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Showing 5481 - 5490 of 17959 results for "Bank"

CBA embroiled in rate-rigging allegations

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2018
The Commonwealth Bank is disputing allegations made by ASIC that it rigged the bank bill swap reference rate (BBSW) and engaged in unconscionable conduct. ASIC initiated civil penalty proceedings yesterday, alleging CBA traded a large number of its ...

Institutions urged to overhaul outdated risk management practices

JAMIE WILLIAMSON  |  TUESDAY, 30 JAN 2018
Australia's financial institutions lack the capability to understand and manage risks that flow from rapidly changing social attitudes and should consider creating a dedicated role in response. That is the view of the Actuaries Institute's Ian Laughlin ...

AI threatens financial services workers: Report

KARREN VERGARA  |  MONDAY, 29 JAN 2018
An overwhelming number (83%) of Australian financial services workers are concerned artificial intelligence (AI) technology will take over their jobs. That's according to technology and consulting firm Infosys' Leadership in the Age of AI report, which ...

VanEck rejigs Australian leadership for APAC expansion

JAMIE WILLIAMSON  |  MONDAY, 29 JAN 2018
VanEck's Australian arm announced a raft of expanded roles, including the promotion of its managing director. As part of an initiative to strengthen the delivery of VanEck's solutions in Asia, several Australian team members will take on leadership ...

Derivatives costly and ineffective: Research

KARREN VERGARA  |  MONDAY, 29 JAN 2018
The majority of superannuation pension products eschew derivative strategies due to high costs and lack of effectiveness, latest research shows. Only one-third (37%) of superannuation funds in Milliman's latest survey are using derivatives to protect ...

FinTech Australia chair steps down

JAMIE WILLIAMSON  |  MONDAY, 29 JAN 2018
... increasing competition and choice across Australian financial services - including through the introduction of challenger bank licences, which is a priority. "The fact of the matter is that Australia continues to have one of the most concentrated banking ...

Chief economist update: The angel in the details

BENJAMIN ONG  |  MONDAY, 29 JAN 2018
... gauge - only inching up to 1.5% in the year to the December 2017 quarter (from 1.4% in the previous period), the US central bank could afford to remain gradual and gentle towards policy normalisation. Ben Ong is the Director of Economics and Investments ...

Commonwealth Bank appoints new chief executive

JAMIE WILLIAMSON  |  MONDAY, 29 JAN 2018
Commonwealth Bank has named Ian Narev's successor. Effective 9 April 2018, Matt Comyn will be the new chief executive at the banking and wealth management group. Currently heading CBA's retail bank, he will replace Narev who announced his retirement ...

ASIC ramps up surveillance and remediation after adviser conflict report

KARREN VERGARA  |  THURSDAY, 25 JAN 2018
... vertically integrated institutions. In light of the Report 562 findings, which examined adviser conflicts of interest across bank-owned licensees, ASIC said it will work closely with the institutions to put more stringent remediation processes in place ...

Vertically integrated institutions failing to manage conflicts of interest

JAMIE WILLIAMSON  |  THURSDAY, 25 JAN 2018
... and 1 January 2017 to 31 March 2017; analysing 200 client files from the financial planning arms of AMP, ANZ, Commonwealth Bank, NAB and Westpac and respective dealer groups. In reviewing case files provided by the institutions, ASIC found 75% of the ...