Challenger gets court approval on Metlife transaction
Challenger has finally completed the transaction that sees it acquire Metlife’s annuity, allocated pension and personal superannuation liabilities.
Challenger issued an announcement on the Australian Stock Exchange this morning that it had received Federal Court approval for the transfer of the liabilities associated with the Metlife products.
It said the transfer would occur at the close of business on August 31.
The transaction flows from an agreement reached between the two companies in February.
AUTHOR
Mike Taylor
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
