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Showing 51 - 60 of 210 results for "Tranche 2"

Key advice reforms still coming, Jones promises

JAMIE WILLIAMSON | WEDNESDAY, 22 NOV 2023

Minister for financial services Stephen Jones has confirmed the government remains committed to removing Statements of Advice and the Safe Harbour Steps, as well as accelerating changes to education requirements to meet increased demand for advice. ...

Paraplanners unfazed by QAR, AI: Survey

KARREN VERGARA | WEDNESDAY, 22 NOV 2023

The majority of paraplanners are not worried about artificial intelligence or the Quality of Advice Review potentially making their roles redundant, according to a new survey. This year's Paraplanner Hub and Tanngo survey finds that most paraplanners ...

Australian Retirement Trust adds $12.3bn via CBA Group Super transfer

JAMIE WILLIAMSON | MONDAY, 20 NOV 2023

Members of Commonwealth Bank Group Super (CBA Group Super) have officially transitioned to Australian Retirement Trust (ART), marking the latter's largest corporate merger. The two funds have completed the successor fund transfer, initially agreed ...

Treasury unveils advice reforms draft legislation

KARREN VERGARA | TUESDAY, 14 NOV 2023

Treasury has released long-awaited draft legislation to reduce administrative burdens of financial advisers but is missing key pieces, such as the elimination of the Best Interests Duty and the overhaul of the Statement of Advice (SoA). Released today ...

Will HNW firms re-enter retail advice?

KARREN VERGARA | WEDNESDAY, 1 NOV 2023

Two major high-net-worth financial advice firms laud the Quality of Advice Review's promises of drastically reduced scrutiny and red tape but have stopped short of saying that they will re-enter the retail client space. JBWere Australia began exiting ...

AMP settles class action for $110m

KARREN VERGARA | MONDAY, 21 AUG 2023

AMP has put to bed a class action relating to fee for no service scandals and misleading regulators as exposed by the Royal Commission but claims no responsibility in settling for $110 million. The class action filed in June 2018, affected AMP shareholders ...

AMP provisions $50m in response to class action

ANDREW MCKEAN | THURSDAY, 10 AUG 2023

Amid the Financial Adviser Class Action fallout, AMP has suspended its capital return, with a resolution expected by year-end. AMP has set aside a $50 million provision, reflecting its preliminary assessment of potential liabilities associated with ...

Sequoia expands professional services arm

CASSANDRA BALDINI | WEDNESDAY, 12 JUL 2023

The listed wealth group will acquire and merge the businesses of Castle Corporate and Castle Legal for $3.15 million. Castle Corporate assists accountants, financial advisers, and lawyers with the formation of companies, trusts, and self-managed super ...

Institutions must raise the bar on cybersecurity resilience: APRA

CASSANDRA BALDINI | THURSDAY, 6 JUL 2023

Insights from APRA expose a lack of compliance with cybersecurity obligations is leaving hundreds of institutions open to financial crime. The regulator plans to have assessed more than 300 banks, insurers and super trustees' compliance with CPS 234 ...

Super performance test consultation opens

KARREN VERGARA | WEDNESDAY, 5 APR 2023

Assistant treasurer Stephen Jones has opened consultations that aim to make the superannuation performance test more accurate by updating the benchmarks and extending the testing period. These are among the proposed changes to the Your Future, Your ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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