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Showing 811 - 820 of 8495 results for "Los"

Adviser cops 10-year sentence

KARREN VERGARA  |  FRIDAY, 6 OCT 2023
A former financial adviser who took more than $10 million from clients to fund his lavish lifestyle will spend the next 10 years in jail. Judge Wraight sentenced Terence Rio Nugara to nine years and 11 months imprisonment at the Victoria County Court ...

GARDA Property Group confirms $30.5m loss

CASSANDRA BALDINI  |  FRIDAY, 6 OCT 2023
GARDA Property Group's sale of two Melbourne office buildings to Sentinel Property Group will see a $30.5 million loss. The group confirmed it has entered into a binding heads of agreement with Sentinel to sell both properties, valued at $110.5 ...

Platform fees, poor resourcing a red flag for regulator

JAMIE WILLIAMSON  |  TUESDAY, 3 OCT 2023
The chief executives of major platform operators in the UK have received letters from the regulator, flagging concerns around poor disclosure of fees and under-investment in technology. In the letter, the Financial Conduct Authority's director of consumer ...

PwC chief executives hold too much power: Review

CASSANDRA BALDINI  |  THURSDAY, 28 SEP 2023
Too much power has rested in the hands of PwC chief executives, who are elected in a presidential-style campaign and, other than maintaining popularity, have unchecked authority, an independent review has found. The report by former Telstra boss Ziggy ...

ASIC fines fintech for misrepresenting crypto product

CASSANDRA BALDINI  |  WEDNESDAY, 27 SEP 2023
Local fintech Bobbob has paid $53,280 to resolve infringement notices issued in response to misleading claims it made about a crypto-asset linked investment product. Over an eight-month period, a product known as the Savings Product was offered, attracting ...

Bridges adviser base drops 20%

KARREN VERGARA  |  WEDNESDAY, 27 SEP 2023
Bridges Financial Services continues to bleed advisers, losing nearly 20% of its authorised representatives this month, as parent company Insignia Financial ramps up its restructure. Twenty-three Bridges authorised representatives ceased on the ASIC ...

AMP challenges BOLR court ruling

KARREN VERGARA  |  WEDNESDAY, 27 SEP 2023
AMP is appealing the Federal Court's Buyer of Last Resort (BOLR) ruling that determined in favour of AMP Financial Planning advisers who saw the valuations of businesses slashed by 40%. AMP filed a Notice of Appeal in the Federal Court yesterday ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
Many large licensees are failing to proactively remediate clients in a fair and timely manner, operating under a framework that lacks appropriate oversight and accountability. ASIC measured large licensees against standards in Regulatory Guide 277 Consumer ...

Advisers boost client portfolios 5.9%

KARREN VERGARA  |  MONDAY, 25 SEP 2023
The expertise of financial advisers can make a 5.9% difference in the value of client portfolios compared to those who are non-advised. According to Russell Investments' 2023 Value of an adviser report, not only can advisers help boost client assets ...

NextGen Financial Group forced into liquidation

KARREN VERGARA  |  MONDAY, 25 SEP 2023
After ignoring an Australian Financial Complaints Authority (AFCA) determination, which was then escalated to the Federal Court, NextGen Financial Group is now in the process of winding up. WJ & V Drakoulis Super, the trustees of the SMSF that sued ...