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Showing 471 - 480 of 1804 results for "Bill 2014"

MLC faces class action over adviser fees

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 JUL 2019
IMF Bentham and William Roberts Lawyers will bring a class action against MLC's super fund trustee NULIS Nominees relating to excess fees charged to members for adviser commissions. IMF Bentham and William Roberts will allege NULIS breached its ...

Government extends early retirement scheme

ELIZABETH MCARTHUR  |  MONDAY, 8 JUL 2019
The government announced it will extend the concessional tax treatment of genuine redundancy and early retirement scheme payments to those under age pension qualifying age. The Treasury Laws Amendment (2019 Measures) Bill 2019 will amend the tax law ...

Putting Members' Interests First Bill reintroduced

KARREN VERGARA  |  FRIDAY, 5 JUL 2019
Legislation that prevents trustees from providing opt-out insurance to new members under 25 and low balance account holders was reintroduced in Parliament overnight. The Treasury Laws Amendment (Putting Members' Interests First) Bill 2019, which was ...

State Street cops $125m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 3 JUL 2019
State Street has paid more than $125 million to settle charges for adding undisclosed markups on expenses related to the custody of client assets. In a settlement, State Street Bank and Trust Company has paid $125 million (USD88 million) after the Securities ...

Associations raise member outcomes concern

KARREN VERGARA  |  FRIDAY, 21 JUN 2019
Superannuation industry associations are voicing their concerns over the proposed member outcomes framework, worried there is a disconnect between the law and APRA's expectations. APRA is busy working through submissions for Prudential Standard ...

Facebook to launch own currency

HARRISON WORLEY  |  WEDNESDAY, 19 JUN 2019
The social media giant revealed plans for its first financial services product, a digital wallet and its own cryptocurrency. Facebook is set to launch its own digital wallet in 2020, to allow people to access and participate in the Libra network, Facebook's ...

ANZ cleared of $50m fee bungle

KANIKA SOOD  |  FRIDAY, 14 JUN 2019
ASIC has cleared ANZ of the $50 million fee-for-no-service misconduct connected to its Prime Access offering. The corporate regulator said it is satisfied by the audited attestation it received from ANZ, signed by managing director private banking and ...

Liquidnet acquires fintech

KANIKA SOOD  |  FRIDAY, 7 JUN 2019
The global network for institutional investors has acquired a firm that uses natural language processing to produce predictive market analytics for investment professionals. Liquidnet has acquired Prattle, the developer of a proprietary system that ...

Industry wide pay cut for boards

ELIZABETH MCARTHUR  |  TUESDAY, 4 JUN 2019
The Governance Institute released results of its Australian Board Remuneration Survey, finding remuneration is up for board chairs and directors across the country - except in the finance and insurance sectors. Board members in finance and insurance ...

Suncorp Super faces action over adviser pay

JAMIE WILLIAMSON  |  TUESDAY, 4 JUN 2019
Two law firms are working to bring a class action against a retail superannuation fund, with existing and former members suing over conflicted remuneration paid to financial advisers. Suncorp Portfolio Service, also known as Suncorp Super, is facing ...