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Showing 581 - 590 of 893 results for "Failing"

Not our job to protect big insurers: APRA

ALEX BURKE  |  FRIDAY, 31 MAR 2017
... companies should be taken as a warning to established players - and APRA isn't going to protect outdated business models from failing. APRA member and former Suncorp Life chief executive Geoff Summerhayes issued this warning at the 2017 Financial Services ...

ASIC cancels AFSL licences

EMMA RAPAPORT  |  MONDAY, 27 MAR 2017
... responsibilities." In addition to the cancellations, ASIC has suspended the AFS licence for KABM until 1 May 2017, for failing to lodge financial statements and auditor's reports for three consecutive years. KABM, the owners of Sports Super, was established ...

Barclays fined following ASIC investigation

JAMIE WILLIAMSON  |  FRIDAY, 24 MAR 2017
ASIC accepted enforceable undertakings from three Barclays foreign financial service providers for failing to inform Australian clients they were exempt from holding an AFSL. The enforceable undertaking was accepted following concerns that the Barclays ...

Profit-to-member super funds must restore trust: AIST

EMMA RAPAPORT  |  WEDNESDAY, 22 MAR 2017
... 2017 Edelman global trust barometer, Scheerlinck made note of the 59% Australians who believe the democratic system is failing them, saying that this leaves the door open for profit-to-member funds to lead the way. "With a higher trust score than government ...

Adviser contravenes FoFA obligations

EMMA RAPAPORT  |  MONDAY, 20 MAR 2017
... Commission Act. This includes alleged breaches of the best interests obligations, engaging in unconscionable conduct, and failing to hold a current AFSL license. ASIC alleges that on numerous occasions since December 2015, WRM advisers have provided ...

Credit Suisse fined for systems mishap

KARREN VERGARA  |  THURSDAY, 16 MAR 2017
... Investment bank Credit Suisse was slapped with a $170,000 fine from the Australian Securities and Investment Commission for failing to have the appropriate price limits in place across its automated order processing (AOP) systems. The watchdog found ...

Past Morgan Stanley adviser hit with permanent ban

JAMIE WILLIAMSON  |  MONDAY, 13 MAR 2017
A former Morgan Stanley Wealth Management adviser was permanently banned for failing to act in the best interests of clients and providing inappropriate advice. Employed by Morgan Stanley between January 2013 and May 2015, Andrew Peter Panayiotides ...

Active returns at their worst since 2009

ALEX BURKE  |  WEDNESDAY, 22 FEB 2017
... underperformed over a 10-year period. International equity funds have continued their general trend of underperformance, with 86% failing to beat the S&P Developed Ex-Australia LargeMidCap Index over one year, 93% over five years and 89% over 10. In ...

CBA caught out on unpaid super

JAMIE WILLIAMSON  |  TUESDAY, 21 FEB 2017
... additional superannuation contributions. "The CBA has been ripping off some of its lowest paid staff since at least 2009 by failing to pay them the full Superannuation Guarantee Levy and we are committed to make sure the bank pays up," FSU national secretary ...

Fintech investment needs balance: APRA

EMMA RAPAPORT  |  WEDNESDAY, 15 FEB 2017
... information that masks their true identity. Similarly, financial firms using automated profiling processes can run the risk of failing to "know-the-client" well enough to make suitable investment recommendations," the report noted. In their recommendations ...