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Showing 931 - 940 of 3918 results for "law"

Westpac profit jumps 138%

KARREN VERGARA  |  MONDAY, 1 NOV 2021
Westpac reported a whopping 138% jump in statutory profit to $5.5 billion in its full-year September 2021 results. The bank attributed the earnings jump to a combination of turning around impairment charges and growing its mortgages, institutional and ...

Aussies in the dark over super stapling

ANNABELLE DICKSON  |  MONDAY, 1 NOV 2021
The majority of Australians are unaware of the effects of the Your Future, Your Super (YFYS) reforms and could potentially be stapled to an underperforming fund for good. The YFYS stapling requirement comes into effect today and will see around one ...

Unpaid super tops $5bn per year: ISA

JAMIE WILLIAMSON  |  THURSDAY, 28 OCT 2021
... 12% of unpaid super; a figure ISA described as "dismal". "If the ATO is unwilling or unable to recover workers' savings the law should be changed so that employees, the Fair Work Ombudsman, and others acting on behalf of workers can," ISA said. ISA is ...

Law firm adds financial services partner

JAMIE WILLIAMSON  |  MONDAY, 25 OCT 2021
Corrs Chambers Westgarth has appointed a new partner in financial services regulatory specialist Steven Rice. Rice joined the Corrs Financial Services Group team earlier this month, based in Sydney. He specialises in financial services, financial markets ...

ASIC sues former Freedom Insurance staff

KARREN VERGARA  |  MONDAY, 25 OCT 2021
A former Freedom Insurance director and consultant will head to Federal Court for their alleged involvement in aggressive sales tactics. ASIC has commenced civil penalty proceedings against former Freedom Insurance managing director of Keith Cohen and ...

Better Advice Bill gets green light

KARREN VERGARA  |  FRIDAY, 22 OCT 2021
The landmark Better Advice Bill, which introduces a new disciplinary body, passed the senate overnight. Under the Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 (Better Advice Bill), from 1 January 2022, the Financial ...

Former Spectrum chief cops additional bans

KARREN VERGARA  |  WEDNESDAY, 20 OCT 2021
Former Spectrum Wealth Advisers chief executive Mark Schroeder has been slapped with banning orders in addition to his six-year ban from providing financial services. The Administrative Appeals Tribunal amended ASIC's banning order that was handed down ...

Advisers query super changes

ANNABELLE DICKSON  |  TUESDAY, 19 OCT 2021
Financial advisers have been focused on mitigating the impacts of COVID-19 on superannuation for their clients, according to BT. BT's technical team received over 2000 enquiries from advisers in the September quarter and the most asked question was ...

ASIC eyes employee super fund choice

KARREN VERGARA  |  MONDAY, 18 OCT 2021
... cannot do, which sets out how employers should communicate to their employees about superannuation choices without breaking the law. Employers for example must not communicate in a way that leads to financial product advice about the employees' superannuation ...

Industry slams Future Fund disclosure exemption

JAMIE WILLIAMSON  |  FRIDAY, 15 OCT 2021
The super industry is calling for mandated consistency on portfolio holdings disclosure after it was recommended the Future Fund be exempt from disclosing commercially sensitive information. The Senate Committee report released this week on disclosure ...