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Showing 471 - 480 of 2775 results for "OCC"

GAM shareholders challenge acquisition

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
An investor group that controls 8.4% of Swiss fund manager GAM is challenging its proposed acquisition by Liontrust Asset Management. Last week, GAM announced it had agreed to be taken over by Liontrust, in a deal that would create a $100 billion fund ...

Industry funds' illiquid assets scrutinised

ANDREW MCKEAN  |  THURSDAY, 11 MAY 2023
The Australian superannuation system allows investors to shift between options and funds daily, raising critical questions about liquidity. Despite requirements under SPG530 - Investment Governance, public disclosure on liquidity stress-testing is relatively ...

NALI measure receives mixed response

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAY 2023
The federal government provided clarity on the Non-Arm's Length Income (NALI) provisions related to expenditure incurred by superannuation funds - however, the industry says it requires further consideration. In last night's budget, the government ...

ASIC revises IDR reporting framework

JAMIE WILLIAMSON  |  MONDAY, 8 MAY 2023
ASIC has further staged the implementation timeframe for internal dispute resolution data reporting. In total, 8600 financial firms will report their customer complaints data for the first time under the framework. The first group to do so comprised ...

UK to ban cold calling on all financial products

JAMIE WILLIAMSON  |  FRIDAY, 5 MAY 2023
The UK is planning to ban cold calling on all financial products as part of a broader strategy for tackling scams. In an announcement from prime minister Rishi Sunak, the government said it is going to stop scams before they reach people. In part, this ...

HESTA revamps insurance offering

JAMIE WILLIAMSON  |  THURSDAY, 4 MAY 2023
HESTA has renewed its mandate with AIA Australia and, in doing so, made a raft of changes to its insurance offering. HESTA notified members it has renewed its insurance arrangements with AIA, extending the relationship that's been in place since 2017. ...

Ord Minnett cops $888k fine over buyback

JAMIE WILLIAMSON  |  WEDNESDAY, 3 MAY 2023
ASIC's Market Disciplinary Panel handed Ord Minnett an $888,000 infringement notice over two contraventions of market integrity rules which occurred when conducting a buyback. According to ASIC, on 1 September 2021 the firm was instructed to commence ...

Lazard to reduce workforce by 10%

JAMIE WILLIAMSON  |  MONDAY, 1 MAY 2023
Lazard is slashing its global workforce by 10% this year to save on costs amid a lack of deal activity. In a quarterly update, Lazard said it has already commenced the initiative, with US$21 million spent on the plan in Q1. It said it anticipates the ...

High Court rejects Mayfair 101 plea

JAMIE WILLIAMSON  |  MONDAY, 24 APR 2023
Mayfair 101's James Mawhinney has seen his High Court appeal rejected, allowing ASIC's case against him to be retried in the Federal Court. In October 2022, the Full Federal Court ordered a retrial after it found ASIC's original case against Mawhinney ...

ATO keeping tabs on SMSF early access, tax avoidance

KARREN VERGARA  |  FRIDAY, 21 APR 2023
The tax office issued a fresh warning to the rich who use self-managed superannuation funds as a vehicle for dodging tax and those who illegally access their retirement savings early. Of the total SMSFs in existence, 25% are operated by private wealth ...