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Showing 291 - 300 of 3008 results for "Problem"

Spirit Super rectifies regulatory breach

ANDREW MCKEAN  |  TUESDAY, 30 MAY 2023
... it self-reported to regulators, saying it was a "technical breach". The fund said it then took measures to address the problem, including issuing a new PDS and new member guide and costs fact sheet in March this year. It also reviewed its processes to ...

No regrets: Hayne reflects on Royal Commission

KARREN VERGARA  |  TUESDAY, 30 MAY 2023
Nearly six years since the landmark Royal Commission, former High Court justice Kenneth Hayne stands by his recommendations that upended the banking and financial services sectors. Making a rare appearance at the International Congress of Actuaries ...

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
... review, the firm identified only a small number of impacted members and developed strategies to prevent recurrence of the problem. The AFCA report also highlighted issues in the investment and financial advice sectors, particularly concerning breaches ...

FAAA sounds alarm on no-consultation super reform

ANDREW MCKEAN  |  MONDAY, 22 MAY 2023
The Financial Advice Association Australia (FAAA) has criticised Treasury for neglecting to consult on draft Superannuation Performance Test reforms. FAAA chief executive Sarah Abood voiced concerns regarding the proposal and process of the Performance ...

Regulation, funding inhibits digital advice: Report

KARREN VERGARA  |  MONDAY, 22 MAY 2023
Several key risks are inhibiting digital advice providers from operating with confidence, a new report finds, one of which is the red tape that is preventing them from moving successfully forward. AMP's Digital financial advice market scan, together ...

Super fund blunder likely down to bad data: Podcast

CASSANDRA BALDINI  |  THURSDAY, 18 MAY 2023
... has tax implications on contributions, but I think real people out there know or care about that. So, you do have that problem as a starting point," he said. "You've got members with different names that are inconsistently inputted into forms, whether ...

Liverpool Partners invests in AI

CHLOE WALKER  |  TUESDAY, 16 MAY 2023
The Sydney-based private equity investor has acquired a majority stake in Australian hyper-automation and artificial intelligence consulting firm Simplyai. As part of the deal, former Seven Group Holdings group chief operating officer and Accenture ...

Packer donates $7m to mental health research

CHLOE WALKER  |  TUESDAY, 16 MAY 2023
The gift will accelerate mental health research and establish the James Packer Chair in Mood Disorders at the University of New South Wales (UNSW). The gift, jointly funded by Packer and The Packer Family Foundation, will see the professorial chair ...

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... are not complying, we expect strong transparent action from the funds and regulators. "It's important we fix this problem across the super system and getting funds to sort out intra-fund consolidation is the first step." QMV Legal managing partner ...

High super balance tax needs work: Podcast

CASSANDRA BALDINI  |  THURSDAY, 11 MAY 2023
In a new podcast, HLB Mann Judd wealth management partner Michael Hutton says the plan to double concessional tax rates on super balances over $3 million has many pain points. Speaking with Financial Standard, Hutton said he is not a fan of the proposal ...