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Showing 21 - 30 of 74 results for "ACT for"

Westpac forks out $80m for AUSTRAC scandal

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
Westpac said it expects $80 million in additional expenses in FY20 as parts of its response plan in relation to the AUSTRAC scandal. The bank provided a company update to the ASX, in which it outlined its progress on its response plan for the AUSTRAC ...

FIIG makes first impact investing play

HARRISON WORLEY  |  MONDAY, 11 NOV 2019
Specialist fixed income house FIIG Securities partnered with the microfinance arm of World Vision to launch its first impact investing product in Australia. FIIG Securities and VisionFund International launched an impact bond to the Australian market ...

APRA clarifies super fund acquisition process

KARREN VERGARA  |  TUESDAY, 16 JUL 2019
APRA has released further guidance for parties interested in acquiring a stake in superannuation funds. Parties seeking to acquire a 15% holding or more in an RSE must undertake the new application process. The process, APRA said, is consultative and ...

Industry responds to election outcome

ELIZABETH MCARTHUR  |  MONDAY, 20 MAY 2019
The financial services industry has welcomed the surprise Coalition victory, viewing the result as business as usual. In a shock result to many, the Coalition defeated Bill Shorten's Labor Party in the Federal election over the weekend. In response ...

MSCI ups China A-shares, managers respond

KANIKA SOOD  |  THURSDAY, 7 MAR 2019
MSCI said it will increase weighting of China A-shares in its indices from 5% to 20% by the end of this year. Here's what managers think. Mainland Chinese shares could rise: VanEck VanEck believes the inclusion could hoist mainland Chinese shares ...

Funds SA portfolio manager leaves, team to expand

KANIKA SOOD  |  WEDNESDAY, 10 OCT 2018
The $32 billion South Australian public sector fund is bidding farewell to a long-standing portfolio manager who looked after its alternatives portfolio. Clive Boyce managed Funds SA's private equity, infrastructure and opportunistic property investments ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... deceptive or likely to misleading or deceive"; Engaging in "unconscionable" conduct contrary to section 12CA of the ASIC Act for charging the PSF, attempting to retain and avoid reimbursement in circumstances where it was known that the fee should never ...

BTFG will pay back grandfathered commissions to customers

KANIKA SOOD  |  WEDNESDAY, 25 JUL 2018
BT Financial Group will pass on the benefit of banning grandfathered commissions to its clients instead of retaining it, the Financial Services Council Summit heard. BT Financial Group general manager advice Michael Wright told Financial Standard the ...

HESTA announces life insurance facelift

DARREN SNYDER  |  MONDAY, 20 NOV 2017
... Alignment of the release of insurance benefits for terminally ill members with the 24 month requirement under the SIS Act for access to super; and An improved digital experience for members. The changes follow a detailed review of HESTA's insurance arrangements ...

Government funds ATO superannuation taskforce

DARREN SNYDER  |  TUESDAY, 29 AUG 2017
A Superannuation Guarantee Taskforce is being established to crackdown on employers which fail to meet SG obligations and potentially short-change employees from their super. Federal Minister for Revenue and Financial Services, Kelly O'Dwyer, said the ...