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Showing 301 - 310 of 561 results for "CEA"

Government should intervene in BOLR changes: Opposition

JAMIE WILLIAMSON  |  FRIDAY, 23 AUG 2019
The NSW shadow minister for finance and small business has asked what the state government is doing for advisers facing financial ruin as a result of AMP's plan to change Buyer of Last Resort terms. Speaking in NSW parliament earlier this week ...

Government super fund changes insurance terms, premiums

KARREN VERGARA  |  TUESDAY, 20 AUG 2019
A $29 billion government superannuation fund is making several changes to its premiums and policy terms following negotiations with its insurer AIA Australia. From 1 October 2019, members of GESB Super and West State Super will see changes to their ...

Advisers to bear brunt of AMP failings

JAMIE WILLIAMSON  |  FRIDAY, 9 AUG 2019
AMP advisers planning to exercise their Buyer of Last Resort (BOLR) arrangements look set to have their business valuations slashed as part of the institution's new strategy. AMP chief executive Francesco De Ferrari said the group will look to recalculate ...

Financial Wisdom to shut down

JAMIE WILLIAMSON  |  WEDNESDAY, 7 AUG 2019
Commonwealth Bank has confirmed it will close Financial Wisdom. It will also allow Pathways advisers to commence transitioning elsewhere. Releasing its full year results today, the bank has confirmed it will commence the assisted closure of Financial ...

Advice resilient under pressure: Research

ELIZABETH MCARTHUR  |  THURSDAY, 1 AUG 2019
Just 11% of financial advisers plan to leave the industry if the full recommendations from the Royal Commission are implemented. However, data shows the industry's outlook as a whole remains positive. This is a key finding from Investment Trends' 2019 ...

ATO clarifies SMSF death benefit income streams

KARREN VERGARA  |  MONDAY, 22 JUL 2019
The Australian Tax Office has released a new explanatory note on death benefit income streams, which a self-managed superannuation fund specialist has labelled as "confusing". The ATO said SMSFs recently raised a number of questions around the interaction ...

Portfolio manager caught out faking returns

KANIKA SOOD  |  FRIDAY, 19 JUL 2019
A portfolio manager artificially inflated a fund's returns and collected a large bonus on the back of it, the US corporate regulator alleged. New Jersey-based portfolio manager and trader Swapnil Rege was employed by a company referred to as Fund Adviser ...

Adviser association rebrands, grows membership

KARREN VERGARA  |  THURSDAY, 18 JUL 2019
The United Financial Advisers Association has re-emerged to grow its membership to 2500 advocating for several reforms in the advice sector. Formerly known as the Life Insurance Customer Group, UFAA recently rebranded and decided to cease lobbying for ...

State Street cops $125m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 3 JUL 2019
State Street has paid more than $125 million to settle charges for adding undisclosed markups on expenses related to the custody of client assets. In a settlement, State Street Bank and Trust Company has paid $125 million (USD88 million) after the Securities ...

Sovereign wealth fund revokes exclusions

JAMIE WILLIAMSON  |  FRIDAY, 28 JUN 2019
The Norwegian sovereign wealth fund has revoked its decision to exclude Rio Tinto from its investments. Norges Bank has repealed exclusions placed on five international organisations over the last 15 years, Rio Tinto among them. The fund will also now ...