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Showing 11 - 20 of 292 results for "Ruling"

UK treasury provides guidance on local pension consolidation

MATT TOLEDO  |  FRIDAY, 30 MAY 2025
... dozen multi-employer defined contribution pension funds that collectively manage $822 billion (£392bn) in assets. The ruling Labour Party's Treasury wants to consolidate the LGPS funds from 86 to six "megafunds" to scale their investments. On Thursday ...

Industry funds feast, retail funds snack, corporate funds freefall

ANDREW MCKEAN  |  THURSDAY, 29 MAY 2025
... LifeStage Tracker 1984-1988. Interestingly, every top performing MySuper product was a lifecycle fund, with retail funds ruling the roost and a lone corporate fund squeezing into the top five. Over 10 years, however, industry funds kept a firm grip on ...

ASIC takes Block Earner case to High Court

ELIZA BAVIN  |  WEDNESDAY, 21 MAY 2025
... from lending specified crypto-assets, was not a financial product. ASIC said it is seeking to obtain the High Court's ruling on what falls within the definition of financial product and clarify when interest-earning products and products involving ...

Zurich fined over false and misleading statements

MATTHEW WAI  |  MONDAY, 19 MAY 2025
... not an admission of liability. Zurich has been contacted for a statement. The fine comes after the Federal Court's ruling of HCF Life Insurance at the beginning of the month - finding the insurer misled the public over a pre-existing condition term ...

ASIC cancels licence of Brite Advisors

ANDREW MCKEAN  |  MONDAY, 5 MAY 2025
... in April last year, can compensation eligible consumers up to $150,000 if a financial firm fails to comply with an AFCA ruling.

ASIC loses Block Earner case

KARREN VERGARA  |  WEDNESDAY, 23 APR 2025
... Block Earner acted honestly and not carelessly in offering the product sought legal advice beforehand. This is despite a ruling in February of the same year stating that Earner was operating as a managed investment scheme without a licence. On 9 July ...

Data centres 'major growth sector' for Australia: Report

MATTHEW WAI  |  WEDNESDAY, 9 APR 2025
... Meanwhile, the Australian data centre market has gained "significant" momentum, according to the report, linked to the recent US ruling that granted the country access to Nvidia AI chips. Now, as one of the four nations in APAC exempt from export restrictions ...

BUSSQ abandons appeal, concedes to licence conditions

ANDREW MCKEAN  |  THURSDAY, 13 MAR 2025
... last month and ordered the fund to cover APRA's costs, however, BUSSQ doubled down, lodging an appeal to challenge his ruling. Separately, as previously reported by Financial Standard, APRA is proposing changes to superannuation trustees, insurers ...

BUSSQ loses legal bid to overturn additional licence conditions

ANDREW MCKEAN  |  MONDAY, 3 FEB 2025
... Court rejected BUSSQ's judicial review application, upholding APRA's decision to impose the additional conditions. The ruling means BUSSQ must engage an independent expert to assess its processes for evaluating the fitness and propriety of its responsible ...

Crypto operator to fork out millions after court ruling

ANDREW MCKEAN  |  FRIDAY, 13 DEC 2024
Bit Trade, the operator of the Kraken Exchange in Australia, has been slapped with an $8 million fine for "unlawfully issuing a credit facility to more than 1100 customers." Bit Trade offered a "margin extension" product, which allowed payments to be ...