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Showing 2841 - 2850 of 6884 results for "Act2"

IOOF braces for new super package, grandfathered commissions changes

KARREN VERGARA  |  TUESDAY, 19 FEB 2019
IOOF's bottom line will take a hit from the newly legislated Protecting Your Super package and the proposed removal of grandfathered commissions. Acting chief executive Renato Mota and chief financial officer David Coulter told an investor briefing ...

Netwealth to benefit from RC fallout

HARRISON WORLEY  |  MONDAY, 18 FEB 2019
The Royal Commission might have been harsh on some financial services providers, but Netwealth said it's poised to benefit. Informing the market of its half-yearly financial performance this morning, the platform provider said strong flows towards ...

ASIC appeals Westpac Federal Court decision

JAMIE WILLIAMSON  |  MONDAY, 18 FEB 2019
The corporate regulator is appealing last year's landmark Federal Court decision, determined to prove two Westpac subsidiaries provided personal financial advice despite not being licensed to do so. In December 2018, Justice Jacqueline Gleeson determined ...

Adviser asked to cover regulator costs

KANIKA SOOD  |  MONDAY, 18 FEB 2019
The Queensland Supreme Court has issued orders against a man who ran an unlicensed advice business and collected kickbacks on investment properties he recommended to his SMSF clients. Richard Gardner and Advanced Wealth Financial Services Pty Ltd (where ...

Government carves out super deal

HARRISON WORLEY  |  FRIDAY, 15 FEB 2019
The Government's signature superannuation legislation passed through the Senate, but not without victims. Last night the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018 passed the Senate after a deal was struck with the Greens ...

Perfect storm smashes AMP

HARRISON WORLEY  |  THURSDAY, 14 FEB 2019
AMP suffered a 97% profit drop in 2018 and it's flagging a reshaped financial advice network into 2019. AMP recorded statutory net profit of $28 million last year, but the result is worth 3% of its 2017 full-year profit of $848 million. Discussing ...

Chief economist update: Unchanged RBNZ stance would force it to change stance

BENJAMIN ONG  |  THURSDAY, 14 FEB 2019
"Despite the weaker global impetus, we expect low interest rates and government spending to support a pick-up in New Zealand's GDP growth over 2019. Low interest rates, and continued employment growth, should support household spending and business ...

Former Westpac GM joins APRA review

HARRISON WORLEY  |  WEDNESDAY, 13 FEB 2019
A former Westpac general manager and group executive will help lead APRA's capability review. Diane Smith-Gander has joined the three-person panel reviewing the prudential regulator, after the Government agreed to act on Kenneth Hayne's recommendation ...

Government moves on Royal Commission super recommendations

HARRISON WORLEY  |  WEDNESDAY, 13 FEB 2019
The Federal Government has amended the SIS Act and some of its superannuation bills to include recommendations made in the Royal Commission's final report. Superannuation fund trustees are set to be banned from treating employers in efforts to be ...

Chief economist update: UK economy slows on Brexit woes

BENJAMIN ONG  |  TUESDAY, 12 FEB 2019
When the Bank of England (BOE) decided to keep monetary policy settings unchanged following its February 7 monetary policy committee meeting, it acknowledged in its statement that: "UK economic growth slowed in late 2018 and appears to have weakened ...