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Showing 41 - 50 of 755 results for "Compensation"

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
Financial advice firms are "problematically" sidestepping compensation payments after the Australian Financial Complaints Authority (AFCA) hands down a decision, using the excuse that they do not have professional indemnity insurance (PII). Out of 5400 ...

Bravura names chief executive

CASSANDRA BALDINI  |  FRIDAY, 28 JUL 2023
... position of chief executive at Class until its acquisition by HUB24 last year. Russell will receive a total fixed compensation of $750,000, complemented by a 33% short-term incentive plan. Additionally, he will receive a one-off grant of 2.5 million ...

Platinum loses $232m in FY23

CASSANDRA BALDINI  |  WEDNESDAY, 12 JUL 2023
... million. However, it flagged predictions of lower performance fees and higher expenses due to increased variable compensation costs arising. "As a result of strong investment performance for the year ended 31 March 2023, being offset by higher investment ...

Federal Reserve plans upping capital requirements

CASSANDRA BALDINI  |  TUESDAY, 11 JUL 2023
... to the recent banking stress, including how we regulate and supervise liquidity, interest rate risk, and incentive compensation, as well as improving the speed, agility, and force of the Federal Reserve's supervision. I expect to have more to say ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... requirements be reduced," he said. "Their advice should however be "good advice" - or presumably they should pay customers compensation if it is not. This would seem to be a significant step forward. Government has currently agreed, in principle, to ...

CSLR finally passes senate

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
The long-awaited Compensation Scheme of Last Resort (CSLR) has been enshrined in legislation, with consumer advocates calling it a "historic moment" for Australians. Passing the senate on June 22, the Treasury Laws Amendment (Financial Services Compensation ...

Suncorp wage scandal comes to a head

ANDREW MCKEAN  |  FRIDAY, 9 JUN 2023
... in wages and entitlements, $4.5 million in interest, and an additional $1.4 million in superannuation. Individual compensation ranged from $1 to $54,951, but the average underpayment per affected employee stood at $1687. All the remaining underpayments ...

Qantas Super appoints deputy investment chief

ELIZABETH FRY  |  FRIDAY, 12 MAY 2023
... the manager of investments. He joined the fund from WorkCover New South Wales - the statutory body for workers' compensation - where he was responsible for managing the $12 billion investment portfolio. The mid-sized asset owner is one of Australia's ...

$100bn withdrawal triggers First Republic stock plunge

ANDREW MCKEAN  |  WEDNESDAY, 26 APR 2023
... preferred stock. The bank is also taking steps to reduce expenses, including significant reductions in executive compensation, condensing corporate office space, and reducing non-essential projects and activities. Further, the bank expects to slash its ...

Adviser complaints rise, super complaints decrease

KARREN VERGARA  |  WEDNESDAY, 19 APR 2023
... complaints for the June to December period. Only 20,926 were resolved at period-end and about $106 million was paid out in compensation. Bank-related complaints comprise the lion's share (16,654), followed by general insurer (10,639) and credit provider ...