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Showing 521 - 530 of 2379 results for "Rule"

UBS, Nomura cop fines over bond cartel

KANIKA SOOD  |  TUESDAY, 25 MAY 2021
UBS, Nomura and UniCredit were fined a total of $585 million by the European Commission for cartel conduct in government bond trading during the GFC. EC says the three investment banks breached antitrust rules through the participation of a group of ...

Advisers filter clients via ethical lens

KARREN VERGARA  |  FRIDAY, 21 MAY 2021
The rise of ethically minded financial advisers has reached the point where clients have been sacked because they do not align with their values. This is according to Zurich risk strategy specialist Adam Crabbe, who is seeing a shift in the emergence ...

Long way for super complaints overhaul

KANIKA SOOD  |  THURSDAY, 20 MAY 2021
From October 5 super funds must have stronger internal dispute resolution systems but a new ASIC survey shows many are still overshooting the 45-day deadline for resolving member complaints. The new IDR rules were set out in RG 271 introduced last July. ...

Macquarie Securities slapped with $126k fine

KARREN VERGARA  |  TUESDAY, 18 MAY 2021
... transact with MSAL's buy orders," it said. Consequently, the panel had reasonable grounds to believe that MSA contravened Rule 3.3.1(b) of the ASIC Market Integrity Rules (Securities Markets) 2017. MSA has subsequently ceased using ASXC for buy-back ...

Retirees freed from legacy products

ANNABELLE DICKSON  |  TUESDAY, 11 MAY 2021
Individuals locked into legacy retirement products will now have the chance to transfer into newer, more flexible products without penalty under a new measure. The government is introducing a two-year amnesty for individuals in market-linked, life-expectancy ...

ClearView appoints head of life strategy

KANIKA SOOD  |  MONDAY, 3 MAY 2021
ClearView Wealth has hired a former Zurich executive as its head of life strategy and transformation in a newly created role. Maria Falas was most recently Zurich Financial Services' head of mental health and wellness. She held the same role at ...

Mawhinney banned for 20 years

ELIZABETH MCARTHUR  |  MONDAY, 19 APR 2021
The Federal Court has ruled that Mayfair 101 founder James Mawhinney cannot fundraise for or advertise financial products for 20 years. The judgement, delivered this morning, ordered that Mawhinney and any of his employees or any companies he is a part ...

ARK Innovation ETF cops neutral rating

KARREN VERGARA  |  TUESDAY, 13 APR 2021
Despite delivering a stellar performance, star fund manager Catherine Wood's ARK Innovation ETF has been slapped with a neutral rating from Morningstar. Morningstar strategist Robby Greengold said personnel issues and lax risk controls could be ...

NAB MySuper class action heads to Federal Court

JAMIE WILLIAMSON  |  MONDAY, 12 APR 2021
Maurice Blackburn's class action against MLC Nominees and NULIS Nominees has moved to the Federal Court, following a decision late last year. The class action brought by Maurice Blackburn against MLC Nominees and NULIS in January 2020 on behalf ...

APRA takes action against Macquarie

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
... intensified supervision to address the bank's persistent difficulties in complying with its prudential obligations. We cannot rule out further action as more information comes to light about the root causes of these breaches," APRA deputy chair John ...