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

Search Results

Showing 641 - 650 of 2988 results for "ARRA"

Aon, Willis Towers Watson terminate merger

ELIZABETH MCARTHUR  |  TUESDAY, 27 JUL 2021
The US$30 billion merger between Aon and Willis Towers Watson is off, with Aon paying WTW a US$1 billion termination fee. In a statement, the companies said it was a mutual agreement - though the decision was forced by lack of regulatory approval in ...

AMP shakes up advice service model

KARREN VERGARA, JAMIE WILLIAMSON  |  MONDAY, 26 JUL 2021
Among the changes announced this morning, AMP is putting an end to all Buyer of Last Resort (BOLR) arrangements at the end of the year and giving advisers the freedom to leave the network with their clients from 2022. As part of a new service model ...

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  THURSDAY, 22 JUL 2021
The corporate regulator has banned a Gold Coast-based adviser for five years and cancelled the group's AFS licence over misconduct. Adam Bevan was an authorised representative and sole director of Trade Wind Financial Services. ASIC banned Bevan after ...

UniSuper's O'Sullivan on what's next

KANIKA SOOD  |  MONDAY, 19 JUL 2021
Two months out from his last day at UniSuper, chief executive Kevin O'Sullivan talks to Financial Standard about his eight years at the fund, going public offer and staying away from mergers. O'Sullivan arrived at UniSuper in 2013, after a career ...

ASIC releases grandfathered arrangement findings

KARREN VERGARA  |  FRIDAY, 16 JUL 2021
The corporate regulator said it was pleased with how the financial advice industry ended conflicted grandfathered arrangements, with 96% of product issuers complying with the new law that took effect at the start of the year. ASIC found that 1227 financial ...

Relief payments confirmed for NSW

ELIZABETH MCARTHUR  |  WEDNESDAY, 14 JUL 2021
As the Greater Sydney lockdown is extended a further fortnight, the federal government has confirmed disaster relief payments are on the way to support businesses. "The Morrison government is upgrading its national response to COVID-19 outbreaks with ...

OnePath to remediate over pressure selling

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
OnePath Life is repaying customers to the tune of $35 million due to poor telephone sales practices. Following an ASIC intervention and action, OnePath was found to have sold life insurance over the phone between 2010 and 2016 using pressure selling ...

Hostplus deal doesn't rule out a merger: Maritime

KANIKA SOOD  |  FRIDAY, 9 JUL 2021
Appearing before a parliamentary committee, Maritime Super provided some clarity into its partnership with Hostplus. In his appearance at the House of Representatives Standing Committee on E conomics yesterday Maritime Super chief executive Peter Robertson ...

AFA slams new SOA measures

KARREN VERGARA  |  WEDNESDAY, 7 JUL 2021
The Association of Financial Advisers has hit back at ASIC and APRA for causing "confusion" and "interfering" with financial advice as they look to introduce new changes to Statements of Advice. The association points to the regulators' joint letter ...

Regulators warn trustees of super advice fee obligations

KARREN VERGARA  |  THURSDAY, 1 JUL 2021
The regulators issued a firm reminder to trustees and financial advisers to heed the new law that limits the charges on superannuation advice. From July 1, trustees and financial advisers must have the proper processes and systems in place to meet the ...