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Showing 241 - 250 of 6126 results for "Day 8"

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
As the number of AFSL cancellations pile up due to the non-payment of Australian Financial Complaints Authority (AFCA) determinations, far too many financial services firms are taking advantage of the Compensation Scheme of Last Resort (CSLR), treating ...

AI no silver bullet for advice process, documentation: Experts

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
Financial advisers are increasingly looking to artificial intelligence (AI) to improve their processes and documentation, but experts warn they must exercise a degree of caution and ensure that anything it produces complies with regulation. A whopping ...

'New class of advisers' need clear-cut distinction: FAAA

KARREN VERGARA  |  THURSDAY, 28 NOV 2024
Professional reputations could be harmed if the government does not distinctly delineate between its proposed new class of advisers (NCAs) and financial advisers, the Financial Advice Association Australia (FAAA) warns in anticipation of the looming ...

HPI calls Hostplus, Charter Hall takeover 'cheap'

KARREN VERGARA  |  TUESDAY, 26 NOV 2024
Hostplus and Charter Hall have again extended their offer period to take over Hotel Property Investments (HPI), which pleaded with shareholders to reject the "cheap" and "half-empty" deal. HPI told shareholders that "$3.785 will be lucky to buy you ...

Former Western AM investment chief charged for 'cherry-picking'

MATTHEW WAI  |  TUESDAY, 26 NOV 2024
The Securities and Exchange Commission (SEC) has charged former Western Asset co-chief investment officer Ken Leech for "engaging in a multi-year scheme to allocate favourable trades to certain portfolios." The SEC alleges Leech engaged in the conduct ...

ATO recovers $900m in unpaid super

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2024
The Australian Taxation Office (ATO) recovered over $900 million in unpaid super owed to 800,000 employees in the past year. Latest compliance data from the ATO shows $932 million in previously unpaid superannuation reached the retirement accounts of ...

ASIC sues NAB for failing customers

ELIZA BAVIN  |  MONDAY, 18 NOV 2024
The Australian Securities and Investments Commission (ASIC) has filed proceedings against National Australia Bank (NAB) in the Federal Court. ASIC alleges NAB failed 345 of its customers at their most vulnerable when they applied for hardship support ...

Fair Work ruling, ASIC put offshoring arrangements on notice

KARREN VERGARA  |  THURSDAY, 14 NOV 2024
Fair Work Australia's (FWA) recent ruling in favour of a Philippines-based worker to bring an unfair dismissal case against the former employer could serve as a warning for financial services firms who rely on offshoring, as the corporate regulator ...

Insignia Financial eyes 'most efficient' title by 2030

JAMIE WILLIAMSON  |  WEDNESDAY, 13 NOV 2024
Insignia Financial is hoping artificial intelligence (AI) and a direct-to-consumer superannuation push will see it become Australia's "leading and most efficient" wealth manager and save $200 million per annum by 2030. Revealing its five-year strategy ...

Bragg calls for Cbus to front Senate

ELIZA BAVIN  |  WEDNESDAY, 13 NOV 2024
Senator Andrew Bragg has called on Cbus chief executive Kristian Fok to face a Senate inquiry over the recent legal proceedings launched by ASIC against the fund and the CFMEU scandal. "The reason that we're having a Senate inquiry in Canberra into ...