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Funds management
Fee waivers provided due to the COVID-19 pandemic, reduced transaction volumes due to the pandemic, along with increased expenses and credit impairment charges contribute...
Funds management
Macquarie Group has ranked as the largest asset manager in Australia with US$412 billion ($583 billion), significantly greater than its nearest rival....
Policy & Regulation
In a decision which has implications for other sections of the financial services industry, the Federal Court has imposed a $15 million penalty on National Australia Bank...
Life/Risk
MLC Life’s new chief of life insurance, Sean McCormack, has acknowledged the adverse impacts of the company’s technology changes but says the company is accepting its res...
People & Products
Geoff Lloyd will leave MLC after two years at the helm following the recent sale agreement with IOOF....
Financial planning
Fitch Ratings has maintained its negative outlook on the ratings of Australia’s four largest banks: ANZ Group, Commonwealth Bank of Australia, NAB and Westpac. ...
Financial planning
The exodus continues among financial advisers offset in a small way by a modest but growing number of provisional advisers. ...
Superannuation
National Australia Bank super entities NULIS and MLC Nominees have been hit by Federal Court penalties out of an Australian Securities and Investments Commission action o...
Funds management
Buy now, pay later stocks like Afterpay, Sezzle and Zip may have hit their ceiling as increased competition from established financial firms enter the market....
Financial planning
Collaboration between climate scientists and finance firms like NAB, Westpac and the Commonwealth Bank has produced guidance on assessing the physical risks of climate ch...
Features
IOOF’s acquisition of MLC Wealth has confirmed the multi-billion dollar exit of the major banks from wealth management in Australia at the same time as handing the firm s...
Financial planning
IOOF’s acquisition of MLC Wealth has confirmed the multi-billion dollar exit of the major banks from wealth management in Australia at the same time as handing the firm s...
Financial planning
Its official. IOOF will acquire MLC Wealth but will not carry remediation costs....
Financial planning
Six of Australia's largest banking and financial services institutions have offered a total of $1.05 billion in compensation, as at 30 June 2020, to customers who suffere...
Funds management
Profitability at the big four banks is expected to remain under pressure for the next 18 months, according to ratings agency Fitch. ...
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MARKET INSIGHTS
Podcast
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...
So we are now underwriting criminal scams?...