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

Search Results

Showing 441 - 450 of 2785 results for "Westpac 16,500"

ASIC outlines enforcement efforts

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
In the second half of last year ASIC brought criminal proceedings against nine individuals on 76 charges, with four people imprisoned as a result and $12.7 million imposed in civil penalties. ASIC also disqualified 28 directors and there were 72 instances ...

Banks push to leave vertical integration on the table

HARRISON WORLEY  |  WEDNESDAY, 10 APR 2019
... their core banking operations, and the vertical integration model has all but been put out to pasture. Just last month, Westpac - which until then was the only big four bank still wholly committed to wealth management - decided to exit personal advice ...

Financial advice exit a boon for the industry: Poll

KARREN VERGARA  |  MONDAY, 8 APR 2019
The big four banks exiting financial advice received a resounding welcome from the industry, according to a new survey. The majority of respondents (62%) polled in Financial Standard's sister publication FS Advice agreed the move will have positive ...

Wealth heavyweights join FSC board

HARRISON WORLEY  |  THURSDAY, 4 APR 2019
Some big names in wealth management have joined the board of the Financial Services Council, including from AMP and Challenger. AMP chief executive, wealth management Alex Wade, Challenger chief financial officer Andrew Tobin and Jason Yetton - who ...

Regulators name laggard life insurance providers

KARREN VERGARA  |  MONDAY, 1 APR 2019
... and resolution times vary significantly across providers, a joint study by the regulators found. AMP (eight months) and Westpac (three months) take the longest to process death claims within group insurance, while TAL and AIA Australia are the most efficient ...

ASIC dismisses Royal Commission insider trading reports

ELIZABETH MCARTHUR  |  THURSDAY, 28 MAR 2019
ASIC has told parliament there was no insider trading around the release of the Royal Commission's final report. This comes after the Labor party suggested insider trading was responsible for bank stocks rising immediately on the back of Kenneth Hayne's ...

Remediation to hit Westpac earnings

HARRISON WORLEY  |  MONDAY, 25 MAR 2019
Westpac's cash earnings in the first half of the year will be hit by $260 million in remediation payments. The bank today confirmed the amount could still rise, with the $260 million provision not yet inclusive of any allowance for refunds to customers ...

Rest appoints two group executives

KARREN VERGARA  |  MONDAY, 25 MAR 2019
Superannuation fund Rest has appointed two group executives to join newly created units. Tyrone O'Neill is the new group executive of member engagement, while Brendan Daly will join the fund as group executive of product and operations. Member engagement ...

Banks move to derisk, workforces shrink

KANIKA SOOD  |  MONDAY, 25 MAR 2019
Australian employment figures and economic outlook could take a hit as major banks move to derisk their businesses by hiving off wealth and financial advice businesses. Westpac has announced it is exiting personal financial advice. Commonwealth Bank ...

Top staff at Regal get equity

KANIKA SOOD  |  FRIDAY, 22 MAR 2019
Regal Funds Management's key people have just acquired equity stakes in the boutique for the first time, after Phil King's family bought back a 30% stake from Ascalon. The King Family trust took 100% ownership of the boutique in October. As ...