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| | | ... clients. The AMP commissions and insurance class action was commenced in the Federal Court of Victoria against AMP Financial Planning (AMPFP), Charter Financial Planning (Charter), Hillross Financial Services (Hillross), AMP and Resolution Life Australasia ... |
| | | | Diversa Trustees said it will be "vigorously defending" ASIC's allegations about the role it played in moving $300 million of member money to the failed First Guardian Master Fund, arguing the managed investment scheme was "fraudulent." ASIC has ... |
| | | | ... less liquid or illiquid", and that underlying funds may have lock-in periods. ASIC is also suing Interprac Financial Planning for funnelling clients into Shield and First Guardian. On taking action against Diversa, ASIC deputy chair Sarah Court said ... |
| | | | ... strength". "Private demand drove all of the growth in our economy over the past year. The private sector recovery we've been planning for and preparing for is gathering pace," he said. "In just a year, annual private demand growth has lifted more than ... |
| | | | The number of Shield Master Fund and First Guardian Master Fund-related complaints lodged with the Australian Financial Complaints Authority (AFCA) has grown to 1659. AFCA said the latest figure represents the total as at December 3. AFCA did not provide ... |
| | | | Some 68% of candidates who sat the November sitting of the financial adviser exam passed, ASIC's results show. A total of 308 candidates undertook the exam, with 208 passing with flying colours. About three-quarters (75.6%) sat the exam for the first ... |
| | | | ... take better action for retirement. This is because preparedness takes time, with those who felt prepared having started planning 6.6 years ago. They now hold an average super balance of $438,000, compared to $177,000 for those that feel unprepared and ... |
| | | | The Australian Custodial Services Association (ASCA) has released a white paper examining the changing role and expectations of custodians within the financial services ecosystem. The New Custodian: Platform, Pioneer, Partner is informed by senior ACSA ... |
| | | | ... distributed and, when distributed through advisers, test the quality of their advice." Kirkland said the regulator was also planning to look at fees, margin structures and conflicts of interest in the management of wholesale private credit funds, with ... |
| | | | The Shield Master Fund (SMF) is expected to make a distribution to victims by selling a large portion of its listed equities portfolio, according to liquidators Alvarez & Marsal. Keystone Asset Management, which is the responsible entity for the Shield ... |
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