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Showing 3041 - 3050 of 22130 results for "Tim"

Federal Reserve holds rates steady

ANDREW MCKEAN  |  THURSDAY, 15 JUN 2023
Despite persistently high inflation, the Federal Reserve has chosen to keep the current target range for the federal funds rate at 5-5.25%. The Federal Open Market Committee (FOMC) opted to hold the funds rate steady, citing the need to assess additional ...

OnePath fined over MySuper bungle

JAMIE WILLIAMSON  |  WEDNESDAY, 14 JUN 2023
Insignia Financial and OnePath Custodians will pay $1.5 million for failing to direct member contributions to a MySuper product. APRA has fined OnePath Custodians $1.46 million after it was made aware 125 default member contributions were not directed ...

Greg Combet steps down as IFM Investors, ISA chair

ANDREW MCKEAN  |  WEDNESDAY, 14 JUN 2023
IFM Investors and Industry Super Australia (ISA) chair Greg Combet has relinquished his role to head the government's new Net Zero Agency. Recognised for his expertise in government, investment, climate policy, and industrial relations, as well ...

King's birthday honours for industry executives

CHLOE WALKER  |  TUESDAY, 13 JUN 2023
High-profile Australian financial services leaders have been recognised in the King's Birthday honours list, with several receiving an Order of Australia. This year, former Macquarie managing director and Financial Regulator Assessment Authority ...

UBS completes landmark Credit Suisse acquisition

ANDREW MCKEAN  |  TUESDAY, 13 JUN 2023
Wealth management powerhouse UBS has completed its acquisition of Credit Suisse, marking the end of the largest banking deal since the 2008 Global Financial Crisis. UBS acquired the crisis-stricken Credit Suisse for US$3.2 billion, with support from ...

Hostplus closes infrastructure, property options

JAMIE WILLIAMSON  |  TUESDAY, 13 JUN 2023
Hostplus is closing its infrastructure and property investment options, redirecting roughly $300 million in assets to balanced options. At the same time, it's introducing six new investment options, two of which are indexed. The $100 billion industry ...

Treasury to scrap advice admin burdens, boosts intra-fund advice

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
The federal government will scrap a load of administrative burdens and give superannuation funds a larger role in making financial advice more affordable as it announces which out of the 22 Quality of Advice Review recommendations will become a reality ...

Treasury mandates APRA consider climate risks in duties

RACHEL ALEMBAKIS  |  FRIDAY, 9 JUN 2023
Treasury has released an updated statement of expectations for APRA which includes the adoption of climate reporting standards by super funds, banks and insurers. "For the first time, the government is explicit in requiring the regulator to consider ...

ETP investors struggle to pick winners

ANDREW MCKEAN  |  FRIDAY, 9 JUN 2023
Rainmaker Information research shows that investors in exchange-traded products (ETPs) have struggled to consistently beat market returns. The research analysed both money-weighted (MW) and time-weighted (TW) returns to determine investor performance. ...

Perth-based Ponzi scheme shut down by court

JAMIE WILLIAMSON  |  FRIDAY, 9 JUN 2023
... retirement savings of many individuals," Justice Jackson said. Meanwhile, ASIC executive director financial services enforcement Tim Mullaly said: "ASIC is actively engaging with industry and consumer advocacy groups to raise awareness about the risks ...