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

Search Results

Showing 401 - 410 of 5188 results for "Yes"

Federal Court imposes $4m penalty on industry fund

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
The Federal Court has imposed combined penalties of $4 million on Statewide Super for providing members with misleading information regarding their insurance and failing to report the issue to ASIC in the time required. Between 2017 and 2020, Statewide ...

Industry responds to heatmap findings

CHLOE WALKER  |  FRIDAY, 17 DEC 2021
Industry groups have labelled the APRA heatmaps a wake-up call to consumers about the importance of having their superannuation invested in a well performing fund, though there's still doubts as to the accuracy of the regulator's process. The release ...

Adviser population drops below 19,000

KARREN VERGARA  |  FRIDAY, 17 DEC 2021
The financial advice industry lost more than 2200 advisers this year, marking an 11% year-on-year drop to 18,822. Rainmaker modelling of ASIC's Financial Adviser Register reveals that only 18,822 advisers are left as of yesterday, December 16. At ...

Government backflips on adviser education

ELIZABETH MCARTHUR  |  FRIDAY, 17 DEC 2021
Not long after Labor suggested it would not require older financial advisers to get degrees, the Liberal party has now backflipped on education standards to match Labor's policy. Minister for superannuation, financial services and the digital economy ...

MySuper heatmap offers few surprises

JAMIE WILLIAMSON  |  FRIDAY, 17 DEC 2021
The annual MySuper heatmap shows 45% of products delivered returns below benchmark this year but there are few surprises, with most being the same products that failed the performance test. The regulator has also shared which funds came close to failing ...

Shareholders reject Westpac remuneration report

KARREN VERGARA  |  THURSDAY, 16 DEC 2021
Disgruntled Westpac shareholders rejected the remuneration report at the bank's annual general meeting yesterday. Twenty-nine percent of shareholders voted down adopting the remuneration report, marking the first strike. Should 25% or more shareholders ...

Economic recap: Week to December 10

BENJAMIN ONG  |  MONDAY, 13 DEC 2021
As it was in 2020, so it is in 2021. Yes Virginia, I don't believe it too until... I re-read my first scribbles on this site at the beginning of 2021. On January 12 this year, I wrote: "Fiscal and monetary authorities prompt and aggressive counter-cycle ...

Frydenberg pledges to move on crypto regulation

CHLOE WALKER  |  THURSDAY, 9 DEC 2021
Federal Treasurer Josh Frydenberg has outlined the government's plans to move forward with new crypto asset reforms in 2022. In a speech to the Australian-Israel Chamber of Commerce (AICC) yesterday, the Federal Treasurer described the move as the most ...

Financial Advice Hub goes live

KARREN VERGARA  |  WEDNESDAY, 8 DEC 2021
The one-stop shop for regulatory information for financial advisers launched on December 7. ASIC unveiled the new webpage following feedback from the industry that its resources were hard to find. The hub now consolidates ASIC's existing regulatory ...

Clime partners for $330m SMAs

KARREN VERGARA  |  FRIDAY, 3 DEC 2021
Clime Investment Management has partnered with a managed accounts specialist to create a $330 million product. On December 2, Ralton Asset Management and Clime entered an exclusive agreement to combine their separately managed accounts businesses. The ...