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Search ResultsShowing 71 - 80 of 100+ results for "LIC"
IOOF compensation bill soars
KARREN VERGARA  |  MONDAY, 26 OCT 2020
The former pensions and investments business of ANZ has exacerbated IOOF's client remediation bill, which has now topped $760 million. The provision for ex-ANZ P&I took the lion's share of the total remediation bill at $197.9 million. The firm ...
IOOF fund operations lead departs
JAMIE WILLIAMSON  |  THURSDAY, 22 OCT 2020
IOOF's head of fund operations has farewelled the group after more than two decades. A spokesperson for IOOF has confirmed the departure of Steven Sorraghan, head of fund operations. His leaving marks the end of a lengthy career with the group, as Sorraghan ...
Centrepoint hires recruitment lead
KARREN VERGARA  |  WEDNESDAY, 21 OCT 2020
Centrepoint Alliance has appointed a financial advice industry recruitment specialist to lead its national recruitment strategy. Charles Smith joins the ASX-listed firm as national recruitment manager. He was most recently at MLC Wealth where he spent ...
Societe Generale fined over client breaches
ANNABELLE DICKSON  |  WEDNESDAY, 21 OCT 2020
The French bank's Sydney operation has become the second company in Australia in as many months to be criminally prosecuted over breaching client money obligations. Societe Generale pleaded guilty to four counts of client money obligation breaches in ...
NAB to pay $15m for Royal Commission case study
ELIZABETH MCARTHUR  |  MONDAY, 19 OCT 2020
National Australia Bank has been ordered to pay $15 million for dealing with unlicensed home loan introducers, as revealed at the Royal Commission. ASIC brought proceedings against NAB for contravening the National Consumer Credit Protection Act, which ...
Self-licensing on the horizon
KARREN VERGARA  |  MONDAY, 19 OCT 2020
Consolidation in the financial advice industry is leading to a second wave of advisers leaving big institutions and potentially taking the self-licensing path. This is according to Centrepoint Alliance group executive of advice Paul Cullen, who said ...
APRA advises funds to review ownership structures
ELIZA BAVIN  |  FRIDAY, 16 OCT 2020
The prudential regulator has issued a letter to superannuation licensees reinforcing their obligations under the controlling stake requirements. APRA said after undertaking a review of the implementation by RSE licensees its focus has been on the interaction ...
A new model is coming: Licensees
ELIZABETH MCARTHUR  |  THURSDAY, 15 OCT 2020
At the Association of Financial Advisers' Conference, a panel of licensee executives agreed that the advice industry will be pushed towards a new model in the coming years. The panel, facilitated by CoreData founder and principal Andrew Inwood, saw ...
ASIC reviewing risk advice, pushes for scaled advice
ANNABELLE DICKSON  |  WEDNESDAY, 14 OCT 2020
The Australian Securities and Investments Commission is conducting a review of life insurance advice and plans to consult with the industry on scaled advice this year. Speaking at the Association of Financial Advisers Conference, ASIC senior executive ...
Willis Towers Watson director departs for LIC
ALLY SELBY  |  TUESDAY, 13 OCT 2020
Wilson Asset Management has nabbed Willis Towers Watsons' director of manager research and head of real assets Australia after a decade with the financial services giant, set to lead the investment manager's new alternative assets strategy. Dania Zinurova ...
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