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Showing 81 - 90 of 417 results for "Big four banks"

Banks to answer for Hayne report

JAMIE WILLIAMSON  |  MONDAY, 8 OCT 2018
The chief executives of Australia's big four banks will head to Canberra to face questioning over the findings published in Commissioner Kenneth Hayne's interim report. The House of Representatives Standing Committee on Economics will commence its next ...

AMP, banks respond to RC interim report

HARRISON WORLEY  |  FRIDAY, 28 SEP 2018
AMP and Australia's big four banks have responded to the Royal Commission's interim report on misconduct in the financial services sector. The report, released on Friday, was scathing in its review of Australia's major players in financial services. ...

Future Fund delivers 9.3%, increases risk moderately

KANIKA SOOD  |  WEDNESDAY, 29 AUG 2018
... it, if any change occurs, it will not apply to the Future Funds or the industry funds." He said he expects the big four banks to raise rates out of the cycle, as their overseas funding costs rise. Several smaller banks, including Bendigo and Adelaide ...

Fees for no service remediation passes $250 million

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
Financial institutions outside the big four banks and AMP have been integrated into ASIC's fees for no service remediation programs, with total provisions likely to exceed $850 million. Updating the financial services industry and consumers on its oversight ...

ASIC staff to investigate institutions from the inside

JAMIE WILLIAMSON  |  TUESDAY, 7 AUG 2018
... powers via funding from the Federal Government, a sizeable chunk of which will be used to embed staff within the big four banks and AMP. The Federal Government announced it is injecting a further $70.1 million into ASIC to ensure it is well resourced ...

Airlie backs financials but wary on banks

DARREN SNYDER  |  THURSDAY, 26 JUL 2018
... Management and its first pitch to retail investors includes an investment thesis which currently excludes three of the big four banks from its concentrated Australian share portfolio. Magellan's acquisition of Airlie Funds Management allowed the ...

Bank customer trust plummets: Research

KARREN VERGARA  |  TUESDAY, 26 JUN 2018
... Customer Owned Banking Association (COBA) found less than half (47%) of the 1000 participants it canvassed trust the big four banks. Australians are more likely to trust building societies (15%), mutual banks (17%) and credit unions (18%), it said. COBA ...

Dover exit renews self-licensing calls

ALEX BURKE  |  MONDAY, 25 JUN 2018
... licensee before Dover, and/or do other assessments of the person's competence." On the institutional side, with the big four banks largely unwinding their advice operations and AMP under increased scrutiny - IOOF declined to comment on its appetite for ...

Royal Commission to drive independent advice market: GlobalData

KANIKA SOOD  |  MONDAY, 30 APR 2018
... into a conflict-free model seems increasingly likely. This will be the biggest change to the industry since the big four banks moved into the wealth space more than 15 years ago," Hoevel said. Eighty per cent of wealth managers already agree that it ...

Royal Commission bad for super: Switzer

ALEX BURKE, JAMIE WILLIAMSON  |  FRIDAY, 27 APR 2018
... funds. Supporting this, a 2017 Rainmaker pilot study of portfolio holdings disclosure by super funds found the big four banks were among the top 10 holdings of all participating super funds. "Where it gets complicated for the industry funds is that even ...