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Showing 431 - 440 of 1803 results for "Bill 2014"

Westpac takes $1 billion profit hit

ELIZA BAVIN  |  THURSDAY, 24 OCT 2019
Westpac's customer compensation bill has added $341 million in the second half of 2019, bringing the remediation total to $958 million for the year. Westpac chief executive Brian Hartzer said: ""A key priority in 2019 has been to deal with outstanding ...

Disgruntled chief executive wins $2.7million

KANIKA SOOD  |  WEDNESDAY, 23 OCT 2019
GBST Holdings is facing a roughly $2.7 million bill after a former chief executive won a wrongful dismissal court claim against the financial services software company. Stephen Lake was GBST's chief executive and managing director from 2001 to 2015 ...

Hong Kong hedge funds suffering: Report

ELIZA BAVIN  |  MONDAY, 21 OCT 2019
As protests continue in Hong Kong, hedge funds based in the region have seen the first negative net outflows recorded by the industry in a decade. Small to medium-sized funds, overseeing up to US$500 million in assets, have "bore the brunt" of investor ...

ASIC using intimidation tactics on grandfathering: AIOFP

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
ASIC is using intimidation tactics to get product providers to shut down grandfathered commissions early, according to the Association of Independently Owned Financial Professionals (AIOFP). Speaking to Financial Standard, AIOFP executive director Peter ...

Grandfathered commissions ban passes

ELIZABETH MCARTHUR  |  TUESDAY, 15 OCT 2019
The legislation that will end grandfathered commissions has passed both houses of federal parliament. Under the reforms, the benefit of any conflicted remuneration payable under a contract must be passed on to the client. The Treasury Laws Amendment ...

Chief economist update: When QE is not QE

BENJAMIN ONG  |  MONDAY, 14 OCT 2019
If it walks like a duck and quacks like a duck, is it a duck? It is not, according to the US Federal Reserve. On October 11, the Fed issued a press release explaining its plan to buy Treasury bills at "an initial pace of approximately $60 billion per ...

Fidante signs US alternatives manager

KANIKA SOOD  |  FRIDAY, 4 OCT 2019
An American fund manager has teamed up with Challenger's Fidante Partners to market its funds down under, as it sees Australian demand for alternative strategies rise. Los Angeles's Ares Management Corporation manages over US $142 billion across three ...

NAB hit with extra billion in remediation

ELIZABETH MCARTHUR  |  WEDNESDAY, 2 OCT 2019
National Australia Bank announced an additional $1.18 billion in remediation expenses, mostly relating to financial advice. Combined with previously announced remediation costs, NAB is now facing a total remediation bill of $2.09 billion. The unforeseen ...

Senate secures members' interest changes

HARRISON WORLEY  |  FRIDAY, 20 SEP 2019
Insurance in superannuation is now opt-in only for new members under the age of 25 and those with low account balances, after the government's Putting Members' Interests First super reforms passed through the Senate yesterday. The Senate passed ...

Super trustees must do better: Byres

HARRISON WORLEY  |  FRIDAY, 20 SEP 2019
APRA will soon need to have some difficult conversations with poorly performing superannuation funds, according to chair Wayne Byres. Speaking at a Gilbert + Tobin event in Sydney this week, Byres said the ability of the prudential regulator to hold ...