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Showing 11 - 20 of 3774 results for "Accounts"

Large penalties against super funds are appropriate: ASIC

ELIZA BAVIN  |  THURSDAY, 29 MAY 2025
... up earlier this year after AustralianSuper was hit with a $27 million fine for dragging its feet on merging multiple accounts for members. At the time, ASIC was entitled to seek a significantly higher penalty of $140 million. ASIC later told the Senate ...

AMP super class action finally hits court

JAMIE WILLIAMSON  |  TUESDAY, 27 MAY 2025
... court, with a seven-week trial commencing today. Their case claims more than 2.5 million Australians with superannuation accounts with AMP were systematically overcharged between 2008 and 2020 - "especially those in uncompetitive, high fee products ...

Age-based super strategies could add thousands to retirement savings

ANDREW MCKEAN  |  THURSDAY, 22 MAY 2025
... industry's MySuper options, using Chant West data, over the five years to March 2025. It calculated that 14.5 million MySuper accounts would've achieved an average retirement savings uplift of 6.6% over the period if their investments had been aligned ...

Former director sentenced over 'test' trading accounts

MATTHEW WAI  |  THURSDAY, 22 MAY 2025
... April 2021, McCabe misled the investors by providing them with specific funds and access to foreign exchange trading accounts on a third-party platform. But in reality, investors were provided "test" trading accounts that "were not capable of placing ...

MLC Expand reduces fees

MATTHEW WAI  |  WEDNESDAY, 21 MAY 2025
... fees, representing a 25% reduction," MLC Expand chief executive Liz McCarthy said. These reductions will also benefit accounts in linked groups where balances are aggregated for fee purposes. McCarthy added the price reduction is a "perfect example" ...

Equip Super, TelstraSuper terminate merger plans

JAMIE WILLIAMSON  |  WEDNESDAY, 21 MAY 2025
... member growth, high member advocacy, and a growing retirement segment. As at December end, TelstraSuper had 97,420 member accounts, some 71,540 of which were active. The median account balance was $152,000 and the median member age was 53; close to 60% ...

Scrutiny, costs major hurdles to boosting IPOs

JAMIE WILLIAMSON  |  TUESDAY, 20 MAY 2025
... structure, saying the increase in disintermediation in markets and rise of exchange-traded funds and separately managed accounts may prove efficient for the wealth management industry and its clients - but it's less positive for listed companies. This ...

AFCA looks to expand jurisdiction over receiving banks in scams

MATTHEW WAI  |  TUESDAY, 20 MAY 2025
... ombudsman to meet its new authorisation condition that "enables AFCA to investigate and consider scams involving mule accounts and the actions of receiving banks in scam complaints." The change will supposedly provide greater fairness, transparency and ...

Zenith to farewell co-founder, managing director

JAMIE WILLIAMSON  |  TUESDAY, 20 MAY 2025
... "Both David and Jason have played an instrumental role in shaping the leading investment research, ratings and managed accounts business that exists today," Zenith said. "Their vision, leadership and hard work have helped build a strong foundation for ...

Former Sydney adviser sentenced to three years

MATTHEW WAI  |  MONDAY, 19 MAY 2025
... Management. Between July 2019 and January 2020, Valvo dishonestly obtained $110,000 from his clients' superannuation accounts. An ASIC investigation identified that Valvo submitted ad hoc adviser fee forms for 12 clients which purported to authorise ...