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Showing 601 - 610 of 1337 results for "Corporations"

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
... all or any services that weren't already freely available. ASIC believes MLC Nominees and NULIS contravened the Corporations Act by failing to ensure services were provided efficiently, honestly and fairly when it deducted the $33 million in fees ...

Advisers warming up to LICs

KANIKA SOOD  |  THURSDAY, 6 SEP 2018
... compounded over 15 years, excluding dividend payouts. Three factors have led to LIC growth. In July 2010 changes to the Corporations Act which gave greater consistency to LIC dividends Then in July 2013 FoFA legislation was passed. And SMSF sector has ...

No time for complacency: AIST

KARREN VERGARA  |  WEDNESDAY, 5 SEP 2018
... will need to spread balance sheets more effectively, he said. About $95 billion per annum is lent to non-financial corporations by the banks. This presents an opportunity for the super industry to step in and potentially work in partnership, Weaven added. ...

Former MyPlanner adviser fails best interests test

JAMIE WILLIAMSON  |  WEDNESDAY, 5 SEP 2018
... related obligations, nor comply with the reasonable basis requirements for financial product advice provided under the Corporations Act prior to repeal. Under the EU, Allen is also prohibited from acting as a director or manager of any kind within an ...

Retail super funds reject MySuper delays

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
... those plans. In its submission, NAB accepts there had been a breach or likely breach of section 912A(1)(a) of the Corporations Act with respect to plan service fees (PSFs) deducted from member accounts with no linked adviser. NAB/MLC's PSF compensation ...

Advice firm rebrands, confirms independence

JAMIE WILLIAMSON  |  WEDNESDAY, 29 AUG 2018
... taking on a role at the Financial Ombudsman Service. Guided Wealth also restructured its business model to meet the Corporations Act definition of independent financial advice. Guided Wealth said it is extremely proud of the achievement, given there ...

Royal Commission challenges super regulators

KARREN VERGARA  |  TUESDAY, 28 AUG 2018
... making an appearance, Hodge said it was open to Commissioner Kenneth Hayne if they engaged in misconduct and breached corporations law. Hodge recommended Aon Hewitt may have breached the Corporations Act with regards to three financial advisers moving ...

Morgan Stanley amends false independence claims

JAMIE WILLIAMSON  |  TUESDAY, 28 AUG 2018
... payments and commissions from product issuers in relation to the provision of financial services and advice. Under the Corporations Act, use of the word 'independent' by anybody operating a financial service business or providing financial services is ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... to Commissioner Kenneth Hayne to find that NAB and its two trustees, Nulis Nominees and MLC Nominees, breached the Corporations Act and Superannuation Industry Act with respect to plan service fees (PSF) and adviser service fees charged that rendered ...

Finance sector in top three for giving: Report

HARRISON WORLEY  |  MONDAY, 20 AUG 2018
An inaugural report shining a light on Australia's most philanthropic corporations shows 39 companies collectively invested $867 million in community causes in the 2016/17 financial year, with the finance sector highlighted for its contribution. The ...