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Showing 1 - 10 of 43 results for "BOLR"

AMP BOLR litigants face lengthy payout process

KARREN VERGARA | TUESDAY, 17 SEP 2024

Despite the Federal Court greenlighting the AMP Buyer of Last Resort (BOLR) lawsuit settlement amount, there is still a long way to go before financial advisers can have peace of mind with the payout process to potentially draw out to mid-2025. This ...

Federal Court approves AMP BOLR class action settlement

KARREN VERGARA | MONDAY, 9 SEP 2024

The Federal Court has approved the $100 million Buyer of Last Resort (BOLR) class action settlement despite some participants objecting to it, calling for a larger payout and making AMP accountable for its actions. Justice McElwaine approved the settlement ...

Litigation funder disputes AMP BOLR settlement

KARREN VERGARA | WEDNESDAY, 8 MAY 2024

The litigation funder of the AMP Buyer of Last Resort (BOLR) class action is negotiating its cut of the settlement money and could take home as much as $43 million. A notice of proposed settlement from the Federal Court shows the funder, Augusta Pool ...

AMP reports boost in IFA flows, mulls advice unit options

KARREN VERGARA | WEDNESDAY, 14 FEB 2024

... million, about a 31% improvement on the prior corresponding period. The six months saw AMP settle the Buyer of Last Resort (BOLR) and breaches of continuous disclosure obligations actions - both of which it did not admit liability to. AMP chief executive ...

What you read in 2023

JAMIE WILLIAMSON | FRIDAY, 15 DEC 2023

... leadership group to continue to take those businesses forward," AMP chief executive Alexis George said at the time. 10) AMP loses BOLR changes class action (July 5) The Federal Court ruled in favour of the AMP Financial Planning advisers who saw the ...

AMP selects new chief technology officer

CHLOE WALKER | WEDNESDAY, 29 NOV 2023

... said. Last week, AMP reached a settlement with AMP Financial Planning advisers in the long-running Buyer of Last Resort (BOLR) class action. The wealth manager will pay $100 million - an amount double what it initially provisioned. "This is an important ...

AMP to pay $100m to settle BOLR class action

JAMIE WILLIAMSON | THURSDAY, 23 NOV 2023

AMP will pay $100 million to settle the long-running Buyer of Last Resort (BOLR) class action - an amount double what it initially provisioned. The wealth manager announced this morning it has reached a settlement with AMP Financial Planning advisers ...

AMP challenges BOLR court ruling

KARREN VERGARA | WEDNESDAY, 27 SEP 2023

AMP is appealing the Federal Court's Buyer of Last Resort (BOLR) ruling that determined in favour of AMP Financial Planning advisers who saw the valuations of businesses slashed by 40%. AMP filed a Notice of Appeal in the Federal Court yesterday ...

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN | WEDNESDAY, 23 AUG 2023

... earmarked $50 million in response to a Federal Court decision regarding its contentious adjustment to Buyer of Last Resort (BOLR) terms. Its changes caused a marked reduction in the practice valuations of AMP Financial Planning advisers. In an ASX announcement ...

AMP provisions $50m in response to class action

ANDREW MCKEAN | THURSDAY, 10 AUG 2023

... of the year." In July 2023, the Federal Court ruled against AMP over its controversial change to the Buyer of Last Resort (BOLR) rules, backing AMP Financial Planning advisers who protested against the decline in their business valuations from 4x to ...

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Funds SA appoints chief investment officer

ANDREW MCKEAN

Funds SA has appointed a new chief investment officer, who will join from Hostplus, to commence in February 2025.

Australian Retirement Trust appoints new chief risk officer

ANDREW MCKEAN

Australian Retirement Trust (ART) has appointed a new chief risk officer that's set to start in March 2025.

UniSuper has 'some work to get on with' on cyber front: Chair

JAMIE WILLIAMSON

UniSuper's leadership team has touched on how the fund is strengthening its operations following the extensive system outage in May this year.

Super framework, SMSFs conducive to financial abuse: Inquiry

KARREN VERGARA

Lax superannuation laws make it too easy for perpetrators of domestic violence to access victims' retirement savings, while the current framework for self-managed super funds (SMSFs) enables financial abuse to flourish, a parliamentary inquiry found.

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