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|The odds of a country suffering a banking crisis are 2.5 times higher if it is affected by a conflict, according to research from the International Monetary Fund (IMF). IMF economist Rasmane Ouedrago and senior resident representative in South Africa ...|
|... increased to near record highs throughout the pandemic as a result of government fiscal stimulus measures, according to ME Bank's latest Household Financial Comfort Report. Household financial comfort increased 3% to 5.76 out of 10 in the six months ...|
|ME Bank chief executive Jamie McPhee has resigned after weathering scrutiny over the bank's adjusting of redraw facilities for mortgage customers and its relationship with the industry funds that own it. McPhee, who has been chief executive for ...|
|The US Department of Financial Services (DFS) has hit Deutsche Bank with a US$150 million penalty for the bank's relationship with disgraced financier Jeffrey Epstein. This marks the first enforcement action by a regulator against a financial institution ...|
|... service to the superannuation sector, to women, and to trade unions. Additionally, chair of Kirwood Capital and director of ME Bank, Christine Christian was recognised for her services to the financial and investment sectors, as well as to women in business. ...|
|At a hearing of the House of Representatives Standing Committee on Economics that was supposed to focus on ME Bank's recent troubles, the super funds performing poorly in terms of early release copped surprise criticism. APRA had advised that early ...|
|Liberal MP Tim Wilson has asked to recall ME Bank to the House of Representatives Standing Committee on Economics after correspondence with ASIC for a hearing later this week. During ME Bank chief executive James McPhee's appearance at the last committee ...|
|... structures that raises questions about their fulfilment of the sole purpose test (such as allocating significant capital to ME Bank when it has never returned a dividend), conflicts of interest (such as heavy exposure to ISPT and IFM Investors) and low ...|
|MP Tim Wilson has argued industry super funds' ownership of ME Bank is at odds with the sole purpose test as the bank has yet to pay dividends. Following ME Bank's controversial decision to slash redraw balances on some legacy home loans, and ...|
|Industry Super Australia and ME Bank will front the House of Representatives Standing Committee on Economics on Thursday for an urgent hearing. The call for explanations from the bank and ISA comes following news that ME Bank, which is owned by 26 industry ...|
There is a good chance the planned superannuation guarantee increase to 12% will be deferred again as the nation continues to struggle with the effects of COVID-19, according to Mercer senior partner David Knox.
BetaShares' ETF that tracks crude oil futures is once again changing the length of contracts it tracks and is taking extra measures to automatically convert the ETF to all cash if oil futures drop significantly again.
The global fund manager saw its profits tumble 196% following net outflows of close to $19 billion in the first half of this year, resulting in heavy hits to fee and commission income.
Chi-X TraCRs and funds will now be offered on a privately owned wealth management platform, granting financial advisers and their clients access to some of the world's biggest listed companies.
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