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Showing 631 - 640 of 6479 results for "Fed"

Federal Reserve plans upping capital requirements

CASSANDRA BALDINI  |  TUESDAY, 11 JUL 2023
The US Federal Reserve has proposed a regulatory overhaul in which the nation's largest banks would be forced to hold more capital in hopes future meltdowns in the sector can be prevented. Federal vice chair for supervision Michael Barr outlined ...

AMP loses BOLR changes class action

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
The Federal Court this morning has ruled in favour of disgruntled AMP Financial Planning advisers who saw the value of their practices deteriorate after the parent company controversially changed its Buyer of Last Resort (BOLR) rules. In handing down ...

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
The disgraced director of Select AFSL, the company the Hayne Royal Commission exposed for hawking life and funeral insurance to vulnerable customers, has been banned from managing a company for five years, while his companies were fined $13.5 million. ...

Allegro unveils PwC entity as Scyne Advisory

CASSANDRA BALDINI  |  TUESDAY, 4 JUL 2023
Embattled PwC's Australian public sector advisory business will remerge as Scyne Advisory following its takeover from private equity firm Allegro Funds. Allegro funds confirmed the new business, which it acquired for $1, will be fully independent ...

ASIC deepens investigation into Magnolia founder

KARREN VERGARA  |  FRIDAY, 30 JUN 2023
The Federal Court has extended the travel ban on Magnolia Capital's founder as he faces an ASIC investigation that alleges $40 million of investor money has gone missing. Mitchell Atkins, also the managing director and chief investment officer of Magnolia ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
The federal government will lift the financial adviser levy freeze as it unveils recommendations that make minor changes to the industry funding model following a review. Assistant treasurer and minister for financial services Stephen Jones yesterday ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
An academic has raised concerns about the impact anti-hawking laws will have on superannuation funds' ability to provide financial advice amid the federal government's proposal to open advice to other channels. Anthony Asher, an associate professor ...

IFM Investors names chair

CHLOE WALKER  |  MONDAY, 26 JUN 2023
Cath Bowtell will become IFM Investors' new chair, as former politician Lindsay Tanner joins the board as an independent director. Bowtell, who currently serves as the group's deputy chair, chair of the people and remuneration committee and ...

Advisers embrace less back-office burden

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
Financial advisers have welcomed the elimination of many back-office inefficiencies under the federal government's adoption of the Quality of Advice Review recommendations. Some of the QAR recommendations assistant treasurer Stephen Jones flagged ...

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 ...