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Showing 841 - 850 of 6453 results for "regulatory"

Queensland-based financial firm loses AFSL

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
A Queensland-based financial services business has lost its Australian financial service licence (AFSL) following its failure to comply with licensee obligation. ASIC revoked the AFSL of Next Generation Advice (in liquidation) (Next Gen) after the Queensland ...

ClearView announces executive changes

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
... secretary and leads ClearView's legal and risk and compliance functions. She is responsible for corporate affairs and regulatory engagement, ClearView said. ClearView managing director Nadine Gooderick said Beaumont's appointment reinforces the organisation's ...

APRA questioned on super performance test

ELIZA BAVIN  |  FRIDAY, 25 OCT 2024
APRA has been questioned by the House of Representatives around how it monitors superannuation fund performance and whether there should be more focus on fees over returns. Independent MP Allegra Spender questioned APRA deputy chair Margaret Cole on ...

Operational risk reserve targets trimmed for larger funds

JAMIE WILLIAMSON  |  THURSDAY, 24 OCT 2024
... amount lower than 0.25% of FUM," it said. "APRA's approach is intentionally simple, including an intent to reduce regulatory burden on RSE licensees in circumstances where there may not be commensurate prudential benefit." However, trustees will ...

Down but not out: Busting defined benefit myths

ANDREW MCKEAN  |  WEDNESDAY, 23 OCT 2024
... locked in and cannot be altered. This adds security for members, given that insurers operate under strict actuarial and regulatory standards, which offer more protection than if the liabilities remain with the original corporate sponsor, she said. In ...

Citi Australia snags J.P. Morgan executive

MATTHEW WAI  |  WEDNESDAY, 23 OCT 2024
... Elizabeth to Citi. Elizabeth brings great experience to this role and has a deep understanding of the local client and regulatory landscape," Woodruff said. "I look forward to her contribution to our leadership team and her contribution to the local ...

APRA prioritises supervision of trustee spending

JAMIE WILLIAMSON  |  TUESDAY, 22 OCT 2024
The prudential regulator is clamping down harder on super trustees' spending, saying it has identified "deficient" and "questionable" practices among funds. APRA deputy chair Margaret Cole has informed all RSE licensees that it will be intensifying ...

Regal indicted for alleged short-selling breach

KARREN VERGARA  |  MONDAY, 21 OCT 2024
Regal Partners has been indicted by the South Korean securities watchdog after a former employee allegedly breached the country's tough short-selling rules. The Korean Prosecutor's Office issued an indictment against Regal and its former employee ...

ESSSuper shifts members to new default option

KARREN VERGARA  |  MONDAY, 21 OCT 2024
ESSSuper is moving members in its default investment option to the newly launched Balanced Growth Managed option. Members currently in the Balanced option will move to the Balanced Growth Managed option for Accumulation Plan and beneficiary accounts ...

Super fund fees exploit Australians' low financial literacy

ANDREW MCKEAN  |  WEDNESDAY, 16 OCT 2024
... charged by some. In 2021, Australians paid over $32 billion in fees to super funds, according to Rainmaker Information. "Regulatory guidance exists for disclosure documents or a fund's MySuper dashboard, but when it comes to how fees are presented ...