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Showing 811 - 820 of 2575 results for "Treasury"

FSC calls for CSLR claims cap

ALLY SELBY  |  FRIDAY, 14 FEB 2020
The Financial Services Council (FSC) has called for the government to cap compensation claims over financial misconduct at "reasonable levels" so as not to create a "moral hazard". In a submission to the Treasury's Compensation Scheme of Last Resort ...

FASEA extension passes

ELIZABETH MCARTHUR  |  THURSDAY, 13 FEB 2020
... Financial Adviser Standards and Ethics Authority exam and education requirements has passed the House of Representatives. The Treasury Laws Amendment (2019 Measures No.3) Bill amends the Corporations Act so that financial advisers will have more time ...

Industry butt heads over super guarantee

ALLY SELBY  |  THURSDAY, 13 FEB 2020
... head to head over Australia's super guarantee system, yet all agree it's time for an upheaval. In a submission to the Treasury's Retirement Income Review Panel, the Actuaries Institute called for universal superannuation guarantee (SG) coverage for all ...

Magellan cracks $100 billion

KANIKA SOOD  |  THURSDAY, 6 FEB 2020
The global equities powerhouse cracked $100 billion at January end but no one at their offices is popping the champagne. Magellan reported its total funds under management as $104 billion at the end of January. Just one year ago, this number was about ...

BetaShares calls for universal pension

ELIZABETH MCARTHUR  |  TUESDAY, 4 FEB 2020
... everyone, funded by superannuation contributions. The proposal was made in the company's submission to the Australian Treasury as part of its consultation with market participants on the Retirement Income Review. In collaboration with the Monash Centre ...

Industry split over super fee hike

ELIZABETH MCARTHUR, JAMIE WILLIAMSON  |  TUESDAY, 4 FEB 2020
... would only hurt AustralianSuper for accounts with balances under $4000; the number of which has not been disclosed to Treasury. In addition, the spokesperson said that AustralianSuper has been a net beneficiary of recent account reunification efforts ...

Argo Investments' profit plunges

ALLY SELBY  |  MONDAY, 3 FEB 2020
... investments in Amcor, AP Eagers, Corporate Travel Management, Downer EDI, Freedom Foods, Ramsay Health Care, Rural Funds Group, Treasury Wine Estates and Tassal Group. Argo fully exited its position in Automotive Holdings Group (taken over by AP Eagers) ...

PIMCO puts Aussie LIT on ice

KANIKA SOOD  |  MONDAY, 3 FEB 2020
The fixed income giant has pulled the brakes on its $1 billion listed investment trust, as the Treasury conducts a public consultation on stamping fees for LICs and LITs. PIMCO announced plans to raise for the LIT in November last year, in what was ...

Ongoing fees, advice fees in super to be reformed

ELIZABETH MCARTHUR  |  FRIDAY, 31 JAN 2020
... basis of non-disclosure or misrepresentation if it can show that it would not have entered into a contract on any terms. Treasury said of this point: "The draft legislation seeks to strengthen consumer protection by including the extra condition for ...

Regulators should face consequences for non-compliance: FSC

HARRISON WORLEY  |  FRIDAY, 31 JAN 2020
... Council is calling for ASIC and APRA to face consequences for failing to cooperate with one another. In a submission to Treasury on exposure draft legislation for the Financial Regulator Reform (No.2) bill, the FSC said it generally supported the bill ...