July 2019
Keeping up appearances pushing high earners into debt
Financial advisers say it is common to see high earners struggling to pay down credit card debt and control their spending. Here's why.
Clean up your act ahead of open banking
Customer data can be much more readily shared once open banking comes in. You've got just under seven months to get yourself in the best financial shape.
Open banking to rewrite the rules of lending
Open banking is set to replace traditional methods of lending such as postcodes and statistical data with real consumer data, making verification easier and self-reported data redundant.
Macquarie Wrap takes aim at broad church of advisers
Macquarie Wrap is chasing a broad church of advisers even as its sister Private Bank is scaling down its retail advice arm to focus on high net worth clients.
June 2019
AMP sued for excessive super fees
The embattled wealth company faces a second class action, this time from Slater and Gordon, over allegedly excessive superannuation administration fees.
Why zero-fee super is not always worth it
Some industry super funds are offering passive index options with investment fees as low as zero per cent. Should you jump on the bandwagon?
Australian bank customers a prime target for scams
Banking fraud cost Australians half a billion dollars last year, and the banks increasingly are getting the blame.
IOOF chief unveils 'advice-led' strategy
Troubled wealth group IOOF wants to "reset" its business by branching out of traditional advice into digital and robo advice, while leaving the door open for further acquisitions.
'A little odd': Judge asks if ASIC is going soft on AMP
A Federal Court judge has questioned the corporate regulator's strategy of not pushing for a finding of widespread misconduct at AMP.
ASX to crack down on cryptocurrency 'tulip bubble'
ASX is cracking down on initial coin offerings to prevent consumers harm from participating in speculative cryptocurrency investments.
MyState sells financial planning arm for $3.5m
The purchase price is $1 million more than what Commonwealth Bank got paid for offloading its financial planning arm Count Financial.
- Exclusive
- Superannuation
APRA to take action against AMP Super, board
The prudential regulator is preparing to crack down on AMP Super and force its board to clean up its act because it is concerned the fund's trustees have breached superannuation laws.
Challenger hit by low interest rates, Hayne royal commission
Annuities provider Challenger has told investors it expects to reach the bottom end of its guidance this financial year.
AUSTRAC orders Afterpay to hire external auditor
Afterpay has been ordered by the financial intelligence agency to hire an external auditor to scrutinise its compliance with anti-money-laundering laws.
SMSF advisers pocketed $5000 per client: ASIC
ASIC alleges SMSF Club advisers gave advice to clients, emphasising the benefits of SMSF property investing and downplaying the risks of doing so.
Afterpay executives to cash out $100m
Afterpay's CEO, chairman and group head will sell down at least $97.9 million of shares as the buy-now, pay-later provider prepares to raise at least $300 million.
NAB's bill for overcharging home loan customers tops $8m
The issue dates back to 2010 and affects more than 6500 home loan customers who set up a mortgage offset account with NAB.
AUSTRAC probes Afterpay for anti-money-laundering risks
The buy-now, pay-later firm says it is in talks with the regulator about potential breaches of anti-money-laundering laws.
Banks, super funds face another $236m 'Hayne levy'
Banks, insurers and super funds are set to fork out 10 per cent more to fund the work of the prudential regulator, thanks partly to the fallout from the Hayne banking inquiry.
Afterpay, Zip propping up sluggish retail sales
UBS estimates buy-now, pay-later providers account for 16 per cent of growth in discretionary retail spending in the six months to December 2018.