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Showing 31 - 40 of 116 results for "Loophole"

YFYS manipulation leaves members worse off: ISA

ANDREW MCKEAN  |  WEDNESDAY, 16 NOV 2022
... super test," ISA said. These funds are shifting assets to categories with lower-return benchmarks and exploiting a fee loophole that boosted their test score without a reduction in overall fees or an increase in investment returns to members, ISA added. ...

Volatile crypto markets need better regulation: CHOICE

ANDREW MCKEAN  |  TUESDAY, 31 MAY 2022
CHOICE has made a submission to the federal government, providing a framework on how to better protect consumers from risks associated with cryptocurrency. According to the latest data from CHOICE's national consumer survey, one in five Australians ...

Low wage growth a deliberate design feature: ACTU

ANDREW MCKEAN  |  TUESDAY, 3 MAY 2022
An ACTU report has blasted the Coalition government for the consistent entrenchment of low wage growth. The Morrison missing in action on wages report shows that over the entire term of the Morrison government, real wages have fallen by 2.3%. This is ...

Hume, Bragg address Blockchain Week

ELIZABETH MCARTHUR  |  TUESDAY, 22 MAR 2022
... to ongoing sanctions against Russia amid the war in Ukraine - and the question of whether cryptocurrencies provide a loophole around these sanctions. "Without proper measures, crypto will be a loophole in international sanctions. Some of the most nefarious ...

Global alliance calls for BNPL regulations

CHLOE WALKER  |  THURSDAY, 17 MAR 2022
... part of the application process as credit cards are legally required to do," Kirkland said. "It is critical to fix this loophole in our laws, to ensure these businesses can't create debt traps for low-income households by providing credit that looks ...

NAB posts bumper profit

ANNABELLE DICKSON  |  TUESDAY, 9 NOV 2021
National Australia Bank recorded a 76.85% increase in cash earnings to $6.56 billion in its full-year results and outlined a new oil and gas policy. The big four bank also report a statutory net profit of $6.36 billion, up from $2.50 billion in 2020. ...

New equities LIC heads for the ASX

KANIKA SOOD  |  MONDAY, 16 AUG 2021
A Sydney boutique is looking to raise $25 million for a listed investment company that will invest in local and global stocks. Lanyon Asset Management will run the offer from September 13 to September 24, priced at $5 per share to raise a total of $25 ...

Insurers dodging Royal Commission reform

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
Last week, the federal government announced exemptions for the insurance industry in relation to Royal Commission reforms. According to the Consumer Action Law Centre, these exemptions allow the insurance industry to side-step the Royal Commission recommendations ...

Admin fees could balloon from BFID

KARREN VERGARA  |  TUESDAY, 16 MAR 2021
The new best financial interests duty (BFID) could see members pay higher administration fees as the record-keeping obligations ramp up, superannuation funds and industry experts warn. The reforms, which are part of the Your Future Your Super legislation ...

The trouble with best financial interests duty

KARREN VERGARA  |  WEDNESDAY, 10 FEB 2021
The best financial interests duty reform has major loopholes and lacks guidance from regulators, leading to major confusion for superannuation trustees. The fourth element of the proposed Your Future, Your Super reforms should be abandoned, according ...