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Showing 51 - 60 of 2785 results for %22SG Scheme%22

2024 to be a watershed year: FAAA

JAMIE WILLIAMSON  |  THURSDAY, 11 JAN 2024
... which impact on members' costs of doing business, including the ASIC levy, and the implementation of the Compensation Scheme of Last Resort (CSLR)," Abood said. "Another key area of focus will be the use of technology in financial planning, where ...

Court fines Linchpin, Endeavour directors

KARREN VERGARA  |  THURSDAY, 11 JAN 2024
... included failing to obtain member approval for related-party loans, and exercise care and diligence. In 2019, the registered scheme operated by Endeavour and the unregistered scheme operated by Linchpin - both called the Investport Income Opportunity ...

Investors livid over fresh portfolio valuation: Mayfair 101

JAMIE WILLIAMSON  |  WEDNESDAY, 10 JAN 2024
... of 200-plus properties in 2019. In early 2020, ASIC froze Mayfair's assets and operations over concerns it was a Ponzi scheme. Many of the properties were handed over to receivers who have since sold them. Now, according to CoreLogic, the three main ...

AFCA reports unprecedented complaint spike

ANDREW MCKEAN  |  TUESDAY, 9 JAN 2024
... unable to resolve disputes with financial firms in 2023. This marks the first time Australia's financial dispute resolution scheme crossed the 100,000-complaint threshold in a single year, reflecting a 23% increase from the previous year's figures. This ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
The board of the Compensation Scheme of Last Resort (CSLR) estimates $241 million will be needed to fund claims lodged with the Australian Financial Complaints Authority (AFCA) between November 2018 and September 2022. The CSLR is set to begin receiving ...

Mitsubishi UFJ Financial Group to acquire Link Group

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... billion for Link Group. MUFG's subsidiary Mitsubishi UFJ Trust & Banking Corporation (The Trust Bank) parties signed the scheme implementation deed today that will pay $2.26 cash for every Link share, which is inclusive of a $0.16 dividend. MUFG ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... that victims are likely to get back from the receivership alone, in the order of 35 to 40 cents in the dollar. For a Ponzi scheme that is quite a remarkable result and a credit to the receivers." Mackay Chapman acted on behalf of one client during the ...

Woodford investors approve Link redress scheme

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
Close to 100% of investors trapped in the failed LF Woodford Equity Income Fund have approved the compensation scheme under which up to $438 million will be paid by Link Fund Solutions. About 93.7% of investors - representing 96.1% of the value - voted ...

NAB, Jarden to launch NZ wealth business

CHLOE WALKER  |  THURSDAY, 14 DEC 2023
... New-Zealand-based investment bank's executive team. NAB said that through FirstCape, it aims to grow the BNZ KiwiSaver scheme by expanding product offerings, leveraging Harbour's asset management capability and BNZ's distribution network. "This is an ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
The Compensation Scheme of Last Resort (CSLR) Transitional Board named the scheme's inaugural chief executive ahead of its planned commencement next April. David Berry has been appointed chief executive of the CSLR, effective December 11. Berry is currently ...