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Showing 911 - 920 of 2689 results for "Fair"

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
Westpac has been ordered by the Federal Court of Australia to pay $9.15 million over poor financial advice provided by just one former adviser. The court case relates to poor financial advice provided by Sudhir Sinha which breached the best interest ...

Concerns over cancelled ASFL complaints

ELIZA BAVIN  |  THURSDAY, 19 DEC 2019
ASIC has cancelled the AFSL of KP International Group after the regulator suspended it earlier this year, but concerns remain. ASIC said after the suspension, KP International advised the regulator that all relevant officers of the company had resigned ...

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
ASIC has launched civil penalty proceedings against NAB in the Federal Court over fees-for-no-service, which the bank continued to charge after the Royal Commission. The corporate regulator is seeking to find NAB made several thousand contraventions ...

CBA underpayments reach $53 million

ELIZA BAVIN  |  MONDAY, 16 DEC 2019
... with interest and, where applicable, superannuation," Comyn said. The underpayments were self-reported by the bank to the Fair Work Ombudsman in February this year, with CBA working closely with the ombudsman as it conducts its own investigation into ...

ASIC lifts ban on new opaque active ETFs

KANIKA SOOD  |  WEDNESDAY, 11 DEC 2019
... portfolio composition information by the responsible entity or its market making agent to generate an internal, non-public 'fair value' as the reference price for market making may raise market integrity risks whenever this 'fair value' ...

Industry fund pushes for simpler super splitting

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
... process of splitting super assets. HESTA said it is working with WLSV to remove barriers preventing women from claiming their fair share of superannuation when a relationship ends. HESTA chief executive Debby Blakey said dividing superannuation assets ...

ASIC suspends Melbourne-based AFSL

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
ASIC has suspended the AFSL of Melbourne-based financial services provider Australian Golden Securities until May 2020. ASIC said the licence has been suspended over concerns the company is not meeting its obligations as an AFS licensee. The regulator ...

MySuper heat map lauds industry funds

HARRISON WORLEY  |  TUESDAY, 10 DEC 2019
Industry super funds fared best in APRA's first MySuper heat map, forming the majority of products given the all clear by the regulator. APRA's MySuper heat map, released this morning, demonstrates the lead large industry super funds have over ...

ASIC bans direct life cold calling

HARRISON WORLEY  |  WEDNESDAY, 4 DEC 2019
... breached anti-hawking laws more than 300,000 times. When the period of consultation opened in July, ASIC said it was "only fair that consumers have a proper opportunity to consider which insurance product best meets their needs and the compare alterative ...

FASEA under pressure on managed accounts

ELIZABETH MCARTHUR  |  WEDNESDAY, 4 DEC 2019
The Financial Adviser Standards and Ethics Authority is under pressure to clarify its stance on all forms of managed accounts. FASEA chief executive Stephen Glenfield confirmed he has met with the Institute of Managed Account Professionals and is considering ...