely to be affected by ...