The Advisers Association has expressed disappointment at AMP’s decision to appeal the BOLR verdict while AMP’s Matt Lawler says he hopes mediation will reach “an outcome that allows us to put this behind us”.
The fund manager has reached an agreement to acquire Bendigo and Adelaide Bank’s superannuation business, which it believes to be “highly complementary” to its ETF business.
AMP has announced this morning that it intends to appeal the verdict of its Buyer of Last Resort class action.
A Melbourne financial adviser permanently banned by ASIC earlier this year is facing a maximum penalty of 20 years’ jail for obtaining financial advantage by deception, allegedly spending the money on race cars, boats, and helicopters.
The Financial Services Council has noted the “enhanced risk” that comes from implementing changes to financial advice legislation simultaneously with the Quality of Advice Review.
Colonial First State has appointed a new group chief executive following a global search.
ASIC has warned licensees they could face regulatory action if they fail to remediate customers in a timely manner as it reviews licensees' handling of RG 277 in its first year.
Money Management crunches the numbers on ASIC’s data on Australian financial services licence approvals and how it compares over the last three years.
After seeing dwindling numbers of advisers and losing a Federal court case regarding an unpaid AFCA determination, NextGen Financial Group is to be wound up.
The planned acquisition of Diverger by Count will create the third-largest licensee in Australia, behind Insignia and AMP.
