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Showing 31 - 40 of 431 results for "Remediation"

'Significant deficiencies' lead APRA to act against NGS Super

JAMIE WILLIAMSON | FRIDAY, 8 DEC 2023

... the additional conditions now require the fund to engage an independent third party to provide assurance regarding remediation activities and to address the recommendations of the reviews. The third party must also conduct an operational effectiveness ...

Mercer fined $12m over advice failures

JAMIE WILLIAMSON | THURSDAY, 23 NOV 2023

... outcome shows, if they fail to do so, they face significant penalties." Mercer has previously paid about $45 million in remediation to more than 3400 clients who were charged fee for advice they may not have been provided. This conduct stretched from ...

Perth Mint enters voluntary enforceable undertaking

CASSANDRA BALDINI | THURSDAY, 23 NOV 2023

... regulatory response. AUSTRAC said the EU will ensure that Gold Corporation commits sufficient resources to implement its remediation program or risk further enforcement action. It said further action could include seeking court orders to enforce the ...

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON | THURSDAY, 9 NOV 2023

... Markets Asia Pacific, Eightcap, IG Australia, Pepperstone Group, Saxo Capital Markets, and City Index were forced to pay remediation. Of the amount paid, $13.1 million went to 523 clients of Oztures Trading, which traded as Binance Australia Derivatives ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA | TUESDAY, 26 SEP 2023

... appropriate oversight and accountability. ASIC measured large licensees against standards in Regulatory Guide 277 Consumer Remediation and found several gaps that could lead to poor consumer outcomes. Many are narrowing the remediation review period ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN | TUESDAY, 26 SEP 2023

... ANZ has already reimbursed over 186,000 accounts for erroneous fees and interest on cash advances. While the average remediation amount is around $45 per affected account, some individual customers were charged thousands of dollars in fees. On top of ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON | FRIDAY, 22 SEP 2023

... 2888 personal accounts and 513 business accounts. The actual issue began in 2001 and resulted in about $9 million in remediation paid. The judge said NAB "unjustifiably advanced its self-interest whilst knowing that its customers were oblivious to the ...

Boards must crack down on cybersecurity: ASIC

CASSANDRA BALDINI | TUESDAY, 19 SEP 2023

... being boards' oversight of cyber risk, management reporting of cyber risk to boards, management identification and remediation of cyber risk, cyber risk assessments, and how cyber risk controls are implemented. Longo highlighted three ways in which ...

AustralianSuper sued over multiple accounts

JAMIE WILLIAMSON | FRIDAY, 8 SEP 2023

... member accounts. This should not have happened, and we apologise unreservedly to members," the fund said. It said the remediation program for the matter is now "substantially complete" and that it has since strengthened processes to identify and combine ...

Macquarie flags asset management challenges

CASSANDRA BALDINI | THURSDAY, 7 SEP 2023

... FY23 from $3.029 million in FY22. Providing a regulatory update, Macquarie said it's been working with APRA on a remediation plan that strengthens its governance, culture, structure, and enumeration to ensure full and ongoing compliance with prudential ...

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Ausfood Super appoints chief executive

ELIZABETH FRY

Australian Food Super, the superannuation fund set up for employees in the meat industry, has named Michael Sykes as its new CEO.

mFunds sparked ASX outage, $1m credit issued

KARREN VERGARA

The ASX said the outage from last month largely stemmed from the now-defunct mFunds and will subsequently credit participants $1 million to make amends.

Aussie shares cost 8% more on rebalance days: Dimensional

KARREN VERGARA

Investing in the S&P/ASX 300 on a day it rebalances puts an 8% premium on share prices, a phenomenon that follows major global indices, new research from Dimensional Fund Advisors finds.

Rest appoints first-ever chief of staff

ANDREW MCKEAN

Rest has appointed a senior wealth management leader and superannuation expert from Insignia Financial to take the reins as chief of staff.

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Jenny Taing

Principal Solicitor

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'Chameleon ETFs': Still groundbreaking and here to stay?

It was coined as a 'gamechanger' - an ETF that can be bought and sold on the ASX or Cboe Australia but that can also be applied for, and redeemed, directly ...

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Robert Talevski

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Tailored or off-the-shelf: What's right for your practice?

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Nathan Robertson

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Five principles for successful family office investing

At the time of writing, Australian public companies were at the end of another round of reporting their half-yearly financial results. For investors and ...

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Robert De Dominicis

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Mistaking financial literacy for retirement literacy

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Kellie Wood

HEAD OF FIXED INCOME
SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED

Schroders Australia's Kellie Wood talks about winning a lot, so much so that it's become a well-intentioned joke with her co-workers - but it's this ambitious attitude that spurs her on every day. Eliza Bavin writes.

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