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| | | ASIC has cancelled the Australian financial services licence (AFSL) of Pulse Markets, a wholly owned subsidiary of BIR Financial, for providing incompetent financial services, including inadequate supervision of its corporate authorised representatives ... |
| | | | The changes are coming into effect on April 1 and will see a member with $50,000 charged $388 in total fees per year. From April 1, Virgin Money Super's asset-based administration fee will increase from 0.394% p.a. to 0.424% p.a. For a member with a ... |
| | | | APRA's role as prudential regulator in the wake of the First Guardian Master Fund and Shield Master Fund collapses came under the spotlight at a recent parliamentary hearing. APRA chair John Lonsdale told the Senate Economics Legislation Committee that ... |
| | | | As regulators ramp up scrutiny of asset owners and managers, Australia's two largest super funds have seen high-profile governance and investment risk professionals quitting for new roles. Craig Roodt, AustralianSuper's governance lead for internal ... |
| | | | The $7.5 billion fund added a chief operations officer position and welcomed a chief member officer. Legalsuper executive manager, business enablement and risk John Robinson has been promoted to chief operations officer. Robinson, who has more than ... |
| | | | Although the tabling of the super tax bill was largely supported by the industry, the SMSF Association (SMSFA) remains concerned about the likelihood of "unintended" consequences. Yesterday, Treasurer Jim Chalmers introduced the Treasury Laws Amendment ... |
| | | | ASIC has imposed additional conditions on the Australian financial services licence (AFSL) of Cambridge Mercantile's local branch, following ongoing compliance failures in its foreign exchange derivatives business. The Corpay subsidiary misclassified ... |
| | | | Effective February 5, ASIC banned former MWL Financial Services (MWL) adviser Neil McPherson for giving advice to certain clients that was not in their best interests. An investigation found that during his tenure with MWL, McPherson recommended some ... |
| | | | A Reserve Bank of Australia (RBA) veteran has been appointed to lead an independent review into the Australian Office of Financial Management (AOFM). Treasury of the Secretary Jenny Wilkinson commissioned the independent review after it was requested ... |
| | | | Commonwealth Bank of Australia (CBA) released its half year results today, seeing profits rise to $5.4 billion. As part of is H1 report, the major bank gave an update on its ongoing superannuation and advice-related class actions. CBA said it still ... |
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