Problems persist with PYSP communication: ASIC
ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
ASIC said that common problems have been persistent in its review of superannuation trustees' PYSP communication with members, with some trustees failing to present facts and instead focusing on member and insurance retention.
Compensation bill hits $750m
ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
Six of Australia's largest banking and financial services institutions have so far paid, or offered, a total of $749.7 million in compensation to customers, according to new data released by ASIC.
ACCC denies impropriety
ELIZA BAVIN  |  TUESDAY, 11 FEB 2020
The ACCC has denied acting with impropriety in bringing criminal cartel charges against Citigroup and Deutsche Bank.
Push for more foreign investment
ELIZA BAVIN  |  FRIDAY, 7 FEB 2020
The Australian government is being urged to promote more foreign investment in Australia.
AMP to pay $5m for churn
JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
The Federal Court has ordered AMP to pay $5.175 million for failing to ensure its financial advisers complied with the best interests duty by engaging in insurance churn.
Asset manager to be liquidated
ELIZA BAVIN  |  WEDNESDAY, 5 FEB 2020
Global Merces Funds Management has come to an end as the financial services company is set to be wound-up.
Retirement funding system failing: Report
ELIZA BAVIN  |  MONDAY, 3 FEB 2020
Australians are not feeling supported by the retirement funding scheme, according to a report by Household Capital.
Westpac facing new class action
ELIZA BAVIN  |  MONDAY, 3 FEB 2020
Westpac is facing a new class action over issues connected to the bank's monitoring of financial crime and the recent AUSTRAC scandal.
The PDS is weak: Rice Warner
ELIZABETH MCARTHUR  |  MONDAY, 3 FEB 2020
New insights from Rice Warner claim product disclosure statements are weak in their ability to actually inform or protect consumers.
Amish community scammed
ELIZABETH MCARTHUR  |  MONDAY, 3 FEB 2020
An alleged fraudulent investment scheme has targeted the Amish community in the US, with the Securities and Exchange Commission now bringing charges.
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