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Showing 681 - 690 of 1893 results for "CIRC"

Sovereign fund withdraws bid for Newcastle United

ANNABELLE DICKSON  |  FRIDAY, 31 JUL 2020
A consortium including Saudi Arabia's Public Investment Fund (PIF) has withdrawn its £300 million takeover of English Premier League team Newcastle United Football Club. The buyer consortium also included PCP Capital Partners and Reuben Brothers and ...

Wealth manager takes massive profit hit

ELIZA BAVIN  |  FRIDAY, 31 JUL 2020
A global pandemic and subsequent market volatility have hit wealth manager AMP, taking a near 50% profit hit compared to the same period last year. AMP provided an update on its 2020 interim operating earnings to the ASX, citing the impact from market ...

Macquarie fired 32 people in "consequence management"

ELIZABETH MCARTHUR  |  THURSDAY, 30 JUL 2020
During the Macquarie Group annual general meeting and results update chair Peter Warne touched on the bank's "consequence management", highlighting the consequences of inappropriate behaviour. He said that in financial year 2020, there were 164 matters ...

Hobart adviser cops ban

ALLY SELBY  |  WEDNESDAY, 29 JUL 2020
ASIC has banned a Hobart-based financial adviser from providing financial services for five years after he encouraged clients to inappropriately double gear their investments. Meritum Financial Group authorised representative David Horton has been banned ...

What to expect from the Retirement Income Review

KANIKA SOOD  |  FRIDAY, 24 JUL 2020
With the much-awaited final report expected to be handed down today, all eyes are on its findings. Here's what Rice Warner and Grattan Institute are expecting from it. A draft of the report was not circulated for stakeholder comment and the review ...

NULIS calls for clearer regulatory definitions

ELIZA BAVIN  |  FRIDAY, 24 JUL 2020
NULIS said it intends to explore opportunities to enhance its intra-fund advice offering, but requires more concise regulatory definitions before it can proceed. In a written response submitted to the House of Representatives Standing Committee on Economics ...

UBS to cough up $14m over bond bungle

ALLY SELBY  |  THURSDAY, 23 JUL 2020
UBS will cough up more than $14 million (US$10 million) after the US Securities and Exchange Commission found it had violated rules giving retail investors priority in municipal bond offerings. According to the SEC, UBS improperly allocated bonds intended ...

ASIC will not appeal wagyu and shiraz decision

ANNABELLE DICKSON  |  THURSDAY, 23 JUL 2020
The corporate regulator has announced it will not appeal to the High Court's rejection ofits case against Westpac for alleged responsible lending breaches. ASIC commenced federal court proceedings against Westpac in 2017 alleging that between December ...

No such thing as a free lunch: Lowe

ELIZA BAVIN  |  WEDNESDAY, 22 JUL 2020
Reserve Bank of Australia governor Philip Lowe has said the government will likely need to borrow more money, but warned the central bank will not directly provide funding. Giving his annual address to the Anika Foundation, Lowe stressed that while ...

Financial institution charged over Epstein scandal

ELIZA BAVIN  |  THURSDAY, 9 JUL 2020
The US Department of Financial Services (DFS) has hit Deutsche Bank with a US$150 million penalty for the bank's relationship with disgraced financier Jeffrey Epstein. This marks the first enforcement action by a regulator against a financial institution ...