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

Search Results

Showing 411 - 420 of 1726 results for "Provisio"

Insider trading forum busted

ELIZABETH MCARTHUR  |  FRIDAY, 19 MAR 2021
The Securities and Exchange Commission (SEC) has busted an internet forum where people were selling "insider tips" on listed companies. California man James Roland Jones was charged with perpetuating a fraudulent scheme to sell what he claimed were ...

Must prepare for demise of LIBOR: RBA

ELIZA BAVIN  |  FRIDAY, 19 MAR 2021
The Reserve Bank of Australia (RBA) has told financial institutions they must be prepared for the "imminent demise" of LIBOR. RBA assistant governor (financial markets) Christopher Kent said as the deadline for LIBOR is fast approaching, financial institutions ...

ASIC bans adviser over dodgy super consolidation

ELIZABETH MCARTHUR  |  MONDAY, 15 MAR 2021
ASIC has permanently banned a Melbourne financial adviser for allegedly pressuring people into consolidating their superannuation for a fee. Nizi Bhandari has been banned from providing financial services permanently. He was an authorised representative ...

Chances of CBA admitting to Essential Super wrongdoing "non-existent"

JAMIE WILLIAMSON  |  FRIDAY, 12 MAR 2021
Lawyers for Commonwealth Bank (CBA) and Colonial First State (CFS) in its ongoing case against ASIC have told the court the parties have no intention of admitting to any contraventions in relation to Essential Super and an alleged $22 million in conflicted ...

Mawhinney not dishonest, just irresponsible: ASIC

ELIZABETH MCARTHUR  |  FRIDAY, 12 MAR 2021
The corporate regulator has slightly softened its accusations against Mayfair 101 founder James Mawhinney - saying he wasn't consciously dishonest, just irresponsible. During a hearing in ASIC's case against M101 Nominees held on March 9, a lawyer for ...

APRA calls out poor group insurance practices

KARREN VERGARA  |  TUESDAY, 9 MAR 2021
The prudential regulator has lambasted the group insurance sector for several practices it deems disagreeable, casting doubt over the future viability of insurance provided via superannuation. APRA recently wrote to superannuation funds and life insurers ...

Remains of Melissa Caddick found

ELIZABETH MCARTHUR  |  FRIDAY, 26 FEB 2021
A foot in a shoe has been identified as belonging to missing woman Melissa Caddick, the woman who claimed to be a financial adviser and is the subject of an ongoing ASIC investigation. The human remains were discovered on a beach on the NSW South Coast ...

Standard Life Aberdeen sells 196-year-old brand

JAMIE WILLIAMSON  |  WEDNESDAY, 24 FEB 2021
Following the pair's strategic partnership in 2018, Standard Life Aberdeen will sell the Standard Life name to Phoenix Group as part of a revised deal. Standard Life Aberdeen, which has a 14% stake in Phoenix Group as part of the partnership, entered ...

SMSFs given small LRBA win

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
Self-managed super funds that borrowed from a private company under a limited recourse borrowing arrangement (LRBA) will not suffer adverse tax consequences if the loan interest has been capitalised because of COVID-19. This recent announcement by the ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
The corporate regulator continues to hunt down perpetrators that give bad advice to self-managed super funds, sounding a warning that it is flexing its new powers in superannuation. ASIC commissioner Danielle Press told the recent SMSF Association's ...