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Showing 481 - 490 of 6175 results for "Statement"

FSCP issues another registration prohibition order

KARREN VERGARA  |  WEDNESDAY, 13 DEC 2023
The Financial Services and Credit Panel (FSCP) made another registration prohibition order against a financial adviser who tried to recommend an SMSF and investment products that were not suitable to a client. Melbourne-based Stephen Rogers, a representative ...

'Significant deficiencies' lead APRA to act against NGS Super

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... conduct an operational effectiveness review of the controls and frameworks in place at NGS aligned to CPS 234. In a statement, NGS said it is working with APRA to meet the additional requirements. "We've reviewed our processes and acted to further strengthen ...

RBA names new chief economist

ANDREW MCKEAN  |  FRIDAY, 8 DEC 2023
... unique and diverse perspective to the Bank and the leadership team." Today, Bullock and the RBA board agreed to a new Statement on the Conduct of Monetary Policy released by treasurer Jim Chalmers. This statement reaffirms the government's commitment ...

Perpetual rebuffs Soul Pattinson takeover offer

ANDREW MCKEAN  |  THURSDAY, 7 DEC 2023
... businesses as part of a strategic review." "The board remains focused on exploring options to maximise shareholder value," a statement said. BofA Securities and Goldman Sachs are acting as financial advisers to Perpetual, while Soul Pattinson has engaged ...

QAR final response winds clock back, says FAAA

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
... consumers." While the FAAA welcomed some of the other inclusions, like greater support for scaled advice, replacing the Statement of Advice, and the removal of the Safe Harbour steps, it said this second tranche has it reconsidering its initial support ...

Adviser with Investport links sees ban affirmed

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
A financial adviser who failed to act in her clients' best interests by recommending they invest in the Investport scheme she was receiving loans from has seen her two-year ban affirmed by an appeals tribunal. Pamela Anderson was a financial adviser ...

Final QAR reforms open door to super funds

CASSANDRA BALDINI  |  THURSDAY, 7 DEC 2023
... response to the Quality of Advice Review (QAR), the government plans to modernise the best interests duty and amend the Statement of Advice (SoA), while also granting approval for superannuation funds to provide personal advice. In its final report ...

Interest rates on hold as RBA pauses

CHLOE WALKER  |  WEDNESDAY, 6 DEC 2023
... Street Global Markets head of APAC macro strategy Dwyfor Evans said while the RBA rate hold was expected, the governor's statement was more dovish than many had envisaged. "The RBA's data dependency remains a stock response for the sake of policy optionality ...

Morningstar cops greenwashing fine

KARREN VERGARA  |  FRIDAY, 1 DEC 2023
... 30. "Payment of an infringement notice is not an admission of guilt or liability," ASIC said. Morningstar said in a statement that: "Morningstar Investment Management Australia Limited has agreed to settle two infringement notices issued by ASIC that ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
The Federal Court has imposed a $5 million penalty on OnePath Custodians for unlawfully deducting adviser service fees from members. According to court documents, the trustee made misleading representations about its right to continue charging fees ...