The prudential regulator has identified a number of areas where superannuation providers are falling short of their regulatory obligations, particularly when it comes to managing conflicts of interest.
The two regulators have marked their post-Hayne collaboration by cautioning superfunds to take appropriate oversight of the fees and charges being deducted from member accounts.
If the prudential regulator was hoping to provide clarity on MySuper products it has failed miserably.
The corporate regulator has imposed additional licence conditions on IOOF Investment Services Ltd to improve governance and conflicts management.
The corporate regulator has today provided an update on how it will implement a number of recommendations made by the royal commission.
ASIC has commenced proceedings in the Federal Court against a major life insurer for alleged breaches of the ASIC Act, the Corporations Act and the Insurance Contracts Act, regarding a claim made under an income protection policy.
The corporate regulator has commenced proceedings in the Federal Court against NAB for breaches of the law related to the bank’s loan “introducer” program.
BREAKING ASIC has commenced civil penalty proceedings in the Federal Court against a Big Four bank, seeking findings of several thousand contraventions of the ASIC Act and Corporations Act.
The corporate watchdog has launched action against an Australian super trustee, claiming that it promoted false and misleading statements about superannuation, insurance products and services.
ASIC has pushed the superannuation industry to lift its game across insurance, with the regulator saying the sector is making it easy for members to lose default cover and leaving the vulnerable behind.
ASIC has obtained declarations against an asset manager after the Queensland Supreme Court found the company’s bank accounts showed $1 million in “suspicious transactions”.
The ASX-listed risk management, advice and solutions provider has today announced the successful acquisition of a New Zealand insurance broker.
Australian investors are growing increasingly bearish towards financial markets over the next 12 months as concerns grow over tensions between global economies, falling property prices and China's slowdown.
A portfolio manager on Perpetual’s asset management team says Australian companies are “playing games” with their numbers and “squeezing” CFOs in order to hit their earnings guidance.
BREAKING AUSTRAC has applied for civil penalty orders against Westpac over 23 million contraventions of money laundering laws.
The chief executive officer and managing director of a non-major bank has resigned from his role to focus on his long-term health.
BREAKING The chief executive of an Australian banking and wealth management group will resign in July 2020.
The head of Australia’s largest bank has been forced to confront the devastating impact the group’s misconduct has had on the wellbeing of its customers.
Investor confidence is on the rebound and the ASX hit a 12-year high on Monday. But it’s not all good news for the Australian economy.
A handful of Australian fund managers and credit stalwarts recall their whereabouts in 2008. One of them was preparing to open the Aussie outpost of a now defunct Wall Street giant.
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