Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 3191 - 3200 of 14212 results for "Interest"

CBA to pay $7m for overcharged interest

ANNABELLE DICKSON  |  THURSDAY, 8 APR 2021
The Federal Court has imposed a $7 million penalty on Commonwealth Bank for charging higher interest rates on business overdraft accounts than what it advised its customers over a four-year period. Following an investigation by ASIC, CBA admitted to ...

"Financial" in BFID is no big deal: Academic

KANIKA SOOD  |  WEDNESDAY, 7 APR 2021
A UNSW academic says subjecting superannuation funds to "best financial interest duty" instead of just "best interest duty" is not material, but BFID's flow-on effects will be concerning for trustees. University of New South Wales director for centre ...

ESG managed accounts on the rise

ANNABELLE DICKSON  |  WEDNESDAY, 7 APR 2021
... pandemic," Schaffer said. Over 80% of advisers that use managed accounts believe it is easier to demonstrate client best interest duty through managed accounts compared to managed funds (73%) and a portfolio of direct shares or listed investments (69 ...

Instos seek unique alternatives

KARREN VERGARA  |  TUESDAY, 6 APR 2021
... driven largely by the macroeconomic environment and the effect of the global pandemic. Monitoring market volatility and interest rate changes are important factors, cited by 42% of investors.

Count snaps up three former MLC firms

ELIZABETH MCARTHUR  |  THURSDAY, 1 APR 2021
... biggest drawcard for joining Count Financial is that they are an AFSL that believes in advice first, with no conflicts of interest in manufactured product," Stevens said. "They are not aligned with a product provider or platform and are purely advice-led ...

Spirit Super drops fees after merger

KANIKA SOOD  |  THURSDAY, 1 APR 2021
Tasplan and MTAA Super's $23 billion merged fund, Spirit Super, has reduced the weekly administration fees for members by 13.4%. Effective today, the administration fees are reducing from $1.50 per week to $1.30 per week. The merged fund has also ...

ASIC cracks down on binary options

ELIZABETH MCARTHUR  |  THURSDAY, 1 APR 2021
... non-occurrence of a specified event in a defined timeframe. For example, a binary option might pay out if a central bank lowers interest rates or the price of goal hits a certain level within a certain timeframe. There is also counterparty risk in binary ...

New hybrids ETF on Chi-X

KANIKA SOOD  |  WEDNESDAY, 31 MAR 2021
... Investment Management has listed a hybrid fund on the Chi-X. The Elstree Hybrid Fund (EHF1) invests in Australian hybrids and interest rate securities, targeting a return over short-term interest rates over a three-year period. "We believe the hybrid ...

Risk inflows stagnant, satisfaction varies

ANNABELLE DICKSON  |  WEDNESDAY, 31 MAR 2021
Risk premium inflows experienced marginal decreases in the 12 months to December 2020 as the gap in consumer satisfaction grows, new research shows. The latest data from Plan For Life showed total inflows increased 0.5% to $16.3 billion with just a ...

AMP sees 245% jump in consumer interest

ELIZABETH MCARTHUR  |  WEDNESDAY, 31 MAR 2021
AMP has reported a huge jump in the number of consumers visiting its website looking for free financial education articles. There was a 245% increase in total unique visitors to the AMP site, when comparing the first two months of 2020 to the first ...