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Showing 2811 - 2820 of 10361 results for "Close"

More MySuper accounts close than open: APRA

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
Latest data from APRA shows more MySuper accounts closed in the last financial year than were opened. According to APRA's annual MySuper statistics, about 2,151,403 new MySuper accounts were created in the 2018/19 financial year. However, about 2,189,859 ...

YouTube fundie name erased from flagship

ELIZABETH MCARTHUR  |  TUESDAY, 17 DEC 2019
The star UK fund manager who infamously took to YouTube to issue a heartfelt apology for his fund being suspended, has had his name erased from his flagship trust as investment responsibilities are transferred to another manager. The Woodford Patient ...

Responsible entity declares insolvency

JAMIE WILLIAMSON  |  TUESDAY, 17 DEC 2019
... Corporate Services as investment manager or manage conflicts of interest. While the defective PDSs were in use, the trust raised close to $17 million from retail investors.

APRA joins in on Westpac scrutiny

ELIZA BAVIN  |  TUESDAY, 17 DEC 2019
APRA has launched a formal investigation into Westpac for possible breaches of the Banking Act. The prudential regulator said the investigation will focus on the conduct that led to AUSTRAC launching its criminal charges against the bank over an alleged ...

Half of all AFSL applications approved

ELIZABETH MCARTHUR  |  MONDAY, 16 DEC 2019
ASIC revealed just 53% of AFSL applications received this year were approved. ASIC received approximately 2491 applications in 2018-2019 - 64% of AFS licences, 27% for credit licences and 9% relating to professional auditor registrations. In the report ...

J.P. Morgan secures mandate extension

ELIZA BAVIN  |  MONDAY, 16 DEC 2019
A $12 billion industry superannuation fund has signed a five year contract extension with J.P. Morgan to continue its custody services mandate, after a formal open-market tender process. Local Government Super said significant growth and structural ...

CBA underpayments reach $53 million

ELIZA BAVIN  |  MONDAY, 16 DEC 2019
The Commonwealth Bank of Australia will commence payments of a further $14.9 million as employee underpayments surpass $53 million. The bank said it has notified and repaid approximately 41,000 current and former employees, leave balances have been ...

MLC Wealth in advice leadership reshuffle

HARRISON WORLEY  |  FRIDAY, 13 DEC 2019
... the departure of advice general manager Ross Barnwell, who has decided to bring his seven year career with the firm to a close. According to an internal email, MLC Wealth general manager of wealth distribution Geoff Rogers will step into the role vacated ...

APRA slaps extra conditions on Avanteos

HARRISON WORLEY  |  WEDNESDAY, 11 DEC 2019
The prudential regulator has hit Colonial First State's Avanteos Investments with additional licence conditions for charging fees to thousands of dead superannuation members. The firm, which holds a Registrable Superannuation Entity license, charged ...

Thousands exit Westpac raise

HARRISON WORLEY  |  WEDNESDAY, 11 DEC 2019
More than 3300 Westpac investors decided to exit the bank's recent share placement plan, taking close to $70 million with them. Westpac has smashed through its target of $500 million on its way to raising $770 million of investor capital, and the big ...