Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 41 - 50 of 4237 results for %22Poor%22

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... large licensees against standards in Regulatory Guide 277 Consumer Remediation and found several gaps that could lead to poor consumer outcomes. Many are narrowing the remediation review period, which should begin when the licensee reasonably suspects ...

Cost-of-living crisis will persist into future: Study

KARREN VERGARA  |  FRIDAY, 15 SEP 2023
... feeling financially secure." Among the younger demographics, the cost-of-living is gravely impacting women and those with poor health. Across all age groups, the ballooning health, energy, and grocery bills are the most concerning expenditures. Most ...

Most Australian actively managed funds lag the index

ANDREW MCKEAN  |  WEDNESDAY, 13 SEP 2023
... merged or liquidated over a 15-year span. The S&P Global Australian Persistence Scorecard, released earlier this year, showed poor performance is a key indicator of future fund closures. The report demonstrated that nearly half of actively managed funds ...

AustralianSuper sued over multiple accounts

JAMIE WILLIAMSON  |  FRIDAY, 8 SEP 2023
... how trustees are monitoring and merging multiple accounts. That review urged trustees to do better on this front, saying poor practices were causing member detriment. In court documents, ASIC said that between 2019 and 2023, the super fund failed to ...

APRA finds signs of step change in remuneration practices

ANDREW MCKEAN  |  THURSDAY, 7 SEP 2023
... industry to consider improving the "insufficient rigour" in the processes that ensure remuneration consequences result from poor risk management outcomes. APRA conducted a two-phased review from September 2021 to December 2022 to assess how financial ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
ASIC continues to crack down on providers of contracts for difference (CFD), options and other high-risk products that flout their target market determinations (TMD), and design and distribution obligations (DDO). The newly published Report 770 Design ...

Government must do more after product failures: FSC, SCA

JAMIE WILLIAMSON, RACHEL ALEMBAKIS  |  FRIDAY, 1 SEP 2023
As the likes of Crescent Wealth and Insignia Financial respond to the 2023 superannuation performance test results, the Financial Services Council (FSC) and Super Consumers Australia have said the government must still do more to ensure members in underperforming ...

Magellan performance halves across the board

KARREN VERGARA  |  FRIDAY, 18 AUG 2023
... opportunities, including its FCX platform, a secure DLT-based platform for investors and private companies." Despite the poor results, Magellan chief executive and managing director David George said there are signs of performance improvement, pointing ...

Former advisers costs CBA $1.2bn in remediation

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
... insurance products, certain superannuation, and other products. About $673 million was remediated to customers suffering from poor retail and business banking services, as well as package fees, interest, and other fee remediation. CBA said that it continues ...

Are indexes the next target for greenwashing investigations?

RACHEL ALEMBAKIS  |  TUESDAY, 8 AUG 2023
... Authority (FCA) issued a letter to CEOs of index providers, warning them that in the FCA's general view, ESG disclosures are poor. "There were often instances where benchmark administrators did not provide sufficient detail and description of the ...