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Showing 521 - 530 of 19564 results for "Ban"

NAB fined over $15m for delaying hardship applications

MATTHEW WAI  |  THURSDAY, 14 AUG 2025
The Federal Court has ordered National Australia Bank (NAB) and its subsidiary ASFH Nominees to pay a pecuniary penalty of $15.5 million for failing to respond to customers facing hardship. The court found that between 2018 and 2023, NAB and ASFH failed ...

ASIC calls out super 'leaders and laggards'

ELIZA BAVIN  |  THURSDAY, 14 AUG 2025
ASIC commissioner Simone Constant has told super trustees more needs to be done to meet obligations under the Retirement Income Covenant. "We are three years into the Retirement Income Covenant now. Three years since trustees have been obliged by law ...

Decade-long ban for UGC director upheld

MATTHEW WAI  |  WEDNESDAY, 13 AUG 2025
The Administrative Review Tribunal has upheld ASIC's decision to ban United Global Capital (UGC) director Joel James Hewish for 10 years, after he lodged a review of the ban handed down in June 2024. The Tribunal conducted two hearings since the application ...

RBA cuts rates, experts debate next moves

ELIZA BAVIN  |  WEDNESDAY, 13 AUG 2025
As widely anticipated, the Reserve Bank of Australia (RBA) delivered a 0.25% interest rate cut at the August meeting, bringing the official cash rate down to 3.6%. The RBA board noted that the easing in inflation alongside a softening in the labour ...

CBA sets aside $52m for remediation

ELIZA BAVIN  |  WEDNESDAY, 13 AUG 2025
Commonwealth Bank of Australia (CBA) said it has provisioned $52 million for remediation purposes as it finalises various class actions, including those related to superannuation and advice. CBA said the group is still defending two superannuation class ...

Norway sovereign wealth fund divests 11 Israeli companies, cuts mandates

KARREN VERGARA  |  TUESDAY, 12 AUG 2025
Norway's US$2 trillion sovereign wealth fund has severed ties with 11 Israeli companies and is in the process of terminating mandates with external managers based in Israel. The sovereign wealth fund's manager, Norges Bank Investment Management ...

RBA cut 'highly likely', but caution remains

ELIZA BAVIN  |  MONDAY, 11 AUG 2025
Economists and experts are anticipating another interest rate cut to be delivered by the Reserve Bank of Australia (RBA) at its August meeting tomorrow. T. Rowe Price co-portfolio manager of the dynamic global bond strategy Scott Solomon said unlike ...

Four men charged over sophisticated bond scam

MATTHEW WAI  |  FRIDAY, 8 AUG 2025
Four residents of Victoria have been charged with a slew of money laundering offences for allegedly using fake social media advertisement and investment comparison sites to help run a bond scam. ASIC alleges that between January and July 2021, Dimitrios ...

InterPrac hit with $22m in AFCA complaints

KARREN VERGARA  |  FRIDAY, 8 AUG 2025
Sequoia Financial Group's InterPrac Financial Planning is facing $22 million worth of complaints lodged with the Australian Financial Complaints Authority (AFCA) for its advisers' role in the collapse of the Shield Master Fund and First Guardian ...

Legal costs weigh on AMP profits

JAMIE WILLIAMSON  |  THURSDAY, 7 AUG 2025
Costs associated with remediation and its simplification strategy put a slight dent in AMP's half-year net profits, coming in at $98 million. Released this morning, AMP's results show a 5% drop in interim net profit, largely attributed to $11 ...