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Banks to face liquidity crisis "fire drills": APRA

MICHELLE BALTAZAR  |  TUESDAY, 15 SEP 2009
Starting next year, Australian banks could be subject to "fire drills" that test how well they can cope with a severe market disruption, under new liquidity reporting rules proposed by APRA. APRA has released a discussion paper that proposes major changes ...

Garvan and Apogee adopt fee for service

RUTH LIEW  |  TUESDAY, 15 SEP 2009
... MLC-backed Apogee Financial Planning and Garvan/MLC Financial Planning are transitioning to a fee for advice model from 1 July next year. In a press statement released today, MLC confirmed that both Apogee and Garvan would adopt the new model for all ...

Playing chicken with tyres

BENJAMIN ONG  |  TUESDAY, 15 SEP 2009
... 26 September, an import tariff of 35 per cent will be applied on tyre imports. The tariff will be reduced to 30 per cent next year and 25 per cent the year after. The tariff is not meant to be "provocative or to promote self-defeating protectionism." ...

Market Wrap - Morning

AAP  |  TUESDAY, 15 SEP 2009
... cent, to 1049.34. LONDON - European stock markets were mixed as investors consolidated recent gains and waited for their next lead on the economic outlook during the traditionally volatile month of September. The markets closed above their intra-day ...

FOS swamped with complaints

MICHAEL HOBBS  |  MONDAY, 14 SEP 2009
... currently being reviewed by the regulator for approval. If the terms are approved, any disputes received after the start of next year will be handled accordingly. Theses changes include providing members with another opportunity to resolve matters directly ...

Expect the unexpected

BENJAMIN ONG  |  MONDAY, 14 SEP 2009
... of New Zealand even went so far as declaring that interest rates would remain at present levels until the second half of next year. Minutes of the Reserve Bank of Australia's Board meeting will be released tomorrow. That should be interesting given the ...

Equipsuper looks for member directors

RUTH LIEW  |  FRIDAY, 11 SEP 2009
... an online statement of the fund, the terms of office for all four current member directors are due to expire on 31 January next year. These include the terms for Paul Healey, John O'Neill, Robin Jervis-Read and Bryan Walsh. The Equipsuper Board consists ...

BNP hires head Aus and NZ

COMPANY RELEASE  |  FRIDAY, 11 SEP 2009
... operation. Jond starts his role at the end of November and will begin the hand over with Jean-Marc Pasquet when he arrives next month. Pasquet returns to Paris after being appointed head of BNP Paribas Securities Services French Territory and retains ...

Market Wrap - Morning

AAP  |  FRIDAY, 11 SEP 2009
... LONDON - European stock markets closed narrowly mixed on Thursday as investors consolidated recent gains and waited for their next lead on the economy. In London, the FTSE 100 index of leading shares finished down 16.62 per cent, or 0.33 per cent, at ...

ABN AMRO morphs into RBS Morgans

COMPANY RELEASE  |  THURSDAY, 10 SEP 2009
... said RBS Australia country executive Stephen Williams. The rebranding comes at a time when RBS Morgans is gearing up for its next growth phase, according to a press statement. New branch offices have recently opened in Melbourne and regional Queensland ...