Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 81 - 90 of 686 results for %22Interests First%22

Court dismisses CBA, CFS conflicted remuneration case

JAMIE WILLIAMSON  |  THURSDAY, 29 SEP 2022
... Court said. "ASIC will continue to work to ensure retail clients receive appropriate advice, that aligns with their interests."

Current legislation "wrong way around": Levy

CASSANDRA BALDINI  |  THURSDAY, 22 SEP 2022
Quality of Advice Review chair Michelle Levy believes providing financial advice with a focus on best interests duty and duty of priority is doing things the wrong way. Commenting on her proposal to replace the best interests duty and duty of priority ...

BFID no hindrance to helping vulnerable members: Panel

CHLOE WALKER  |  WEDNESDAY, 7 SEP 2022
... doing more for vulnerable members, while ASIC commissioner Danielle Press agreed and pointed out that the best financial interests duty actually allows for different members to be treated differently. "Vulnerability can be intrinsic or as a result of ...

APRA aims to bolster financial crisis response

CASSANDRA BALDINI  |  WEDNESDAY, 7 SEP 2022
... society. "Crisis preparedness and resolution planning gets to the very heart of APRA's purpose to protect the financial interests of bank depositors, insurance policyholders and superannuation members," he explained. "Although Australia has one of ...

Casey Thompson joins First Super board

ANDREW MCKEAN  |  MONDAY, 5 SEP 2022
... our continued support for workers," the fund said. "By teaming up with AFCA, we believe we can not only promote the interests of forestry workers during their careers but also better prepare them for the future."

Four MySuper products fail for second time: APRA

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
... financial year and in last year's turbulent global markets." "We continue to work in our members' best financial interests and by being part of a much larger Mercer fund BT members will have the potential to benefit from stronger performance ...

The unintended consequences of the performance test

JAMIE WILLIAMSON  |  TUESDAY, 30 AUG 2022
... achieved its intention, pushing smaller and underperforming funds to consider their future sustainability and members' best interests. However, KPMG partner, actuarial and financial risk Platon Chris says the test now presents a challenge for APRA and ...

ASIC tells super trustees to improve TMDs

ANDREW MCKEAN  |  MONDAY, 29 AUG 2022
... be acquired by consumers actively choosing their product. They don't apply to MySuper products, defined benefit interests or super products that are no longer for issue or sale. Meanwhile, as previously reported by Financial Standard, ASIC issued ...

MobiSuper, licensee to pay $250k penalty

JAMIE WILLIAMSON  |  MONDAY, 29 AUG 2022
... MobiSuper representatives had phoned customers and provided personal advice without acting in the customers' best interests and failed to warn those consumers that the advice was based on incomplete or inaccurate information. The phone calls in question ...

Mercer Super, Lutheran Super to merge

JAMIE WILLIAMSON  |  TUESDAY, 23 AUG 2022
... managed the fund's investments since 2017. Lutheran Super chair John Grocke said the merger is in the best financial interests of its 5700 members. It's expected to take place later this year. "From the outset, we have sought a merger partner ...