Staff at the RBA are in dispute with the central bank over working conditions and pay rises while its monetary policy board continues to hike interest rates.
AMP chief executive, Alexis George, has shared her thoughts on Insignia’s new ownership model and whether it will follow its footsteps as it expects $50 million in advice losses for FY23.
ASIC has permanently banned a Sydney financial adviser and cancelled the license of his business after he misappropriated investor funds.
As Westpac retains the BT platform business, a senior member of staff has returned to the firm after departing last year to lead its platform strategy.
Tackling issues around inappropriate scoping of advice, the Financial Services and Credit Panel has announced its first ‘written reprimand’.
The FAAA has warned advisers to be alert if their clients are in an underperforming super fund as this month’s APRA performance test is increased to certain trustee-directed Choice products.
The victims of an alleged Ponzi scheme run by Sydney conwoman, Melissa Caddick, have received their first payout with further payouts expected.
The corporate regulator has commenced its third civil penalty proceedings for alleged greenwashing with the superannuation fund holding investments in Russia when it had listed it as an excluded country.
Almost half of the advisers who have departed this year have been in the industry for less than 10 years while older advisers are pinning their hopes on the experience pathway.
AMP CEO, Alexis George, expects to have an update on the BOLR class action this month but has not ruled out appealing the case, having set aside a “best estimate” of $50 million in provisions.
