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Showing 1 - 10 of 100+ results for "ADI"

Octopus Investments bolsters team

ELIZABETH MCARTHUR  |  WEDNESDAY, 20 OCT 2021
Octopus Investments, an energy asset manager, has made several appointments after recently surpassing $1 billion in assets under management. On the sales side the firm recently appointed Tim Kok to head of institutional product. Kok was previously an ...

FAR draft legislation released

KANIKA SOOD  |  MONDAY, 19 JUL 2021
The government on Friday released the draft legislation for the Financial Accountability Regime (FAR) which will apply to superannuation funds and insurers. The FAR extends the Banking Executive Accountability Regime (BEAR) which has applied to banks ...

Be ready for negative rates: APRA to ADIs

JAMIE WILLIAMSON  |  MONDAY, 12 JUL 2021
... Reserve Bank of Australia being confident it's unlikely interest rates will enter negative territory, APRA is consulting on ADI's preparedness for such an event. Saying the regulator's standpoint does not preclude the possibility of zero or negative ...

ASIC bans adviser over $5m fraud

ELIZABETH MCARTHUR  |  TUESDAY, 8 JUN 2021
ASIC has permanently banned former Sentinel Wealth financial adviser Gavin Fineff, after he was charged with misappropriating between $3.3 and $5 million of client money. On May 7, Fineff was arrested and charged by New South Wales Police with 18 offences ...

Catholic Super bank implements Temenos

KANIKA SOOD  |  MONDAY, 12 APR 2021
... December 2020, Challenger said it would spend $35 million to buy Catholic Super's banking business, after considering an ADI license for two years. At the time, Bell Porter's Lafitani Sotiriou said the acquisition would give Challenger the opportunity ...

APRA outlines indemnity measures

ANNABELLE DICKSON  |  TUESDAY, 23 MAR 2021
The prudential regulator has written to authorised deposit-taking institutions (ADIs) to ensure the management of risks with indemnities in divestment transactions. APRA warns that without appropriate controls, indemnities can expose ADIs to significant ...

APRA commends super funds on tough year

ELIZA BAVIN  |  FRIDAY, 5 FEB 2021
The prudential regulator had mostly positive things to say around Australia's superannuation industry last year as it released its annual review. The APRA 2020 Year in Review highlighted the difficult circumstances faced by those under its watch, with ...

NAB swallows up neobank

ELIZA BAVIN  |  FRIDAY, 29 JAN 2021
... management company, and led by chief executive Robert Bell, 86 400 launched the mobile-led digital bank and was granted an ADI licence in July 2019. Under the acquisition agreement, its 85,000 customers, $375 million in deposits, $270 million in approves ...

Challenger welcomes board director

ANNABELLE DICKSON  |  WEDNESDAY, 20 JAN 2021
... entered into an agreement with an expected settlement date of March 2021. Challenger will fund the $35 million price plus the ADI capital requirements via a $100 million distribution in the March quarter.

Xinja returns deposits

ANNABELLE DICKSON  |  WEDNESDAY, 20 JAN 2021
... customer deposits after it withdrew its banking products and announced the return of its authorised deposit-taking institution (ADI) licence. The Australian Prudential Regulation Authority began monitoring Xinja's return of deposits, worth more than ...
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