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Showing 581 - 590 of 1611 results for "Prudent"

Superannuation to face BEAR: Hayne

KARREN VERGARA  |  TUESDAY, 5 FEB 2019
... protection and market conduct matters. APRA would be responsible for initiating civil penalty proceedings. "It would be prudent to enable both ASIC and APRA to seek disqualification of accountable persons if they are satisfied that an accountable person ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne took a hard-line against hawking superannuation products and the practices of "treating" employers in his final Royal Commission report. Hayne wants the hawking or unsolicited offer of superannuation products to be prohibited ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Royal Commission final report recommends the roles of ASIC and APRA be adjusted when it comes to superannuation oversight. A new independent body will also oversee the regulators. Releasing his final report into Misconduct in the Banking, Superannuation ...

Former ACCC chair will lead APRA capability review

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Federal Government has appointed a former Australian Competition and Consumer Commission chairman to lead a capability review of the Australian Prudential Regulation Authority. Responding to the Royal Commission's final report into Misconduct ...

Wealth group acquires asset manager stake

KARREN VERGARA  |  FRIDAY, 25 JAN 2019
Aura Group has acquired a majority stake (55%) in Vantage Point Asset Management in a bid to expand its funds management businesses. Aura said the acquisition will diversify its products to include more liquid absolute-return funds and provide Vantage ...

Global asset manager names regional head

JAMIE WILLIAMSON  |  FRIDAY, 25 JAN 2019
A $684 billion investment manager is welcoming a new head of Asia Pacific. Columbia Threadneedle Investments has promoted Jon Allen to the role, replacing Raymundo Yu. Allen was previously head of distribution in the region, in addition to overseeing ...

ANZ, IOOF revise wealth sale agreement

JAMIE WILLIAMSON  |  TUESDAY, 15 JAN 2019
The sale of ANZ's pensions and investments business may take longer than anticipated with contracts now amended following APRA's regulatory action against IOOF. Providing a further update on the sale, ANZ said it has agreed an amendment with ...

Chief economist update: Safe as burning houses

BENJAMIN ONG  |  MONDAY, 14 JAN 2019
"As safe as houses" is generally an expression which means with no risk of failure. The US sub-prime crisis (circa 2008-2009) showed us this is no longer the case. The continued drop in Australian property prices provides a warning sign that it could ...

APRA, ASIC welcome Productivity Commission's superannuation report

HARRISON WORLEY  |  FRIDAY, 11 JAN 2019
The regulators overseeing financial services in Australia have welcomed the Productivity Commission's recommendations to grant them additional powers. After they were blasted in the Productivity Commission's final report into the efficiency and competitiveness ...

IRESS lead moves to Chi-X

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
Chi-X has snapped up IRESS's head of institutional and online trading services as it builds its team. Adrian Fyffe was appointed to the role of business development executive at Chi-X just before the holidays. He has over 10 years of experience ...