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Showing 611 - 620 of 3423 results for "Update"

Life Code update expands consumer protections

JAMIE WILLIAMSON  |  WEDNESDAY, 22 JUN 2022
The latest iteration of the Life Insurance Code of Practice features more than 50 new consumer protections, including a ban on blanket mental health exclusions and greater limits on surveillance. The updated Code follows consultation with industry ...

APRA sheds light on YFYS Performance Test

CASSANDRA BALDINI  |  THURSDAY, 16 JUN 2022
The prudential regulator has clarified Canberra's Your Future, Your Super performance test by adding new answers to its website. The test applies from July 2021, to My Super products and from July 2022 to trustee-directed products. APRA said it ...

Super industry levies insufficiently detailed: ASFA

ANDREW MCKEAN  |  WEDNESDAY, 15 JUN 2022
In a submission to Treasury about the proposed financial institution's supervisory levies for 2022-2023, ASFA has called for a more detailed dissection of APRA's regulatory activities. The industry body said: "It's incumbent upon regulators to provide ...

Defective disclosures see Avanteos Investments fined

JAMIE WILLIAMSON  |  WEDNESDAY, 15 JUN 2022
The former Commonwealth Bank subsidiary will pay a penalty of $1.71 million for failing to update defects in its disclosure documents related to charging fees to super members after they'd died. This marks the first criminal prosecution for failing ...

Hamish Douglass returns to Magellan

CASSANDRA BALDINI  |  THURSDAY, 9 JUN 2022
... of chief executive Brett Cairns and Douglass' indefinite leave of absence. In its most recent funds under management update, issued this week, Magellan reported losses of $3.6 billion and its share price has dropped dramatically in the past six months ...

Magellan shares punished after FUM drop

ANDREW MCKEAN  |  MONDAY, 6 JUN 2022
In an update to the ASX this morning, Magellan Financial Group reported that its funds under management dropped $3.6 billion in the month to May 31. Magellan's funds under management now sits at $65 billion, down from $68.6 billion at the end of April. ...

US Fed indicates several more half-percentage rate rises

ANDREW MCKEAN  |  THURSDAY, 26 MAY 2022
... assess the effects of policy firming and the extent to which economic developments warranted policy adjustments." But, in an update on the stability of the US financial system, participants judged that despite rising interest rates, Russia's invasion ...

How AMP plans to bounce back

JAMIE WILLIAMSON  |  FRIDAY, 20 MAY 2022
... business has been running at a loss in recent years and is projected to do so again this year, she said. In its recent update, AMP reported net cash outflows for the wealth management business of $1.3 billion. "We are accelerating the transformation ...

Brookfield pursues asset management spin-off

JAMIE WILLIAMSON  |  FRIDAY, 13 MAY 2022
... shareholder feedback, Brookfield has confirmed it will spin off its asset management business later this year. In a company update, Brookfield said it would own 75% of the new entity while 25% would be distributed to shareholders before the end of the ...

ASX CHESS replacement delayed again

JAMIE WILLIAMSON  |  WEDNESDAY, 11 MAY 2022
... further delays back in March, the ASX has today confirmed the CHESS replacement will not be ready by April 2023. In an update, the ASX said the April 2023 go-live is no longer viable. "This decision reflects the delay to the remaining delivery of application ...