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Showing 2601 - 2610 of 9740 results for "Major"

Industry fund fined over independent advice claims

KARREN VERGARA  |  THURSDAY, 9 MAY 2019
A major industry superannuation fund has been forced to remove "independent" from its financial advice messaging and consequently slapped with a financial penalty issued by the corporate regulator. ASIC alleged Hostplus provided misleading claims to ...

Insurtechs improve life insurance inefficiencies: Report

KARREN VERGARA  |  THURSDAY, 9 MAY 2019
Life insurers are ramping up efforts to improve pricing and underwriting efficiencies with the help of startups to make it possible, a new insurtech study shows. The second annual EY and Insurtech Australia report found almost three-in-four (72%) insurtechs ...

Chief economist update: Same challenges, differing reactions

BENJAMIN ONG  |  THURSDAY, 9 MAY 2019
... the 2% mid-point; and support maximum sustainable employment." This is more or less the mandate targeted by every other major central bank around the world, including New Zealand's next door neighbour, Australia. But while the Reserve Bank of Australia ...

SMSF wind-ups spike: ATO

ELIZABETH MCARTHUR  |  THURSDAY, 9 MAY 2019
The number of self-managed superannuation fund (SMSF) wind-ups shot up in the last 12-24 months, according to Australian Tax Office data. Latest ATO data reveals in 2014 the number of SMSF wind-ups was 12,654 and hovered around that point, reaching ...

FCA begins financial advice market review

KARREN VERGARA  |  WEDNESDAY, 8 MAY 2019
... determine how well it is delivering on consumer outcomes. The Financial Conduct Authority is requesting feedback on its two major initiatives that sought to improve the distribution of retail financial services products. Its first initiative, called ...

TAL restructures retail arm, announces job cuts

KARREN VERGARA  |  TUESDAY, 7 MAY 2019
TAL is making major changes to its retail business that will make some jobs redundant after reviewing its recent acquisition of Asteron, Suncorp's Australian life insurance business. Realigning the retail businesses will consequently reduce headcount ...

The state of the banks

ELIZABETH MCARTHUR  |  TUESDAY, 7 MAY 2019
... analysis of the big banks' half year results, noting a continued decline in cash profits for the first half of 2019. The major Australian banks reported a combined cash profit after tax from continuing operations of $14.5 billion for the first half of ...

Financial advice drags BTFG results

KARREN VERGARA  |  MONDAY, 6 MAY 2019
... lower than the second half of 2018. The decline was due to the exit of Hastings ($180m), higher general insurance claims for major weather events ($66m), lower margins from the decision to reprice certain platform fees ($8m) and discontinuing grandfathered ...

Westpac profits down 24%, dividend flat

KANIKA SOOD  |  MONDAY, 6 MAY 2019
... significant cost savings by simplifying our bank," Hartzer said. BT Financial Group reported a loss of $305 million. This excludes major remediation and restructuring items ($620 million after tax), insurance claims and margin pressure related to platform ...

Lax regulation worsens lost super benefits: ISA

KARREN VERGARA  |  FRIDAY, 3 MAY 2019
Industry Super Australia is calling on major political parties ahead of the upcoming election to fix the Superannuation Guarantee loopholes costing workers $5.94 billion in super entitlements. A new report compiled by ISA citing 2016-17 financial year ...