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Showing 241 - 250 of 901 results for "SAR"

ANZ fined $900k over shares disclosure failure

CHLOE WALKER  |  MONDAY, 11 DEC 2023
The Federal Court has slapped ANZ with a $900,000 fine for breaching its continuous disclosure laws about eight years ago. In October, the court found the banking giant had contravened continuous disclosure laws by failing to tell the market its underwriters ...

RBA names new chief economist

ANDREW MCKEAN  |  FRIDAY, 8 DEC 2023
The Reserve Bank of Australia (RBA) has appointed a chief economist and assistant governor to lead its Economic Group, which comprises the Economic Analysis and Economic Research departments. Sarah Hunter assumes the position, taking over from Luci ...

QAR final response winds clock back, says FAAA

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
The Financial Advice Association Australasia (FAAA) is now rethinking its initial support of the government's response to the Quality of Advice Review (QAR), saying the latest proposals could "wind the clock back five years" on the industry. Today ...

FCA mulls capital requirements for firms giving bad advice

ANDREW MCKEAN  |  THURSDAY, 30 NOV 2023
The UK's Financial Conduct Authority (FCA) has proposed mandating personal investment firms, commonly known as investment advisers, to pre-emptively calculate and secure sufficient capital for potential redress liabilities. The financial regulator is ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
The Federal Court has imposed a $5 million penalty on OnePath Custodians for unlawfully deducting adviser service fees from members. According to court documents, the trustee made misleading representations about its right to continue charging fees ...

ASIC forced to pay James Mawhinney's legal costs

JAMIE WILLIAMSON  |  TUESDAY, 28 NOV 2023
ASIC has been ordered to pay the costs Mayfair 101 managing director James Mawhinney incurred during the regulator's failed attempt at bringing an expanded case against him. The order follows the Federal Court of Australia's decision last month to reject ...

Frontier restructures, promotes

ELIZABETH FRY  |  FRIDAY, 24 NOV 2023
Frontier Advisors has redesigned its research structure and promoted internal talent into a number of new roles including a new deputy research director. Responding to a shift in focus by its institutional investor client base, the asset consultant ...

Mercer fined $12m over advice failures

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
Mercer Financial Advice will pay $12 million after the Federal Court found it failed to meet some disclosure obligations and charged almost $5 million in fees to clients when it was not entitled to do so. Mercer admitted that, between July 2016 and ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
ASIC has accepted a court enforceable undertaking from iExtend Holdings Company (iExtend) after investigating concerns that it was operating without an AFSL. The undertaking also relates to iExi Pty Ltd, which trades as iExtend. Documents show the investigation ...

BNP Paribas acquires HSBC's hedge fund admin business

CHLOE WALKER  |  WEDNESDAY, 22 NOV 2023
... teams and will be offered to 25 clients globally. It will impact BNP Paribas' entities in several markets, including Hong Kong SAR, Singapore, Ireland, and Luxembourg. BNP Paribas said the proposed transfer of services is fully aligned to its integrated ...