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Showing 261 - 270 of 573 results for "CEA"

Embattled AMP sees wealth earnings dive

ELIZA BAVIN  |  THURSDAY, 13 AUG 2020
AMP has reported a near halving of its wealth management earnings and announced it is buying back Mitsubishi UFJ Trust and Banking Corporation 15% stake in AMP Capital. The embattled wealth manager has reported its first half underlying profit was $149 ...

Lazard dumps AMP shares

ELIZABETH MCARTHUR  |  TUESDAY, 4 AUG 2020
In a notice to the ASX, AMP said Lazard Asset Management has ceased being a substantial holder in the company. On June 30, Lazard sold more than 17 million shares in AMP worth over $29 million. In Lazard's June fund updates, AMP was among the top five ...

Another merger at First State Super

KANIKA SOOD  |  THURSDAY, 30 JUL 2020
First State Super and WA Super signed a memorandum of understanding and entered due diligence on March 4 this year. The funds are expected to finalise a merger by November 30. WA Super, the smaller of the two, will get low fees, greater investment options ...

Watchdog warns of celebrity-endorsed bitcoin scams

ALLY SELBY  |  THURSDAY, 30 JUL 2020
ASIC has uncovered several cryptocurrency scams using Australian celebrities, prominent news sites, and government agencies to reel in investors. Endorsements from celebrities and business figures such as Waleed Aly, Mike Baird, Celeste Barber, Andrew ...

Goldman chief faces backlash over DJ set

ALLY SELBY  |  TUESDAY, 28 JUL 2020
The chief executive of Goldman Sachs has copped criticism after he performed a DJ set to a crowd of over 2000 people in the Hamptons, as cases of COVID-19 in the US near 4.3 million. David Solomon, or DJ D-Sol, opened for electronic duo The Chainsmokers ...

UBS to cough up $14m over bond bungle

ALLY SELBY  |  THURSDAY, 23 JUL 2020
UBS will cough up more than $14 million (US$10 million) after the US Securities and Exchange Commission found it had violated rules giving retail investors priority in municipal bond offerings. According to the SEC, UBS improperly allocated bonds intended ...

Financial institution charged over Epstein scandal

ELIZA BAVIN  |  THURSDAY, 9 JUL 2020
The US Department of Financial Services (DFS) has hit Deutsche Bank with a US$150 million penalty for the bank's relationship with disgraced financier Jeffrey Epstein. This marks the first enforcement action by a regulator against a financial institution ...

QSuper culls comprehensive advice

KANIKA SOOD  |  FRIDAY, 3 JUL 2020
The $110 billion industry fund will stop offering comprehensive advice to new customers on July 6 and cut over 50 positions, as it sees demand for holistic advice fall. QSuper chief executive Michael Pennisi said the decision is based on several years ...

APRA heatmap sees members save on fees

JAMIE WILLIAMSON  |  TUESDAY, 30 JUN 2020
APRA analysis shows a significant proportion of MySuper members have been spared more than $100 million in fees in the last six months thanks to the introduction of its heatmap. Updating its MySuper heatmap to reflect changes in the fees charged, APRA ...

McMillan Shakespeare restructures operations

ALLY SELBY  |  MONDAY, 29 JUN 2020
The economic disruption of the COVID-19 pandemic has seen McMillan Shakespeare restructure its UK business and announce it will fork out $8 million to acquire the remaining stake in an Australian organisation. McMillan Shakespeare is a single source ...