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Showing 2611 - 2620 of 21764 results for "Dec"

DASS compensation drags AFCA, lead decision published

KARREN VERGARA  |  FRIDAY, 16 FEB 2024
Compensating Dixon Advisory and Superannuation Services (DASS) victims continues to eat up the Australian Financial Complaints Authority's (AFCA) time and resources, so much so that a "lead decision" has been published to expedite the process. The complaints ...

ASIC files lawsuit against unlicensed director, companies

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2024
The corporate regulator filed a lawsuit against a Queensland man who allegedly deceived people he knew into handing over $100 million to invest in companies he owned without a financial services licence. ASIC commenced proceedings in the Federal Court ...

Bell Asset Management looks to exit RE services

JAMIE WILLIAMSON  |  THURSDAY, 15 FEB 2024
Bell Asset Management is calling for a shareholder vote to replace itself as responsible entity (RE) of three of its funds, saying it just wants to focus on managing investments. Bell Asset Management has asked investors in its Bell Global Equities ...

Magellan names Rahmani as new chief, reports NPAT lift

JAMIE WILLIAMSON  |  THURSDAY, 15 FEB 2024
Magellan Financial Group is hopeful new managing director Sophia Rahmani will help steady the ship, as it sharpens its focus on the US and reports a 24% increase in statutory net profit after tax despite plummeting funds under management (FUM). Currently ...

MDA authorisations remain steady amid exodus

JAMIE WILLIAMSON  |  WEDNESDAY, 14 FEB 2024
The number of financial advisers authorised to advise on managed discretionary accounts (MDAs) has dropped just 6.1% in the past three years, despite the total number of advisers falling much more. According to analysis by Rainmaker Information, there ...

AI poses potential challenge to financial stability: Gensler

ANDREW MCKEAN  |  WEDNESDAY, 14 FEB 2024
Artificial intelligence could threaten financial stability, forcing novel macro-prudential strategies, according to US Securities and Exchange Commission (SEC) chair Gary Gensler. In a speech at Yale Law School, Gensler described AI as having "tremendous ...

Dexus results mixed prior to Steinberg's exit

CHLOE WALKER  |  WEDNESDAY, 14 FEB 2024
The property giant recorded a net loss of $597.2 million, but also managed to secure $9 million in trading profits after tax for the six months to 31 December 2023. The external independent portfolio valuations for Dexus saw mixed results, with a total ...

Superannuation fund returns underperformed SMSFs: Research

ANDREW MCKEAN  |  WEDNESDAY, 14 FEB 2024
Investment returns for APRA-regulated superannuation funds lagged self-managed super funds (SMSFs) by 4.1% in the 2021-22 financial year, according to the University of Adelaide. During this period, while the S&P/ASX 200 index declined by more than ...

Jailed adviser permanently banned by ASIC

JAMIE WILLIAMSON  |  TUESDAY, 13 FEB 2024
A former financial adviser who was jailed for stealing more than $1 million from his clients' superannuation to feed a gambling problem is now permanently banned from the industry. In September 2023, Mark Raymond Sebo was found guilty of misappropriating ...

Fiducian reports strong first half, flags growth plans

JAMIE WILLIAMSON  |  TUESDAY, 13 FEB 2024
Fiducian reported a 10% increase in revenues and 18% jump in funds under management for the six months to December end, saying it's the result of a disciplined business plan. In its half-year update, Fiducian said its underlying net profit after tax ...