Bullock hints at no rate cut in 2025 | Financial Standard
Nov 29, 2024 · Bullock acknowledged that inflation has been falling - headline inflation has eased to 2.8% over the year to September, down from 5.4% in 2023 - but said that the bank is waiting to see whether inflation will stay within the 2% to 3% target range. "Despite the decline there is still some way to go to return inflation sustainably within our 2% to …
Firms treat CSLR as 'insurance policy': FAAA | Financial Standard
Dec 2, 2024 · In essence, a licensee whose determination is paid by the CSLR will have their AFSL cancelled. "There is also another mechanism for some action to be taken, which is the fit and proper person test, applies to financial advisers and includes an element of the non-payment of AFCA determinations," FAAA general manager of policy and advocacy Phil Anderson said, adding that these are simply not enough.
Macquarie fined $25m over 400 fake trades | Financial Standard
Nov 27, 2024 · The UK's Financial Conduct Authority (FCA) has fined Macquarie Bank's London Branch (MBL) $25 million (£13m) for enabling one of its employees to record over 400 fictitious trades over a 20-month period.
Inflation remains in RBA's target range | Financial Standard
Nov 27, 2024 · The monthly Consumer Price Index (CPI) indicator rose 2.1% in the 12 months to October 2024, according to the latest data from the Australian Bureau of Statistics (ABS), in line with the Reserve Bank of Australia's (RBA) target range.
Sally Auld to take on chief economist role at NAB
Dec 3, 2024 · Alan Oster will retire from NAB as chief economist after 32 years in the role, with Sally Auld set to replace him. Oster, who will finish at NAB at the end of March 2025, joined NAB in 1992 and built a respected economics function, the bank said. NAB group chief financial officer Nathan Goonan said ...
ASIC seeks $27m penalty against AustralianSuper
Oct 10, 2024 · ASIC is seeking a major $27 million penalty against AustralianSuper in the Federal Court. ASIC alleges that, for almost 10 years, AustralianSuper failed to have adequate policies and procedures to identify members who held multiple AustralianSuper accounts and to merge those accounts, where doing so was in the member's best interests.
Geopolitical tensions create investor opportunity: Franklin …
Dec 2, 2024 · Escalating geopolitical tensions around the world has made defense a critical focus for investors, according to a new paper from Franklin Templeton.
Australian Unity offloads banking business | Financial Standard
Nov 6, 2024 · Australian Unity has announced the sale of its banking business to Bank Australia, with the transfer set to be complete in late 2025. Under the agreement, Bank Australia will acquire Australian Unity banking customers and their existing loans, credit cards and deposit accounts, which at 30 June 2024 sat at approximately 25,000 customers, $1.4 billion in loans and credit, and $1.6 billion in ...
Insignia Financial to trial four-day work week
Oct 11, 2024 · Insignia Financial is set to pilot a four-day work week, a win for employees in recent Enterprise Agreement (EA) negotiations. The Finance Sector Union (FSU) and Insignia Financial have capped months of bargaining, with 68% of employees voting in favour of a new EA, which includes several enhanced protections and improved entitlements.
TelstraSuper picks Equip for merger partner | Financial Standard
Sep 18, 2024 · After announcing earlier this year that it was open to a merger, TelstraSuper will now explore a 'merger of equals' with Equip Super. In May of this year, and after 30 years in operation, TelstraSuper announced it was on the hunt for a merger partner, saying it was in members' best interests for the fund to move forward with a new identity that was separate to the telecommunications giant.