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Showing 551 - 560 of 5167 results for "Money101"

Leigh Watson caps four decades in industry

ELIZABETH FRY  |  FRIDAY, 14 JUL 2023
After 43 years working in the financial services industry, Leigh Watson feels it's time to step back from full-time work and spend more time with family and friends. Watson left Swiss Re on June 30 after nine years as the head of life & health reinsurance ...

CBA staff head to Fair Work over WFH policy

JAMIE WILLIAMSON  |  THURSDAY, 13 JUL 2023
The Finance Sector Union will front the Fair Work Commission on behalf of Commonwealth Bank staff, fighting the banking giant's mandate that staff be in the office 50% of the time. At the end of May, CBA told staff that they would be required to work ...

Ownership changes spur upheaval in unit trust sector

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
Fund managers that were recently acquired or have undergone significant structural changes are seeing massive outflows within their unit trust business to the tune of $21 billion. According to Rainmaker's Benchmarking research note, an interesting ...

Federal Reserve plans upping capital requirements

CASSANDRA BALDINI  |  TUESDAY, 11 JUL 2023
The US Federal Reserve has proposed a regulatory overhaul in which the nation's largest banks would be forced to hold more capital in hopes future meltdowns in the sector can be prevented. Federal vice chair for supervision Michael Barr outlined ...

Retirees to own 55% of all super come 2032: Rainmaker

CHLOE WALKER  |  TUESDAY, 11 JUL 2023
Within the decade, retirees will own more than half of all superannuation funds under management (FUM), Rainmaker Information forecasts. Last year, super fund members aged 65 or older owned 40% of Australia's $3.3 trillion in superannuation assets. ...

16% of asset managers to exit by 2027: PwC

ANDREW MCKEAN  |  MONDAY, 10 JUL 2023
The asset and wealth management industry is set to undergo seismic change in the coming years, according to a new report by PwC. The report, which surveyed 500 asset managers and institutional investors, forecast that 16% of asset and wealth management ...

Openmarkets hit with largest ever MDP penalty

ANDREW MCKEAN  |  THURSDAY, 6 JUL 2023
Openmarkets Australia has paid a $4.5 million penalty, the largest sanction ever imposed by an ASIC Market Disciplinary Panel, after contravening market integrity rules. An ASIC investigation was triggered by a series of transgressions, most notably ...

ASIC deepens investigation into Magnolia founder

KARREN VERGARA  |  FRIDAY, 30 JUN 2023
The Federal Court has extended the travel ban on Magnolia Capital's founder as he faces an ASIC investigation that alleges $40 million of investor money has gone missing. Mitchell Atkins, also the managing director and chief investment officer of Magnolia ...

AUSTRAC drops action after Bell FG audit

CASSANDRA BALDINI  |  FRIDAY, 30 JUN 2023
The regulator confirmed it will not take further action against Bell Financial Group's three subsidiaries following an audit of its financial crime law compliance. Last February, AUSTRAC ordered an external auditor assess Bell Potter Securities ...

Performance test excluding retirement products is "crazy": Podcast

CASSANDRA BALDINI  |  THURSDAY, 29 JUN 2023
Industry Super Australia deputy chief executive Matthew Linden says the fact the amended superannuation performance test doesn't look at retirement products is a cause for concern. In the latest episode of the Financial Standard podcast, Linden said ...