Insurers have designed "complex and extremely poor value products, and put their reputations at risk," ASIC chief Greg Medcraft declared in a caustic speech on Friday. It's an "industry-wide" problem, he said. read more
Insurance, funds and super (61 items)
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EECU Limited, the credit union for ExxonMobil staff, will begin trading as Nexus Mutual from today after its "brand review". read more
The banks have failed in their push to persuade the Australian Prudential Regulation Authority to treat member-directed superannuation deposits as stable deposits under the net stable funding ratio prudential standard. read more
Briefs: Bankwest launches rate tracker hybrid, local Islamic finance executive joins RFI Foundation board
Bankwest has launched a new loan, which offers a discount to the average of the standard variable rates offered by ANZ, National Australia Bank and Westpac. read more
The third report in a series of reviews by KordaMentha Forensic indicates the CBA financial advice review is well on the way to meeting all the conditions imposed by ASIC. read more
ASIC has banned former Westpac financial planner, Anthony Bishop, of Chelmer, Queensland, from providing financial services for eight years. read more
Briefs: NAB plans DIY and cuts planners, Springvale arson prompts FSU moves, Resimac gets CEOs and more.
NAB encourages self-employment for planners, the FSU claims under-reporting of aggressive customer incidents, two new CEOs and more than one service outage at Westpac, and more. read more
The High Court has upheld a ruling of the Court of Appeal of the Supreme Court of Victoria in a matter involving the liquidators of Timbercorp Finance and several of its borrowers. read more