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Showing 981 - 990 of 2988 results for "ARRA"

BT faces fees for no service class action

ELIZABETH MCARTHUR  |  FRIDAY, 6 SEP 2019
Westpac confirmed it has received a class action filed against BT Funds Management and Westpac Life Insurance Services in relation to BT's Super for Life cash investment option. Slater & Gordon filed the action on behalf of Tracey Ghee. Westpac ...

YBR to remediate wealth clients

KARREN VERGARA  |  FRIDAY, 30 AUG 2019
Yellow Brick Road is expecting to compensate wealth clients close to $1 million for failing its fee disclosure statements obligations. During the 2019 financial year, the ASX-listed firm identified some advice clients with ongoing fee arrangements may ...

No extension to FASEA deadline

JAMIE WILLIAMSON  |  WEDNESDAY, 28 AUG 2019
Assistant Minister for Financial Services, Superannuation and Financial Technology Jane Hume has failed to announce an expected extension to the FASEA deadline but has assured the industry the government is not looking to force experienced financial ...

ASIC clamps down on poor advice, grandfathered commissions

KARREN VERGARA  |  WEDNESDAY, 28 AUG 2019
ASIC warned it will clamp down on financial advice misconduct and ensure it sees an end to grandfathered commissions. The corporate watchdog outlined its priorities for the advice sector between now and 2023 in its recently released Corporate Plan. ...

CommInsure sale stalls, sold for discount

KARREN VERGARA  |  FRIDAY, 23 AUG 2019
The Commonwealth Bank will sell its life insurance business for $150 million less than originally agreed as the sale experiences delays and regulatory roadblocks. The banking group today announced its divestment of CommInsure Life to AIA Group is facing ...

Midwinter acquired by Bravura

JAMIE WILLIAMSON  |  FRIDAY, 23 AUG 2019
Bravura Solutions has acquired financial planning software provider Midwinter for $50 million. For a total consideration of $50 million, Bravura has entered into an agreement to acquire Midwinter Financial Services, one of the leading providers of financial ...

ASIC bans SMSF business director

HARRISON WORLEY  |  THURSDAY, 22 AUG 2019
ASIC banned the director of a firm allowing people to illegally access their superannuation early to buy a home. The corporate regulator slapped Max David Goldenberg with an eight year ban from providing financial services and engaging in credit activities ...

ASIC to review end of grandfathering

ELIZABETH MCARTHUR  |  WEDNESDAY, 21 AUG 2019
ASIC will review the progress of transition away from grandfathered conflicted remuneration arrangements for financial advisers. Announced today, the review follows the government's commitment to end the practice by January 2021. ASIC said it will review ...

Kogan Super launches

KARREN VERGARA  |  WEDNESDAY, 21 AUG 2019
Kogan's low-cost, online-led superannuation fund backed by Mercer Australia has launched today. The two firms flagged their partnership to launch Kogan Super late last year, promising a "new no frills, ultra-low fee" offering that will disrupt the ...

Super fund renews admin contract

ELIZABETH MCARTHUR  |  WEDNESDAY, 21 AUG 2019
A $57 billion industry superannuation fund has renewed its administration contract, continuing a long-held relationship with Link Group. Rest has renewed its arrangements with Link Group for a term of 3 years and 8 months and includes an option for ...