Search Results | Showing 1 - 10 of 128 results for "OMI" |
| | HESTA has come under fire, with ASIC issuing three infringement notices against the fund for purportedly publishing false or misleading performance figures about one of its investment options. The industry fund subsequently incurred a $48,600 fine for ... |
| | | Life insurers and superannuation funds continue to pin systemic issues on administrative and legacy systems that have drawn customer complaints and, in some cases, led to large compensation payouts, according to the Australian Financial Complaints Authority ... |
| | | ASIC is making changes to its reportable situations regime, which includes extending the reporting deadline for some breaches. Licensees will now have 90 days to submit a reportable situation instead of 30 days in situations that have "underlying circumstances ... |
| | | NAB will pay $2.1 million in a fine issued by the Federal Court over knowingly overcharging customers certain fees and failing to tell them. The court has ordered the bank pay the penalty for continuing to charge periodic payment fees it knew was not ... |
| | | The wealth management industry has broadly welcomed the bulk of the Quality of Advice Review recommendations Labor will prioritise, with many agreeing that the reforms will fix financial advice and ultimately benefit consumers. In releasing the first ... |
| | | Brisbane-based financial adviser Stephen Vick received the ban for recommending his clients roll over their existing superannuation to a newly established self-managed superannuation fund (SMSF) and borrow to invest in residential property. The regulator's ... |
| | | Spirit Super has corrected a non-compliance issue, amending its process for monitoring the use of reserves to cover expenses that exceed the fees and costs charged to members. Last month, the industry fund acknowledged that it had inadvertently omitted ... |
| | | In a widely anticipated move, the US Federal Reserve has raised interest rates by 25 basis points, elevating the target range to 5% - 5.25%, marking the highest level in 16 years. The central bank's decision comes as part of its ongoing commitment ... |
| | | Deficiencies in its target market determination (TMD) have seen interim stop orders placed on Interactive Brokers Australia. ASIC initiated the temporary suspension, valid for 21 days, to prohibit Interactive Brokers from offering, issuing, or giving ... |
| | | Setting a precedent, the corporate watchdog has taken Mercer Superannuation Australia to court for alleged greenwashing conduct. Mercer marketed the Sustainable Plus options, available in the Mercer Super Trust (MST), as suitable for members who "are ... |
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