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Showing 301 - 310 of 894 results for "Failing"

Multiple accounts already in sharp decline

ELIZABETH MCARTHUR  |  THURSDAY, 12 AUG 2021
... superannuation accounts - indicating the huge proportion of workers holding multiple accounts, accruing necessary fees and failing to optimise the compounding of their retirement savings. This number of accounts slowly declined over the years until 2019 ...

Final YFYS regulations out, government "backflips" on admin fees

KANIKA SOOD  |  MONDAY, 9 AUG 2021
... included the shorter time-horizon for administration fees that are included in the test, and softer wording in letters that failing funds must send to their members, according to Industry Super Australia (ISA). The bill passed the Parliament on June ...

Westpac tops fee-for-no-service misconduct

KARREN VERGARA  |  THURSDAY, 5 AUG 2021
Westpac tops the charts for fee-for-no-service misconduct at $578.4 million, according to the corporate regulator. More than 71,400 Westpac customers have been affected by its failings to provide ongoing financial advice services that was promised. ...

First YFYS performance test results weeks away

KANIKA SOOD  |  MONDAY, 2 AUG 2021
... round of assessments under the performance test, APRA will engage with RSE licensees considered to be at material risk of failing the test a second time to understand their plans to improve performance, and their contingency plans to deal with the implications ...

RI Advice failed oversight obligations: Court

KARREN VERGARA  |  MONDAY, 2 AUG 2021
... previously made declarations that Doyle had breached his best interests obligations by giving inappropriate advice and failing to put his clients' interests first. Doyle was an authorised representative of RI Advice between May 2013 and June 2016 ...

Companies failing harassment victims: ACSI

ELIZABETH MCARTHUR  |  THURSDAY, 22 JUL 2021
There are structural issues with the ways in which companies handle sexual harassment complaints which inherently discriminate against victims, the Australian Council of Superannuation Investors (ACSI) conference has heard. That was the message heard ...

Fund managers failing value assessments: FCA

KARREN VERGARA  |  THURSDAY, 8 JUL 2021
Active fund managers are falling short of delivering value to investors and justifying their fees, a review from the UK's financial services regulator reveals. A review of 18 fund managers between July 2020 and May 2021 by the Financial Conduct ...

How likely is a super fund to fail YFYS test?

JAMIE WILLIAMSON  |  WEDNESDAY, 7 JUL 2021
The average super fund has a 10-15% chance of failing the Your Future, Your Super performance test in any given eight-year period, but some may need to dive a little deeper to determine how at-risk they are, Willis Towers Watson says. Following analysis ...

Adviser slapped with four-year ban

KARREN VERGARA  |  MONDAY, 28 JUN 2021
... regulator. From 1 April 2021, ASIC banned Hobart-based Hannah Jennings from providing financial services for four years for failing to act in the best interests of clients. ASIC found Jennings failed to consider clients' relevant personal circumstances ...

AAT dismisses adviser ban appeal

KARREN VERGARA  |  THURSDAY, 17 JUN 2021
... matter for non-appearance. Between January 2011 and November 2012, ASIC found Hutchison misled or deceived his clients by failing to disclose that they were charged advice fees twice. He also misled and deceived RI Advice by failing to disclose that ...