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Showing 351 - 360 of 938 results for "Representatives 221"

Westpac reveals Magnitude, Securitor adviser remediation

HARRISON WORLEY  |  WEDNESDAY, 1 MAY 2019
Westpac is set to repay more than 30% of the ongoing advice service fees charged by authorised representatives of Magnitude and Securitor. Westpac announced it would take a $357 million hit to cash earnings in its first half result based on currently ...

ASIC appoints receiver for derivatives issuer

ELIZABETH MCARTHUR  |  FRIDAY, 26 APR 2019
ASIC has cancelled the AFSL of an OTC derivatives issuer and helped appoint a receiver to the firm and its related companies. ASIC has successfully applied to the Federal Court to appoint receivers to Berndale Capital Securities, Berndale Capital Securities ...

Rush of advisers sign up before FASEA deadline

ELIZABETH MCARTHUR  |  FRIDAY, 26 APR 2019
The final quarter of 2018 saw more than 4000 financial advisers sign up to ASIC's Financial Adviser Register. According to a Rainmaker analysis of ASIC data, an extra 4037 financial advisers registered as authorised representatives to meet FASEA's ...

ASIC bans Gold Coast adviser

ELIZABETH MCARTHUR  |  TUESDAY, 23 APR 2019
ASIC has banned a Gold Coast financial adviser from providing financial services for six years. ASIC found that Rodney Peters represented to clients that he had authority to engage in discretionary trading when this was not the case. Peters was previously ...

Inquiry denounces franking credit ban

HARRISON WORLEY  |  FRIDAY, 5 APR 2019
The House of Representatives Standing Committee on Economics concluded Labor's proposal to remove refundable franking credits should not go ahead. Releasing the committee's final report last night, Liberal MP and committee chair Tim Wilson said the ...

Major advice licensee in possible best interest breach

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
Extra conditions have been placed on the AFSL of one of Australia's biggest financial advice licensees following an investigation sparked by phenomenal growth in adviser numbers in just six months. SMSF Advisers Network has had additional licence ...

MP slams prolonged grandfathered commissions carve out

KARREN VERGARA  |  TUESDAY, 2 APR 2019
With the ANZ banking group abolishing all grandfathered commissions as of yesterday, the industry is receiving little sympathy from the Government. Deputy chair of the House of Representatives Standing Committee on Economics Review of the Four Major ...

Don't expect super favouritism: Bowen

HARRISON WORLEY  |  MONDAY, 1 APR 2019
If Labor wins the upcoming Federal Election, don't expect the new Treasurer to go easy on underperforming funds - industry or otherwise. Speaking at an FSC BT Political Series lunch at Doltone House in Sydney last week, Shadow Treasurer Chris Bowen ...

NAB needs 500 staff for remediation

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
National Australia Bank chief executive Philip Chronican has acknowledged the institution needs to go to great lengths to repay customers. In his opening statement to the House of Representatives Standing Committee on Economics, Chronican began by saying ...

Investors raise alarm on Facebook

ELIZABETH MCARTHUR  |  WEDNESDAY, 27 MAR 2019
In the wake of the Christchurch terrorist attack, many are questioning the role of Facebook in investment portfolios. After the social media giant live streamed the shootings, ethical investors have been forced to consider whether Facebook genuinely ...