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Showing 291 - 300 of 566 results for "Civil"

Westpac takes $1 billion profit hit

ELIZA BAVIN  |  THURSDAY, 24 OCT 2019
... AUSTRAC in relation to these matters," the bank said in its release. "Any enforcement action against Westpac may include civil penalty proceedings and result in the payment of a significant financial penalty, which Westpac is currently unable to reliably ...

BlackRock Australia rejigs multi-asset range

KANIKA SOOD  |  THURSDAY, 10 OCT 2019
Two popular multi-asset funds from BlackRock Australia are getting an ESG makeover, effective end of this month. BlackRock kicked off its "Scientific Diversified" range over 20 years ago, and currently offers them in stable and growth versions. They ...

Chief economist update: The fear of Brexit

BENJAMIN ONG  |  THURSDAY, 29 AUG 2019
... Yellowhammer" analysis talks of possible shortages of fresh food, medicine and petrol, disruption to ports and the risk of civil unrest, especially in Northern Ireland, where trade across the border could be severely hampered. Manufacturers fret about ...

Treasurer moves on broker remuneration

ELIZABETH MCARTHUR  |  TUESDAY, 27 AUG 2019
... brokers be required to act in the best interests of the consumer and that any breach of that duty should be subject to a civil penalty. The latest announcement comes after the Morrison Government released its roadmap for implementing Commissioner Hayne's ...

Super sector needs to end culture war

KRISTI CHENG  |  FRIDAY, 16 AUG 2019
... his pre-parliamentary career as a policy adviser for the Financial Services Council, he said his participation in this "civil war" was "unproductive" compared with focusing on outcomes for savers. He also lamented the influence unions have over the industry ...

BlackRock partners with $23bn super fund

HARRISON WORLEY  |  MONDAY, 5 AUG 2019
BlackRock partnered with a $23 billion superannuation fund to develop an ESG-focused global bond index fund. VicSuper has again partnered with the global fund manager, this time to develop a global bond index fund similar to the ESG Australian Bond ...

ASIC warns trustees on employer inducements

KARREN VERGARA  |  THURSDAY, 1 AUG 2019
... Superannuation Measures No 1) Bill 2019, which passed on April 4. ASIC Commissioner Danielle Press said the recent amendments mean civil and criminal penalties can be imposed on trustees that don't comply with the law. If a court finds that a trustee ...

Industry super fund discounts investment fees

KARREN VERGARA  |  TUESDAY, 30 JUL 2019
... financial wellbeing - low fees is a key part of this strategy." Once the industry fund for Airservices Australia and the Civil Aviation Safety Authority (CASA) employees and former employees, AvSuper opened to the public on 1 July 2005. It currently ...

Portfolio manager caught out faking returns

KANIKA SOOD  |  FRIDAY, 19 JUL 2019
... to apply for re-entry after three years, disgorgement of ill-gotten gains of US $600,000 plus prejudgment interest and a civil penalty of US $100,000. Concurrent to SEC action, the Commodity Futures Trading Commission (CFTC) also entered a consent order ...

ASIC slams consumer credit failures

HARRISON WORLEY  |  FRIDAY, 12 JUL 2019
... intervention power where we see a risk of significant consumer detriment," Hughes said. "We also will not hesitate to pursue civil penalties where there has been a failure by any lender or insurer to act efficiently, honestly and fairly. All options ...