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Showing 41 - 50 of 292 results for "Ruling"

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... took NAB over two years to stop charging these incorrect fees, which was clearly unacceptable." "An unconscionable conduct ruling, penalty and resulting remediation program demonstrates the consequences that come from not resolving an issue in a timely ...

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 ...

ASIC permanently bans David Sutton

ANDREW MCKEAN  |  TUESDAY, 4 JUL 2023
... McFaddens retain the right to contest the decision by appealing to the Administrative Appeals Tribunal, ASIC's current ruling stands firm. Sutton's ban is recorded on ASIC's banned and disqualified register.

Treasury to scrap advice admin burdens, boosts intra-fund advice

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... "Of the 22 recommendations, the government will adopt 14 recommendations in full or in principle today. We are also not ruling out any recommendations and will finalise our position on the remaining recommendations before the end of the year," he said. ...

Regulation, funding inhibits digital advice: Report

KARREN VERGARA  |  MONDAY, 22 MAY 2023
... Robo-advisers are well aware of the risks of "treading into personal advice territory, particularly after the High Court ruling in the Westpac case on general advice". While the Quality of Advice Review is expected to solve the issue of blurred regulatory ...

ESG impacts on US pension funds tested

RACHEL ALEMBAKIS  |  MONDAY, 13 FEB 2023
... (ERISA) Administrative Procedure Act, and that the rule departs from policy put in place by the previous Trump administration ruling that required that financial factors take precedence over nonfinancial or nonpecuniary factors. Paxton called the rule ...

Court ruling reiterates need to comply with AFCA

CASSANDRA BALDINI  |  WEDNESDAY, 25 JAN 2023
A court ruling has reaffirmed that financial institutions must cooperate with the Australian Financial Complaints Authority (AFCA) or face penalties. The ruling came in a case ASIC brought against home finance companies, General Commercial and Eden ...

AMG Super to take on fledgling super product

JAMIE WILLIAMSON  |  TUESDAY, 6 DEC 2022
The superannuation offering of an ASX-listed fintech will merge with AMG Super later this month following a ruling by its trustee. Raiz Invest Super, the super solution offered by micro investing platform Raiz, will become a division of AMG Super on ...

Perpetual appoints head of equities

ANDREW MCKEAN  |  MONDAY, 21 NOV 2022
... agreed to revise the cash and scrip considerations of the deal, with both to be reduced. Additionally, a Supreme Court ruling determined that a $23 million break free wasn't Pendal's exclusive remedy should Perpetual renege on the deal. The court ...

Pendal, Perpetual amend deal terms

JAMIE WILLIAMSON  |  THURSDAY, 17 NOV 2022
... Pendal Group and Perpetual have confirmed the terms of their takeover deal have changed, in addition to the Supreme Court ruling that Pendal could rightfully seek more than a break fee if the deal goes south. Both parties have agreed to revise the cash ...